Hercules Capital, Inc. - HTGC STOCK NEWS

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.

Bright Machines has secured $132M in its latest funding round, comprised of $100M in equity led by Eclipse Ventures and $32M in debt from Silicon Valley Bank (NASDAQ: SIVB) and Hercules Capital (NYSE: HTGC). This funding aims to enhance the company's software-defined manufacturing capabilities, expand into new industry verticals, and develop additional service offerings. With this round, Bright Machines' total funding since 2018 reaches $330M, positioning it for continued growth in the $250B industrial automation market.

Tricida, Inc. (NASDAQ: TCDA) announced a $125 million debt facility with Hercules Capital, Inc. (NYSE: HTGC). Of this, $100 million is available for Tricida upon meeting certain milestones. This financing aims to support the upcoming NDA resubmission and FDA approval for their drug, veverimer, designed to treat chronic kidney disease (CKD). The loan allows for interest-only payments until August 2024, with possible extensions based on FDA decisions. This partnership is intended to provide non-dilutive capital for Tricida's ongoing development of veverimer.

Hercules Capital, Inc. (NYSE: HTGC) has scheduled its third quarter 2022 financial results conference call for November 2, 2022, at 2:00 p.m. PT (5:00 p.m. ET). Financial results will be released after market close on the same day. The company is a leader in providing senior secured venture growth loans, having committed over $15 billion to more than 590 companies since its inception in December 2003. Investors can access a live webcast of the call on their website, with an archived version available for 30 days.

Hercules Capital, Inc. (NYSE: HTGC) has announced a supplemental cash distribution of $0.15 per share, set to be paid on November 17, 2022, following the record date of November 10, 2022. This distribution is in addition to the regular quarterly cash distribution of $0.36 per share for Q3 2022. The supplemental distribution is derived from undistributed taxable income as of September 30, 2022. Hercules' Board aims to distribute approximately 90% to 100% of its taxable income annually.

Hercules Capital (NYSE: HTGC) has declared a third-quarter 2022 cash distribution of $0.36 per share, with key dates of record on November 10, 2022 and payment on November 17, 2022. The company follows a variable distribution policy, aiming to distribute up to 100% of its taxable income for the year. For Q3 2022, 100% of the declared distributions were from current earnings. Additionally, 87.1% of these distributions qualify as “Qualified Interest Income” exempt from U.S. withholding tax for foreign shareholders.

Hercules Capital, Inc. (NYSE: HTGC) announced that Kroll Bond Rating Agency reaffirmed its investment grade corporate and credit rating at BBB+ with a stable outlook. This rating underscores Hercules' effective venture capital lending strategy and the strong management team's capabilities. The rating reflects the company's focus on senior secured debt investments in technology and life sciences, minimal non-accruals, and solid capital market access. Since its inception, Hercules has committed over $15 billion to more than 590 companies, establishing itself as a leading finance provider.

Provention Bio (Nasdaq: PRVB) announced a term loan facility worth up to $125 million with Hercules Capital (NYSE: HTGC) to bolster its financial standing ahead of the potential commercial launch of teplizumab. The loan is structured in five tranches, with an initial draw of $25 million at closing and the possibility of further disbursements contingent on FDA approval and achievement of specific milestones. This financing aims to enhance the development of therapies for type 1 diabetes and improve the lives of affected individuals.

Hercules Capital (NYSE: HTGC) reported record financial metrics for the first half of 2022, including total gross debt and equity commitments of $1.66 billion and gross fundings of $790.7 million. The net debt investment portfolio grew by $359.8 million. For Q2, total gross debt and equity commitments reached $1.04 billion, and the quarterly base cash distribution increased to $0.35 per share. The company also announced an undistributed earnings spillover of $150.5 million.