HORIZON TECHNOLOGY FINANCE CORPORATION (NASDAQ:HRZN) Files An 8-K Entry into a Material Definitive Agreement
On June 29, 2020, Horizon Technology Finance Corporation (the “Company”) through its wholly owned subsidiary, Horizon Credit II LLC (“Credit II”), entered into an amendment (the “Amendment”) to the Amended and Restated Loan and Security Agreement, dated as of November 4, 2013 (the “Credit Facility”) with KeyBank National Association. The Amendment, among other things, (1) extended the draw period of the Credit Facility to September 30, 2021, (2) replaced Cadence Bank NA with Hitachi Capital America (by way of merger with State Bank and Trust Company) as a lender under the Credit Facility, (3) increased the LIBOR rate floor from 0.75% to 1.00% and (4) provided a mechanism to determine a successor reference rate to LIBOR if, among other things, LIBOR becomes unavailable or is generally replaced as a benchmark interest rate in the market.
The description of the documentation related to the Credit Facility contained in this Current Report on Form 8-K is only a summary of the material terms of the Amendment and is qualified in its entirety by the terms of the Amendment filed as Exhibit 10.1 hereto, which is incorporated herein by reference.
|10.1||Seventh Amendment to the Amended and Restated Loan and Security Agreement, dated as of June 29, 2020, among Horizon Credit II LLC, as borrower, the Lenders party thereto, and KeyBank National Association, as arranger and agent.|
Horizon Technology Finance Corp Exhibit
EX-10.1 2 tm2023695d1_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 EXECUTION COPY AMENDMENT NO. 7 TO AMENDED AND RESTATED LOAN AGREEMENT THIS AMENDMENT NO. 7 TO AMENDED AND RESTATED LOAN AGREEMENT (this “Amendment”) dated as of June 29,…
To view the full exhibit click
About HORIZON TECHNOLOGY FINANCE CORPORATION (NASDAQ:HRZN)
Horizon Technology Finance Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. The Company operates through lending and investment segment. The Company operates as a specialty finance company. It lends to and invests in development-stage companies in the technology, life science, healthcare information and services and cleantech industries (collectively Target Industries). The Company is focused on making secured debt investments (Venture Loans) to venture capital backed companies in its Target Industries. It also provides Venture Loans to publicly traded companies in its Target Industries. Its debt investment portfolio consists of approximately 50 debt investments. Horizon Technology Finance Management LLC is the investment advisor of the Company.