Avalanche Snares $12.5M Venture Debt

Horizon Technology Finance Corporation, a leading specialty finance company providing secured loans to venture capital and private equity-supported development companies in the technology, life sciences, health information and services and clean-tech industries, today announced that it has closed $12 5 million Avalanche Technology Venture Loan Facility, Inc. (‘Avalanche’), developer of next generation storage class memory products using its proprietary Spin Programmable Memory (SPMEM(TM)) technology. The proceeds will support the continued development efforts of the company

“Avalanche is a strong addition to our high-quality portfolio of venture loans,” said Gerald A. Mr. Michaud, President of Horizon “We believe that, based on its innovative technology, customer traction and market leadership, the company is poised to revolutionize the memory industry. We look forward to working with Avalanche’s management team and providing the company with significant growth capital as Avalanche further develops its memory storage solutions. “That’s right.

Petro Estakhri, CEO and founder of Avalanche, said, “We’re very pleased to partner with Horizon on this venture loan commitment. Horizon has come to us with high regard, and this significant debt financing enables us to finance the development of our products at a very crucial time. We appreciate both the support shown by Horizon, the leading venture lender, at this stage of our development, and Horizon’s ability to deliver a flexible financing solution as we continue to make significant progress towards the commercial production of our SPMEM(TM) products. “That’s right.

Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company that provides secured loans to development-level companies backed by established venture capital and private equity firms in technology, life science, health information and services, and clean-tech industries. Horizon Technology Finance’s investment objective is to maximize total risk-adjusted returns by generating current income from the portfolio of directly-originated secured loans as well as capital appreciation from the acquisition of equity by portfolio companies. Headquartered in Farmington, Connecticut, with a regional office in Walnut Creek, California, the company is managed externally 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” “Moreover, the Company’s 7 375% Senior Notes due 2019 trading on the New York Stock Exchange under the ticker symbol ‘HTF’ “For more information, please visit Horizon Technology Finance Corporation Com