FARMINGTON, Conn., July 12, 2022 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, along with lending partner Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of debt and equipment financing to growth stage companies, announced today that they provided an additional $20 million venture loan to Nexii Building Solutions Inc. ("Nexii"), a green construction company that designs and manufactures low carbon buildings and products. Horizon and Trinity previously provided $40 million in venture loans to Nexii.
Under the terms of the agreement, Horizon and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's adviser, provided Nexii with $10 million and $5 million, respectively, while Trinity provided $5 million. Nexii expects to use the loan proceeds for general growth and working capital purposes, including the building of its new U.S. manufacturing facility.
"Since our original commitment last year, Nexii has made significant strides within the construction industry through its innovative, efficient and environmentally conscious building solutions, positioning it well to further expand its operations," said Gerald A. Michaud, President of Horizon. "We are excited to add to our support of Nexii as it continues its strong growth trajectory."
"The Nexii team continues to make significant progress with their planet-friendly building solutions, and we are excited to increase our commitment to this rapidly growing company," said Ron Kundich, Chief Credit Officer of Trinity Capital.
"We are very thankful for Horizon and Trinity's continued partnership with Nexii," said Stephen Sidwell, Co-founder and Chief Executive Officer of Nexii. "Our revolutionary green building solutions are enabling us to win new projects with some of the largest global brands, and with Horizon and Trinity's expanded support, we are well situated for continued growth and deliver our sustainable construction technology worldwide."
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon also has regional offices in Pleasanton, California and Reston, Virginia. To learn more, please visit horizontechfinance.com.
About Trinity Capital
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed specialty lending company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, is a leading provider of debt, including loans and equipment financing, to growth stage companies, including venture-backed companies and companies with institutional equity investors. Trinity's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments consisting primarily of term loans and equipment financings and, to a lesser extent, working capital loans, equity and equity-related investments. Trinity believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience, and track record in lending to growth stage companies. Learn more at trincapinvestment.com.
Nexii Building Solutions Inc. (Nexii) designs and manufactures low carbon buildings and products to address the climate impact of our built environment. With buildings and construction responsible for 36% of global energy consumption and 37% of greenhouse gas emissions annually, sustainable and scalable solutions are urgently needed for net zero carbon buildings. With Nexii's breakthrough material Nexiite, Nexii enables the rapid assembly of high-quality buildings and infrastructure with reduced end-to-end carbon emissions, near zero waste and less disruption to the community. Sustainability is core to Nexii's mission to build a vibrant future for people and planet. For more information, visit www.nexii.com, or connect with us on Instagram (@NexiiBuilds), Twitter (@NexiiBuilds) or on LinkedIn (Nexii Building Solutions).
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company's filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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SOURCE Horizon Technology Finance Corporation