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Hercules Capital, Inc. (NYSE: HTGC) is a premier specialty finance company dedicated to providing senior secured loans to high-growth, venture capital-backed companies in technology-related markets. Established in December 2003, Hercules has positioned itself as a key player in the venture lending space, committing over $4.6 billion to more than 300 companies across various stages of development. The company focuses on sectors such as technology, biotechnology, life sciences, and sustainable and renewable energy.
Hercules Capital stands out by offering more than just financial support. The company provides vital access to its expansive network of contacts and invaluable business advice, helping entrepreneurial companies achieve significant milestones. Their investment portfolio includes a mix of structured debt with warrants, senior debt, and equity investments.
Recent achievements include a $35 million loan facility to SynOx Therapeutics Limited to support the development of emactuzumab, a next-generation monoclonal antibody for treating Tenosynovial Giant Cell Tumour (TGCT). Another notable investment is the $150 million financing to Harness, a Modern Software Delivery Platform company, to expand its platform with new modules and enhance its use of generative AI.
Hercules Capital’s strategic partnerships and financial solutions make it the lender of choice for venture-backed companies seeking reliable growth capital. The company’s financial stability and extensive industry expertise ensure that it remains a trusted partner for innovation-driven businesses looking to scale.
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.
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