Harris & Harris Group Announces the Payoff of its Outstanding Credit Facility from ORIX Corporate Capital
NEW YORK, Dec. 19, 2016 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (NASDAQ:TINY), a publicly traded, internally managed business development company, announced today that it has paid off all outstanding obligations associated with its credit facility from ORIX Corporate Capital. Its balance sheet is now free of any debt obligations. The funds used to pay off the obligations were from an investment that was sold during the fourth quarter generating a gain on invested capital.
“We thank ORIX Corporate Capital for its willingness to establish a credit facility for us and for being a great partner during the term of the facility,” said Douglas W. Jamison, Chairman and Chief Executive Officer of Harris & Harris Group.
About Harris & Harris Group
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup.
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, 2015, 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 and links 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. Harris & Harris Group is not responsible for the contents of third party websites.
Press Contact: Daniel B. Wolfe Harris & Harris Group, Inc. 212-582-0900
Released December 19, 2016