Mitralign, Inc. announced that it has received $2.81 million in funding from Horizon Technology Finance Management, LLC and Square 1 Bank.
January 03, 2013 at 12:00 am EST
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Mitralign, Inc. announced that it expects to raise $7 million in funding on September 11, 2012. The company will receive venture loan from new investors Horizon Technology Finance Corporation, a fund managed by Horizon Technology Finance Management, LLC and Square 1 Bank. Horizon Technology Finance Corporation will provide $4 million and $3 million will be provided by are Square 1 Bank.
In the third quarter of 2012, the company announced that it has received $1.71 million in funding from Horizon Technology Finance Corporation and issued warrants. The term loan provided by the investor bears a 12% interest and shall mature on October 1, 2015.
On January 3, 2013, Mitralign, Inc. closed the transaction. The company received additional funding of $1.1 million, bringing total proceeds to $2.81 million. The company issued 295,238 warrants in the transaction. The loan amount is to be received 12% in cash, 3% ETP. The maturity date of loan is January 10, 2015.
Horizon Technology Finance Corporation is a 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. The Company's investment objective is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. It is focused on making secured debt investments to venture capital and private equity backed companies and publicly traded companies in its target industries. It seeks to invest in companies that vary by their stage of development, their target industries and sectors of target industries and their geographical location, as well as by the venture capital and private equity sponsors that support its portfolio companies. The Company is externally managed by Horizon Technology Finance Management LLC.
HORIZON TECHNOLOGY FINANCE CORPORATION 
