Farmington specialty lender Horizon Technology Finance Corp. says it spearheaded a $15 million venture loan package to a rising Massachusetts advanced optical-imaging device maker.
Horizon said Tuesday the loan to NinePoint Medical Inc., of Cambridge, Mass., included the lender’s initial $5 million in secured funding of its $7.5 million commitment under the package for NinePoint’s use as working capital.
NinePoint President/CEO Christopher von Jako said the money will fund ongoing development and marketing of its NvisionVLE imaging system “that we expect will revolutionize the field of advanced imaging.”
Horizon’s business model relies mainly on recouping its investments through repayment of principal, plus interest, and with stock warrants issued from the borrower.
