Hercules Capital, Inc. - HTGC STOCK NEWS

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.

Corium, Inc. has secured a $235 million term loan from Hercules Capital, Inc. to accelerate the commercialization of its ADHD treatment, AZSTARYS, and advance its pipeline. The loan includes an initial tranche of $100 million, with additional funds contingent on achieving specific milestones. AZSTARYS, approved by the FDA in March 2021, is the first product containing serdexmethylphenidate, aimed at treating ADHD in patients aged 6 and older. This financing reflects Hercules' confidence in Corium's growth potential.

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.