FARMINGTON, Conn., Sept. 13, 2021 /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 a $40 million venture loan to Nexii Building Solutions Inc. ("Nexii"), a green construction technology company focused on creating environmentally-friendly, durable, cost-efficient and disaster-resilient buildings.
Under the terms of the agreement, Horizon and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's advisor, provided Nexii with $22.5 million and $7.5 million, respectively, while Trinity provided $10 million. Nexii expects to use the loan proceeds for general growth and working capital purposes.
"Nexii's advanced building solutions and environmentally conscious construction materials and methods are bringing game changing innovation to the construction industry, reducing project build times and costs, while ensuring buildings are more efficient, sustainable, and resilient to climate impacts," said Gerald A. Michaud, President of Horizon. "We are excited to support Nexii as it seeks to further expand its market share in the construction sector."
"We are proud to partner with the team at Nexii, whose mission to build a vibrant future for the people and planet is combined with a quantum leap in building technology," said Ron Kundich, Senior Managing Director of Trinity Capital. "We're all aware of the ongoing effort to transition to a zero-carbon economy, and Nexii's innovative approach positions them at the forefront of sustainable buildings, which require fewer resources, produce less waste, and use non-toxic materials for healthier living."
"Two leading venture and growth stage lenders, Horizon and Trinity, have come together to partner with Nexii, and we are so thankful to have their support," said Stephen Sidwell, Co-founder and Chief Executive Officer of Nexii. "With this funding, we are able to further expand our project capacity, increase the speed of delivery for our transformative green building solutions, and take a step forward towards realizing our goal of having sustainable construction technology in every sector of business and every area of the world."
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.
About Nexii
Nexii Building Solutions Inc. (Nexii) is a green construction technology company that is committed to building a vibrant future for people and the planet. Nexii designs and manufactures high-performance buildings and green building products that are sustainable, cost-efficient and resilient in the face of climate change. The Nexii System also significantly reduces construction timelines, enabling the rapid development of green buildings across North America. Nexii is suited for industrial / commercial / institutional, mixed-use, multi-family residential and single-family homes, as well as for the green retrofit market. For more information, visit www.nexii.com, or connect with us on Instagram (@NexiiBuilds), Twitter (@NexiiBuilds) or on LinkedIn (Nexii Building Solutions).
Forward-Looking Statements
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.
Contacts:
For Horizon Technology Finance:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
For Trinity Capital:
Vibhor Garg
Director, Marketing
vgarg@trincapinvestment.com
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SOURCE Horizon Technology Finance Corporation
