Hercules Capital, Inc. - HTGC STOCK NEWS

Hercules Capital, Inc. (NYSE: HTGC) has announced a record achievement in its financing activities, originating over $1.5 billion in gross debt and equity commitments year-to-date, surpassing its previous record of $1.47 billion. This milestone reflects the firm's strong market presence and disciplined underwriting approach. The company has also recently completed a public offering of $325 million in 2.625% Notes, enhancing its liquidity and reducing overall debt costs, positioning itself for future investment opportunities.

Hercules Capital, Inc. (NYSE: HTGC) has completed a public offering of $325 million in 2.625% unsecured notes due September 16, 2026. The proceeds will be used to repurchase existing asset-backed notes, fund investments in debt and equity securities, and for general corporate purposes. The Notes, rated Baa3 and BBB+ by Moody's and Kroll Bond Rating Agency respectively, offer semiannual interest payments. Hercules continues to lead in providing growth loans to high-growth, venture-backed companies, having committed over $12 billion since its inception in December 2003.

Hercules Capital, Inc. (NYSE: HTGC) has priced a public offering of $325 million in 2.625% notes due September 2026. The unsecured notes will deliver interest semiannually and can be redeemed at the Company’s option. The net proceeds will be used to repurchase asset-backed notes, fund investments in debt and equity securities, and for general corporate purposes. The offering's completion is subject to customary closing conditions.

Better Therapeutics has secured a loan facility of up to $50 million from Hercules Capital (NYSE: HTGC) as part of a total financing package of $150 million, including a pending SPAC merger and PIPE investment. This funding aims to advance its clinical pipeline and commercialize its first prescription digital therapeutic (PDT) for type 2 diabetes. The company is at a pivotal point in its development, with ongoing studies to test their innovative cognitive behavioral therapy aimed at treating cardiometabolic diseases.

Hercules Capital, Inc. (NYSE: HTGC) has achieved over $1.0 billion in total debt and equity commitments year-to-date, marking the fourth consecutive year of such performance. CEO Scott Bluestein stated that the company is positioned to surpass its previous record of $1.47 billion in total commitments. The strong performance is attributed to the Technology and Life Sciences teams. Since 2003, Hercules has committed over $12.0 billion to more than 530 companies, making it a preferred financing partner in the venture growth sector.

Hercules Capital (HTGC) reported strong financial results for Q2 2021, achieving 100% coverage of dividend distributions with net investment income (NII) of $37.0 million, or $0.32 per share. Total investments increased to $2.4 billion, with net debt portfolio growth of nearly $57 million. The company maintained strong liquidity with $610 million available. Notably, 26 portfolio companies had exit events, contributing to $160 million in undistributed earnings spillover. However, effective yields decreased to 12.7% and there were net realized losses of $14.3 million this quarter.

Hercules Capital, Inc. (NYSE: HTGC) has announced a supplemental cash distribution of $0.07 per share, to be paid from undistributed taxable income as of June 30, 2021. The distribution will be made on August 18, 2021, with a record date of August 11, 2021. This is in addition to the regular quarterly cash distribution of $0.32 per share for Q2 2021. Hercules aims to distribute approximately 90% to 100% of its taxable income annually. Notably, 87.7% of the Q2 distributions are classified as Qualified Interest Income, possibly exempt from U.S. withholding tax for foreign investors.

Hercules Capital, Inc. (NYSE: HTGC) has announced a cash distribution of $0.32 per share for the second quarter of 2021, with a record date of August 11, 2021 and a payment date of August 18, 2021. The company follows a variable distribution policy aiming to distribute approximately 90% to 100% of its taxable quarterly income. As of the second quarter, 87.7% of the declared distributions are classified as Qualified Interest Income (QII), which may benefit non-U.S. shareholders by being exempt from U.S. withholding tax.

Hercules Capital, Inc. (NYSE: HTGC), the top specialty financing provider, has scheduled its second quarter 2021 financial results conference call for July 29, 2021, at 2:00 p.m. PT. The company will release its financial results after market close on the same day. A live webcast will be available on the investor relations section of Hercules' website, and a replay will be accessible for seven days post-call. Since its inception, Hercules has committed over $11.6 billion to more than 530 companies, focusing on senior secured loans to high-growth, innovative firms.