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-backed companies in the areas of technology, life sciences, information and health services and sustainability industries, today announced the closing of a subprime lending facility to Native Microbials, Inc. (“Native Microbials” ).
Native Microbials discovers, develops and markets next-generation microbial solutions for animals spanning both pet and farmed species. The Company’s products are experiencing rapid growth as farmers and animal owners increasingly seek 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 improving customer services.
“Animal health and nutrition is getting a huge boost from native microbes,” said Gerald A. Michaud, president of Horizon. “The company’s technology platform enables the development of truly innovative and beneficial microbial products that improve animal health, productivity and sustainability to a level never seen before in animal health and nutrition. We believe the market opportunities for native microbes are vast and we are happy to support the company’s growth initiatives.”
“We are excited about the opportunity and very much appreciate Horizon’s support,” said Mike Seeley, co-founder and CEO of Native Microbials. “Our products enable animals to be more productive, efficient and sustainable, which benefits us all. Being able to better serve our rapidly growing customer base and expand manufacturing and supply chain operational capabilities to This stage of our journey is critical. Horizon’s support will help Native and our customers as we grow.”
About Horizon Technology Financing
Horizon Technology Finance Company (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, information and healthcare industries and durability. The investment objective of HRZN is to maximize the return on its investment portfolio by generating current income from the leveraged investments it makes and capital appreciation from the warrants it receives on those leveraged investments. Horizon Technology Finance Management SARL has its headquarters at Farmington, Connecticutwith a regional office in Pleasanton, Californiaand investment professionals located in Portland, Maine, Austin, TXand To rest on, Virginia. To learn more, please visit horizontechfinance.com.
About Native Microbes
Native Microbials harnesses the power of the native microbiota to improve animal health, productivity and sustainability. The company uses advanced microbiology and data science methods to develop next-generation microbial products for various animal species. Based at San DiegoNative Microbials maintains several field and production operations around the world. Please visit NativeMicrobials.com to learn more.
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.
SOURCE Horizon Technology Finance Corporation