FARMINGTON, Conn., Aug. 27, 2012 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (Nasdaq:HRZN) ("Horizon"), an externally managed, leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life sciences, healthcare information and services, and clean-tech industries, today announced that its Advisor, Horizon Technology Finance Management LLC has hired Todd McDonald as Managing Director for the Mid-Atlantic Technology and Clean Technology markets, and Mike Lederman as Managing Director for the West Coast Technology and Clean Technology markets. Additionally, it has opened a new office in Reston, Virginia, expanding its geographic reach to the Mid-Atlantic region.
Robert D. Pomeroy, Jr., Chairman and Chief Executive Officer, commented, "We are enthusiastic about the growth of Horizon and the appointment of Todd and Mike to our seasoned team. These additions and the new office in northern Virginia will enhance our venture lending platform across the U.S. and reflects our commitment to serving key markets for venture-backed companies, including the Mid-Atlantic and western regions. Both professionals bring to Horizon an established track record of originating new loans, strong relationships with the venture capital community and considerable experience providing growth capital to development-stage companies. We look forward to their contributions at Horizon as we maintain our focus on meeting the demand for our venture loan products and growing our high-quality portfolio."
Mr. McDonald has approximately 20 years of business development experience in the financial services industry. As Managing Director, Mid-Atlantic Technology and Clean Technology, he will be responsible for developing and maintaining sponsor relationships and sourcing debt financing opportunities with venture-backed companies in the Mid-Atlantic region. Previously, Mr. McDonald held various positions at Comerica Bank, most recently as Group Manager and Senior Vice President, Technology and Life Sciences Division, where he oversaw a portfolio of venture-backed technology companies and led business development initiatives across the East Coast. Mr. McDonald received a BS in Finance from University of Maryland, College Park and an MBA in Finance from San Diego State University.
Mr. Lederman has more than 10 years of business development experience in the financial services industry. As Managing Director, West Coast Technology and Clean Technology, he will be responsible for developing and maintaining sponsor relationships and sourcing debt financing opportunities among venture-backed companies in the western region of the U.S. He will be based out of the Company's office in Walnut Creek, California. Mr. Lederman most recently was Senior Vice President and Regional Market Manager, Technology Banking Division, at Bridge Bank, NA, where he was responsible for new business development in the San Francisco area. Mr. Lederman received his BS from California Polytechnic State University San Luis Obispo.
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 a regional office 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." To learn more, please visit www.horizontechnologyfinancecorp.com.
Forward-Looking Statements
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.