Hercules Capital, Inc. - HTGC STOCK NEWS

Hercules Capital has priced an underwritten public offering of $350 million in 3.375% notes maturing on January 20, 2027. The offering is subject to customary conditions and expected to close on January 20, 2022. Proceeds will be used to repay 4.375% convertible notes due 2022, fund investments, and for general corporate purposes. The company has committed over $13 billion since its inception in December 2003, focusing on growth loans for venture-backed companies.

NorthSea Therapeutics B.V. has successfully closed a USD 80 million Series C financing round, co-led by Ysios Capital and Forbion Growth. New investors include Hercules Capital. The funds will enhance the development of their pipeline focused on treating non-alcoholic steatohepatitis (NASH) and other metabolic diseases. The lead product, Icosabutate, has shown promising results in ongoing clinical trials, with plans to advance into phase 3 next year.

Hercules Capital (NYSE: HTGC) has achieved a record $2.0 billion in gross debt and equity commitments year-to-date, surpassing its previous record of $1.47 billion. This milestone is attributed to the company's robust venture and growth stage lending platform and diverse strategies. CEO Scott Bluestein highlighted the importance of quality team dynamics and disciplined underwriting for long-term success. Hercules has committed over $13 billion since its inception in 2003 and continues to lead in providing growth loans to innovative companies.

Hercules Capital, Inc. (NYSE: HTGC) has announced a new $100 million multi-currency credit facility with Sumitomo Mitsui Banking Corporation effective November 9, 2021. This facility features an accordion feature expandable to $150 million, with an interest rate of LIBOR plus 1.875% and a maximum advance rate of 75%. Additionally, Hercules recently completed a 5-year, $325 million investment-grade bond offering at 2.625%. These financial maneuvers aim to reduce capital costs and enhance operational flexibility for Hercules Capital.

Hercules Capital, Inc. (NYSE: HTGC) announced its participation in the Jefferies Sixth Annual Virtual BDC Summit on November 17, 2021, and the JMP Securities Financial Services and Real Estate Conference on November 18, 2021. The Company specializes in providing senior secured venture growth loans to high-growth companies in technology and life sciences. Since its inception in December 2003, Hercules has committed over $12.8 billion to more than 540 companies. Hercules also manages investments through its subsidiary, Hercules Adviser LLC.

Hercules Capital (NYSE: HTGC) has announced a supplemental cash distribution of $0.07 per share, to be paid on November 17, 2021. This is in addition to the regular quarterly distribution of $0.33 per share for Q3 2021. The supplemental payment will come from undistributed taxable income as of September 30, 2021. The company maintains a distribution policy aiming to distribute approximately 90%-100% of its taxable income, with 88.6% of the current distributions categorized as Qualified Interest Income exempt from U.S. withholding tax for non-U.S. shareholders.

Hercules Capital (NYSE: HTGC) has declared a cash distribution of $0.33 per share for Q3 2021. The record date is set for November 10, 2021, with payment occurring on November 17, 2021. The company maintains a variable distribution policy to distribute approximately 90% to 100% of its taxable income. For Q3 2021, 88.6% of the declared distributions were classified as Qualified Interest Income (QII), which may be exempt from U.S. withholding tax for non-U.S. shareholders. Hercules has committed over $12.0 billion to more than 530 companies since its inception.

Hercules Capital has appointed Pam Randhawa to its Board of Directors, effective November 1, 2021. With over 20 years in the healthcare and life sciences sectors, her background includes leadership positions at McKesson and her own firm, Empiriko Corporation. Randhawa's expertise is expected to enhance the board's capabilities as Hercules focuses on long-term growth and shareholder returns. CEO Scott Bluestein praised her contributions within the life sciences community, indicating her appointment is part of a strategy to bolster the company's leadership team.

Hercules Capital, Inc. (NYSE: HTGC) will release its third quarter 2021 financial results on October 28, 2021, after market close, followed by a conference call at 2:00 p.m. PT (5:00 p.m. ET). The call will be accessible via telephone and a live webcast on the company's investor relations website. Hercules Capital, a leading specialty finance provider, has committed over $12 billion to more than 530 companies since its inception in December 2003. The company primarily focuses on senior secured loans to high-growth, innovative firms.