×

Horizon Technology Finance Provides $7.5 Million Venture Loan to SilkRoad Technology

FARMINGTON, Conn. and CHICAGO, May 19, 2015 (GLOBE NEWSWIRE) -- 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 cleantech industries, announced today it has closed a $7.5 million venture loan to SilkRoad Technology, Inc. ("SilkRoad"), a global provider of cloud-based talent management solutions. SilkRoad will use the funds for working capital purposes.

"SilkRoad, a provider of innovative human resources management software, is an exciting addition to our diversified venture loan portfolio," stated Gerald A. Michaud, President of Horizon. "SilkRoad's product offerings assist companies with a variety of mission critical human resource needs. With our growth capital, SilkRoad has bolstered its liquidity to contribute to its encouraging growth outlook."

John Shackleton, President and CEO of SilkRoad, stated, "We appreciate the support and financing solution provided by Horizon, an experienced direct originator of venture loans. With Horizon's attractive growth capital we are well positioned to add value for our current customers while marketing our best in class products to prospective organizations."

About Horizon Technology Finance

Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of secured loans to companies backed by venture capital firms within the technology, life science, healthcare information and services and cleantech industries. The investment objective of Horizon is to maximize total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, Horizon has regional offices in Walnut Creek, California and Reston, Virginia. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechnologyfinancecorp.com.

About SilkRoad

SilkRoad is a leading global provider of cloud-based, end-to-end talent management solutions that enable customers to find, attract, develop, and retain the best talent. The award-winning SilkRoad Life Suite includes Talent Acquisition, Talent Development, and HRMS solutions that are delivered through a tablet-friendly Talent Portal. The suite is easy to deploy and use – a single platform to rapidly boost employee engagement and business performance. Visit www.silkroad.com, follow on Twitter @SilkRoadTweets or call 866-329-3363 (U.S. toll free) or 312-574-3700.

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 our 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.

CONTACT: Horizon Technology Finance Christopher M. Mathieu Chief Financial Officer (860) 676-8653 chris@horizontechfinance.com Investor Relations and Media Contacts: The IGB Group Matt Steinberg / Leon Berman (212) 477-8261 / (212) 477-8438 msteinberg@igbir.com / lberman@igbir.comSource:Horizon Technology Finance Corporation