Specialty finance company Horizon Technology Finance Corporation has closed a $7.5 million venture loan to Systech International. The business specialises in pharma serialization solutions.
Horizon Technology Finance Corporation (Nasdaq: HRZN) (“Horizon”), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and clean-tech industries, today announced that it has closed a $7.5 million venture loan to Systech International, Inc. (“Systech”), a global leader in pharma serialization solutions.
“Systech is a strong addition to Horizon’s quality investment portfolio,” stated Gerald A. Michaud, President of Horizon. “We are pleased to provide this venture loan to Systech, a company poised for growth with its comprehensive suite of software products and services for manufacturers in the global pharmaceutical and related industries aimed at meeting stringent regulatory requirements and improving operating efficiencies.”
Robert DeJean, President and CEO of Systech, stated, “We are experiencing significant growth and required additional capital to finance our continued expansion. The Horizon team carefully considered our needs and structured a financing solution that will support our working capital needs to meet the strategic goals of our company. We appreciate Horizon’s confidence in Systech and welcome them as a value-added financial partner.”
About Horizon Technology Finance
Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and clean-tech industries. The investment objective of Horizon Technology Finance is to maximize total risk-adjusted returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants to purchase the equity of portfolio companies. Headquartered in Farmington, Connecticut, with regional offices in Walnut Creek, California and Reston, Virginia, the Company is externally managed by its investment advisor, Horizon Technology Finance Management LLC. Horizon’s common stock trades on the NASDAQ Global Select Market under the ticker symbol, “HRZN.” In addition, the Company’s 7.375% Senior Notes due 2019 trade on the New York Stock Exchange under the ticker symbol “HTF.”
About Systech International
Systech is a global leader in pharma serialization solutions. Systech’s solutions protect the integrity of our customers’ supply chains and the authenticity of their brands.
Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements 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 our filings with the Securities and Exchange Commission. The Company 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.