Harris & Harris Group Replaces its Current Credit Facility with a New $20 Million Multi Draw Term Loan Facility from ORIX Corporate Capital
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.
“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.”
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