Hercules Capital, Inc. - HTGC STOCK NEWS

Hercules Capital (NYSE: HTGC) reported strong financial results for Q3 2024, achieving record total investment income of $125.2 million, up 7.3% year-over-year. The company's net investment income (NII) reached $83.2 million, or $0.51 per share, representing an 8.3% increase year-over-year and providing 128% coverage of base cash distribution. Total gross debt and equity commitments were $430.7 million, with gross fundings of $272.0 million. The company maintained conservative balance sheet management with net GAAP leverage of 92.5% and net regulatory leverage of 83.0%. Assets under management grew 10.9% year-over-year to approximately $4.6 billion.

Hercules Capital (HTGC) has declared a total cash distribution of $0.48 per share for Q3 2024, consisting of a $0.40 base distribution and an $0.08 supplemental distribution. The distribution will be paid on November 20, 2024, to stockholders of record as of November 13, 2024. The company maintains a variable distribution policy targeting 90-100% of quarterly taxable income. For Q3 2024, 100% of distributions were derived from current earnings and profits, with 80.08% qualifying as Qualified Interest Income for foreign accounts.

Hercules Capital (NYSE: HTGC), the largest specialty financing provider for innovative venture, growth, and established stage companies, has announced the date for its third quarter 2024 financial results release and conference call. The company will release its financial results after market close on Wednesday, October 30, 2024, followed by a conference call at 2:00 p.m. PT (5:00 p.m. ET) on the same day.

To participate in the call, interested parties must register to receive the dial-in number and a unique PIN. A live webcast of the conference call will be available on the investor relations section of Hercules Capital's website. An archived webcast replay will remain accessible on the company's website for at least 30 days following the call.

Hercules Capital, Inc. (NYSE: HTGC) has received a reaffirmed Baa3 investment grade credit and corporate rating from Moody's Investors Service, with a revised outlook to positive from stable. This rating reflects Hercules' strong long-term operating history, internally managed structure, and differentiated venture and growth stage lending model.

The positive outlook is based on expectations of resilient performance despite elevated sector risks, supported by Hercules' focus on senior secured investments, sound underwriting, and effective asset allocation. Moody's anticipates Hercules will maintain superior profitability compared to peers, manage leverage below 1.25x debt-to-equity, and improve its funding and liquidity profile.

Hercules Capital (NYSE: HTGC), the largest specialty financing provider to innovative venture, growth, and established stage companies, has announced its participation in an upcoming financial community event. The company's executive management team will be attending the KBW 2024 BDC Midtown March in New York, NY on Wednesday, October 2, 2024.

Hercules Capital, backed by leading venture capital and select private equity firms, offers financing solutions to companies at various stages of development. Interested parties can arrange meetings with Hercules management through KBW.

Arcus Biosciences (NYSE:RCUS) has secured a $250 million term loan facility from Hercules Capital, enhancing its financial position and operational flexibility. The facility includes $150 million committed, with $50 million drawn at closing and $100 million available at Arcus's discretion. This non-dilutive funding will support the recently announced Phase 3 PEAK-1 study for casdatifan, Arcus's HIF-2a inhibitor for clear cell renal cell carcinoma (ccRCC). The loan matures in five years, extendable to six, with an interest-only period of four years, extendable to five based on regulatory milestones. This financial boost allows Arcus to accelerate its development program for casdatifan across multiple ccRCC settings.

Hercules Capital (NYSE: HTGC) has received a BBB+ investment grade corporate rating reaffirmation from Kroll Bond Rating Agency (KBRA). This rating underscores Hercules' strong 20-year operating record and validates its differentiated business model in specialty financing for innovative venture, growth, and established stage companies.

The BBB+ rating reflects Hercules' diversified investment portfolio, focusing on senior secured first lien venture debt investments in technology and life sciences sectors. It also highlights the company's solid credit quality, robust risk management, and experienced investment team. KBRA's affirmation is supported by Hercules' proven access to capital markets, diversified funding mix, and high proportion of unsecured debt, providing solid protection for noteholders.

Hercules Capital (NYSE: HTGC) reported strong financial results for Q2 2024. The company achieved record total investment income of $125.0 million, up 7.5% year-over-year, and net investment income (NII) of $82.4 million, or $0.51 per share, an 8.8% increase year-over-year. Q2 saw total gross debt and equity commitments of $686.5 million and record gross fundings of $461.5 million, up 28.7% year-over-year. Hercules maintained a conservative balance sheet with net GAAP leverage of 93.3% and net regulatory leverage of 83.9%. The company's assets under management grew to approximately $4.6 billion, a 14.7% increase year-over-year. Hercules also reported an undistributed earnings spillover of $145.0 million, or $0.89 per ending shares outstanding.

Thumbtack, a technology company in the home services industry, has secured $75 million in financing from Silicon Valley Bank and Hercules Capital, Inc. (NYSE: HTGC). This comes after Thumbtack's best fiscal year, surpassing $300 million in revenue and achieving EBITDA profitability in 2023. The company's home segment revenue increased 30% year-over-year, with gross profit margins exceeding 90%.

Thumbtack recently launched its biggest product update, introducing 30 new features in its app. The update provides personalized recommendations for home projects and enables instant booking across over 100 categories. This financing aims to strengthen Thumbtack's position as it works to bring the $600 billion home services industry online, which is currently less than 10% digitized.