Hercules Capital, Inc. - HTGC STOCK NEWS

Hercules Capital (NYSE: HTGC) announced its financial results for Q4 and full-year 2022, highlighting record total gross debt and equity commitments of $3.12 billion and net investment income (NII) of $188.1 million, up 25.4% from the previous year. The total investment income for Q4 reached $100.2 million, increasing 38.3%. The company enhanced its cash distribution to $0.39 per share and announced a supplementary cash distribution of $0.32 for 2023. Additionally, it reported an increase in assets under management to over $3.6 billion, a 29.3% increase year-over-year.

Hercules Capital has announced a new supplemental cash distribution of $0.08 per share for the fourth quarter of 2022, in addition to the regular distribution of $0.39 per share. This distribution, totaling $0.32 per share over four quarters, will be paid from undistributed taxable income as of December 31, 2022. The record date for this payment is March 2, 2023, with payments made on March 9, 2023. Approximately 89.65% of the distributions will qualify as Qualified Interest Income exempt from U.S. withholding tax for foreign shareholders.

Hercules Capital, Inc. (NYSE: HTGC) has declared a fourth quarter 2022 cash distribution of $0.39 per share, with a record date of March 2, 2023 and a payment date of March 9, 2023. The company follows a variable distribution policy aiming to distribute approximately 90% to 100% of its taxable income each year. For the fourth quarter, 100% of distributions came from current and accumulated earnings. Notably, 89.65% of the declared distributions were categorized as Qualified Interest Income, potentially exempt from U.S. tax for foreign investors. Hercules has committed over $16 billion to more than 600 companies since its inception in December 2003.

Provention Bio, Inc. (Nasdaq: PRVB) has announced the closing of a $40 million second tranche under a $125 million term loan facility with Hercules Capital (NYSE: HTGC). This funding aims to support the commercial launch of TZIELD^®, a treatment for Stage 2 type 1 diabetes. CEO Ashleigh Palmer highlighted the positive reception of TZIELD^® from patients and prescribers, noting favorable coverage policies from major payers. The loan facility will be drawn in multiple tranches, with further funding contingent upon milestone achievements. The revised loan terms will lower the interest rate, enhancing financial flexibility.

Hercules Capital, Inc. (NYSE: HTGC) has announced its conference call for fourth quarter and full-year 2022 financial results, scheduled for February 16, 2023, at 2:00 p.m. PT. The company, a leader in providing specialty financing to innovative growth companies, will release its financial results after market close that day. Hercules has committed over $16 billion to more than 600 companies since its inception in December 2003, focusing primarily on technology and life sciences sectors. Investors can access the call via registration, with a live webcast also available on its investor relations website.

Hercules Capital (NYSE: HTGC) announced its participation in the KBW BDC Midtown event on December 14, 2022, in New York, NY. The company, a leading specialty finance provider, focuses on senior secured venture growth loans for high-growth, venture capital-backed firms across technology, life sciences, and renewable sectors. Since December 2003, Hercules has committed over $16 billion to more than 600 companies, positioning itself as a crucial lender for entrepreneurs. Additionally, Hercules has a retail bond issuance (NYSE: HCXY).

On November 16, 2022, Silicon Valley Bank and Hercules Capital announced a $300 million credit facility for Oak Street Health (NYSE: OSH). This financing aims to support Oak Street's operational and strategic initiatives over several years. The partnership reflects strong relationships built over the years. Oak Street Health focuses on value-based primary care for Medicare-eligible patients, particularly those in underserved communities. The collaboration underlines both banks' commitment to healthcare innovation and Oak Street's growth.

Hercules Capital, Inc. (NYSE: HTGC) has announced the participation of its executive management team in several upcoming financial community events. These include the Jefferies BDC Summit and FitchRatings BDC Conference on November 16, 2022, followed by the JMP Securities Financial Services and Real Estate Conference on November 17, 2022. Hercules Capital, the largest specialty financing provider, has committed over $16 billion to more than 600 companies since its inception in December 2003, focusing on senior secured venture growth loans for innovative sectors.

Hercules Capital, Inc. (NYSE: HTGC) reported a record total gross debt and equity commitments of $2.48 Billion for Q3 2022, with gross fundings reaching $1.10 Billion. The company saw a net debt portfolio growth of $465.1 Million and total investment income increased by 20% year-over-year to $84.2 million. Hercules also announced a net investment income of $0.39 per share, covering the increased base distribution payout of $0.36.

Undistributed earnings stand at $134.1 Million.