Horizon Technology Finance Announces Loan Prepayment by Portfolio Company OpenPeak

Horizon Technology Finance Corporation

today announced the prepayment of the remaining balance of $4.8 million of a venture loan made by Horizon to OpenPeak, Inc. ("OpenPeak"). OpenPeak designs end-to-end managed platforms, software, and devices that enable Enterprises, SMBs, service providers, developers and content owners to interact with end-users in their homes, offices, and while mobile. Horizon was carrying this loan at a fair value below its cost. The venture loan repayment allows Horizon to reverse its previously reported unrealized depreciation of approximately $270,000 and recognize additional fee income.