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Harness has announced a $150 million financing round with investments from Silicon Valley Bank and Hercules Capital. This funding will support expanding the Harness platform, adding new modules, integrating generative AI, and investing in go-to-market strategies. The company, which has seen its Annual Recurring Revenue (ARR) grow from $1 million to over $100 million in five years, aims to enhance developer productivity and reduce non-code-producing work.
Key milestones include 44 million code deployments in 2023, the introduction of generative AI assistant AIDATM, launch of four new product modules, and the addition of enterprise customers like Nike and NetApp. The financing will enable Harness to continue innovating and expanding its market-leading software delivery platform.
Hercules Capital, Inc. (NYSE: HTGC) has announced that its 2024 Annual Meeting of Stockholders will be held virtually on June 20, 2024. The meeting will cover important matters such as the election of directors, executive compensation, authorization to sell shares below NAV, and ratification of the accounting firm.
Electric Hydrogen secured a $100M credit facility from HSBC, J.P. Morgan, Stifel Bank, and Hercules Capital to support the manufacturing and deployment of their 100MW electrolyzer plants for the production of green hydrogen. The funding will enable Electric Hydrogen to advance its mission of decarbonizing critical industries such as steel, fertilizer, shipping, and aviation.
Hercules Capital, Inc. (NYSE: HTGC) announced their participation in the Wells Fargo 2024 Financial Services Investor Conference. The event will provide an opportunity for the financial community to engage with the company's executive management team.
Hercules Capital, Inc. (NYSE: HTGC) reported record Q1 2024 financial results with total gross debt and equity commitments up by 81.7%, gross fundings up by 27.1%, total investment income up by 15.7%, net investment income up by 20.9%, NII providing 125% coverage of base cash distribution, undistributed earnings spillover of $142.7 million, approximately $4.5 billion of assets under management, and conservative balance sheet management.
Hercules Capital, Inc. (NYSE: HTGC) declared a total cash distribution of $0.48 per share for the first quarter of 2024, consisting of a $0.40 per share base distribution and an $0.08 per share supplemental distribution. The company aims to distribute 90% to 100% of its taxable quarterly income or potential annual income. The distributions declared in the first quarter of 2024 were derived from the company's current and accumulated earnings and profits. Hercules also designated 83.85% of Qualified Interest Income for the first quarter of 2024 as exempt from U.S. withholding tax for non-U.S. shareholders.
SynOx Therapeutics has secured a $35m debt financing with Hercules Capital to advance the development and commercialization of emactuzumab, a potential best-in-class CSF1(R) inhibiting monoclonal antibody. The company is conducting a Phase 3 study for the treatment of Tenosynovial Giant Cell Tumour (TGCT) and other diseases. The loan facility will support clinical work, registration, and commercialization of emactuzumab, enhancing the company's financial position.