Hercules Capital completes two institutional debt financings, raising a total of $200.0 million to support continued growth

PALO ALTO, Calif.–(BUSINESS WIRE)–Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”) today announced the closing of two new debt financings for a total of $200.0 million. Hercules Capital Funding Trust 2022-1, a new indirect wholly-owned subsidiary of Hercules, issued $150.0 million of Class A Notes (the “Class A Notes”) and Hercules closed a private institutional offering for an aggregate principal amount of $50.0 million. Notes due June 2025 (the “June Notes”).

The Class A Notes bear interest at a fixed rate of 4.95%. The Class A Notes have an expected maturity date of July 20, 2031 and an expected weighted average life of 3.1 years. Guggenheim Securities, LLC acted as arranger of the Class A Notes and Hercules is the sponsor, initiator and manager of the transaction.

The June Notes are unsecured and bear an interest rate of 6.00% per annum, payable semi-annually and will mature on June 23, 2025, and may be repaid in whole or in part at any time or from time to other at the option of the Company. at all times plus a bonus, if applicable. The June Notes were initially rated BBB+ by rating agency Kroll Bond. Goldman Sachs & Co. LLC was the sole placement agent for this offering.

About Hercules Capital, Inc.

Hercules Capital, Inc. (NYSE: HTGC) is the leading and largest specialty finance company focused on providing senior secured growth loans to innovative, high-growth venture capital-backed companies in a wide variety of technologies, life sciences and sustainable and renewable development. technological industries. Since its inception (December 2003), Hercules has committed over $14.0 billion to more than 570 companies and is the lender of choice for entrepreneurs and venture capitalists seeking growth capital financing . Companies interested in learning more about funding opportunities should contact in[email protected]m or call 650.289.3060.

Hercules, through its wholly owned subsidiary, Hercules Adviser LLC (“Hercules Adviser”), also operates an asset management business through which it manages investments for third parties (“Adviser Funds”) ). Hercules Adviser is registered as an investment adviser under the Investment Advisers Act of 1940.

Hercules common stock trades on the New York Stock Exchange (NYSE) under the symbol “HTGC”. In addition, Hercules has a retail bond issue of 6.25% Notes due 2033 (NYSE: HCXY).

Forward-looking statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that pursuant to Section 27A(b)(2)(B) of the Securities Act of 1933, as amended, and Section 21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to statements made in the periodic reports that we file under the Exchange Act.

The information disclosed in this press release is made as of the date hereof. There can be no assurance that the June Notes offering will close in June 2020 or at all. Actual events, including the issuance of the June Notes and the use of the proceeds of the offering of the February Notes and the June Notes, may differ from those described herein. These forward-looking statements are not guarantees of future events and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to limit, risks, uncertainties, including uncertainties surrounding current market volatility and other factors that the Company identifies from time to time in its filings with the SEC. Although Hercules believes that the assumptions on which these forward-looking statements are based are reasonable, each of these assumptions could prove to be incorrect and, consequently, forward-looking statements based on these assumptions could also be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and Hercules undertakes no obligation to update the forward-looking statements for subsequent events.

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