Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Harris & Harris Group Replaces its Current Credit Facility with a New $20 Million Multi Draw Term Loan Facility

Abstract:
Harris & Harris Group, Inc., (NASDAQ: TINY), an early-stage, active investor in transformative companies, today announced the closing of a new $20 million multi-draw term loan facility with Orix Corporate Capital, Inc. This facility replaces a $10 million multi-draw term loan facility with TD Bank.

Harris & Harris Group Replaces its Current Credit Facility with a New $20 Million Multi Draw Term Loan Facility

New York, NY | Posted on September 30th, 2013

"The addition of this loan facility to our financial resources strengthens our ability to take advantage of investment opportunities that we believe have the potential to increase our future returns on investment. We believe the willingness of Orix Corporate Capital to accept our portfolio of primarily privately held companies as collateral speaks to the quality of our portfolio companies and our investments in those companies," said Daniel B. Wolfe, the Company's President.

Douglas W. Jamison, the Company's Chairman and Chief Executive Officer added, "This facility also establishes a relationship between Harris & Harris Group and Orix Corporate Capital, a diversified financial conglomerate with substantial assets that could be beneficial to us and our portfolio companies in the future. We look forward to working with the team from Orix on this facility and other opportunities of mutual interest."

The loan facility matures on September 30, 2017. Any funds drawn by Harris & Harris Group bear interest at 10% per annum in cash. The Company has the option to have interest accrue at a rate of 13.5% per annum if the Company decides not to pay interest in cash when due. The Company currently plans to pay interest in cash if and when any borrowings are outstanding.

Shareholders of Harris & Harris Group may be interested to know that we have posted a Letter to Shareholders on our website. It may be accessed directly at http://ir.hhvc.com/letters.cfm .

####

About Harris & Harris Group, Inc.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com and on Facebook at www.facebook.com/harrisharrisvc.

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com and www.Facebook.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

For more information, please click here

Copyright © Harris & Harris Group, Inc.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Guo Lab Shows Potential of RNA as Heat-resistant Polymer Material for Nanoarchitectures April 23rd, 2014

National Space Society Congratulates SpaceX on the Success of CRS-3 and the First Flight of the Falcon 9R April 22nd, 2014

Nanoreporters tell 'sour' oil from 'sweet': Rice University's hydrogen sulfide nanoreporters gather intel on oil before pumping April 22nd, 2014

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Harris & Harris Group Notes the Receipt of Proceeds From the Sale of Molecular Imprints' Semiconductor Business to Canon April 22nd, 2014

Harris & Harris Group Continues Its Blog Series to Highlight Most Impactful Portfolio Companies With Champions Oncology, Inc. April 17th, 2014

Announcements

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Guo Lab Shows Potential of RNA as Heat-resistant Polymer Material for Nanoarchitectures April 23rd, 2014

National Space Society Congratulates SpaceX on the Success of CRS-3 and the First Flight of the Falcon 9R April 22nd, 2014

NanoNews-Digest
The latest news from around the world, FREE







  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE