FARMINGTON, Conn., April 21, 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, announced today it closed a venture loan facility to Native Microbials, Inc. ("Native Microbials").
Native Microbials discovers, develops, and commercializes next generation microbial solutions for animals covering both companion and livestock species. The company's products are undergoing rapid growth as farmers and pet owners alike increasingly look to implement more effective and reliable microbial solutions into their animal management programs. The loan proceeds will primarily be used to optimize operations, including expanding manufacturing capabilities, strengthening the product supply chain and enhancing customer services.
"Animal health and nutrition is obtaining a considerable boost from Native Microbials," said Gerald A. Michaud, President of Horizon. "The company's technology platform makes it possible to develop truly innovative and beneficial microbial products that improve the health, productivity and sustainability of animals at a level not previously observed in animal health and nutrition. We believe the market opportunity for Native Microbials is vast and we are pleased to support the company's growth initiatives."
"We are very excited by the opportunity ahead of us and very much appreciate Horizon's support," said Mike Seely, co-founder and CEO of Native Microbials. "Our products enable animals to be more productive, efficient, and sustainable which in turn benefits all of us. Being able to better serve our rapidly growing customer base and expand operational capabilities in manufacturing and supply chain at this stage in our journey is critical. Horizon's support will help Native and our customers as we grow."
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 HRZN 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. Horizon Technology Finance Management LLC is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Portland, Maine, Austin, Texas, and Reston, Virginia. To learn more, please visit horizontechfinance.com.
About Native Microbials
Native Microbials harnesses the power of the native microbiome to improve animal health, productivity and sustainability. The company uses advanced microbiology and data science methods to develop next-generation microbial products for a variety of animal species. Headquartered in San Diego, Native Microbials maintains multiple field and production operations worldwide. Please visit NativeMicrobials.com to learn more.
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