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Horizon Technology Finance Provides $20 Million Venture Loan Facility to Viken Detection
FARMINGTON, Conn., June 12, 2023 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that
About this update from Horizon Technology Finance Corporation
[{"type":"text","content":"FARMINGTON, Conn., June 12, 2023 /PRNewswire/ -- 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 sustainability industries, today announced it has provided a $20 million venture loan facility to Viken Detection Corp. (\"Viken\"), of which $10 million has been initially funded.\nViken has developed a variety of innovative X-ray and detection products that are utilized by various law enforcement agencies for the purposes of security, public safety and counterintelligence. Its flagship products, the NIGHTHAWK-BTX™, a handheld imager, and the OSPREY-UVX™, a full-vehicle scanner installed beneath roads, scan vehicle traffic at the U.S.-Mexico border, among other critical checkpoints. Viken recently launched its latest product, FOXHOUND-HNA™, which enables law enforcement to detect trace elements of contraband in the field. The company will use the loan proceeds for general growth and working capital purposes.\n\"Viken's cutting-edge technology provides law enforcement with crucial new devices that are making a major difference in keeping the public safe from threats,\" said Gerald A. Michaud, President of Horizon. \"Their powerful scanning tools give officials the capability to quickly and comprehensively search the entirety of any vehicle and cargo for contraband and hazardous materials. We are pleased to support Viken's continued growth.\"\n\"We are excited to receive Horizon's support as we continue to broaden our worldwide support of law enforcement and military communities,\" said Jim Ryan, Chief Executive Officer of Viken. \"Viken's world-class product suite considerably enhances the ability of law enforcement and military professionals to detect potential threats and hazards. With Horizon's financial backing, we look forward to developing new and advanced solutions to further improve global security.\"\nAbout Horizon Technology FinanceHorizon Technology Finance Corporation (NASDAQ: HRZN) is 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 sustainability industries. Th...