Horizon Technology Finance and Trinity Capital provide an additional $20 million venture capital loan to Nexii
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-backed companies in the areas of technology, life sciences, information and healthcare services, and sustainability industries, as well as lending partner Trinity Capital Inc. (NASDAQ:TRIN) (“Trinity”), a leading debt financing and equipment providers for growth-stage businesses, today announced that they are providing an additional loan $20 million venture capital 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 subprime loans to Nexii.
Under the terms of the agreement, Horizon and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon’s advisor, provided Nexii $10 million and $5 millionrespectively, while Trinity provided $5 million. Nexii plans to use the loan proceeds for general growth and working capital purposes, including the construction of its new manufacturing facility in the United States.
“Since our initial engagement last year, Nexii has made significant strides in the construction industry with its innovative, efficient and environmentally friendly building solutions, positioning it well to expand further its operations,” said Gerald A. Michaud, president of Horizon. “We are delighted to add to our support for Nexii as it continues its strong growth trajectory.”
“The Nexii team continues to make significant progress with its planet-friendly building solutions, and we are excited to increase our commitment to this rapidly growing company,” said Ron Kundigcredit manager of Trinity Capital.
“We are very grateful for Horizon and Trinity’s continued partnership with Nexii,” said Stephen Sidwell, co-founder and CEO of Nexii. “Our breakthrough green building solutions are helping us win new projects with some of the world’s biggest brands, and with the expanded support of Horizon and Trinity, we are well positioned to continue our growth and bring our sustainable building technology to the whole world.”
About Horizon Technology Financing
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture-backed companies in the technology, life sciences, health information and services and sustainability. Horizon’s investment objective is to maximize the return on its investment portfolio by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when these borrowed investments. Based at Farmington, ConnecticutHorizon 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 loan company that has elected to be regulated as a business development company under the Investment Companies 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 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, loans working capital, equity and equity-linked investments. Trinity believes they are one of the only select groups of specialist lenders with the knowledge, experience and track record in growth stage business lending. To learn more, visit 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 per year, sustainable and scalable solutions are urgently needed for net zero carbon buildings. With Nexiite, Nexii’s revolutionary material, Nexii enables the rapid assembly of high-quality buildings and infrastructure with low end-to-end carbon emissions, nearly zero waste and less disruption to the community. Sustainability is at the heart of Nexii’s mission to build a vibrant future for people and the planet. For more information, visit www.nexii.comor connect with us on Instagram (@NexiiBuilds), Twitter (@NexiiBuilds) or on LinkedIn (Nexii Building Solutions).
Statements included in this press release 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 do not constitute are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. Horizon assumes no obligation to update any forward-looking statements 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