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Hercules Capital, Inc. - HTGC STOCK NEWS

Welcome to our dedicated page for Hercules Capital news (Ticker: HTGC), a resource for investors and traders seeking the latest updates and insights on Hercules Capital stock.

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.

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IVERIC bio, Inc. (Nasdaq: ISEE) has secured a $250 million term loan debt financing facility from Hercules Capital (NYSE: HTGC) and Silicon Valley Bank. This non-dilutive financing strengthens the company's balance sheet, allowing it to fund the potential launch of Zimura® (avacincaptad pegol) in the U.S., pending regulatory approval. The initial $50 million will be drawn in July 2022, with additional funds contingent on achieving performance milestones. Iveric plans to report data from the GATHER2 clinical trial in September 2022, crucial for Zimura's development.

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Hercules Capital, Inc. (NYSE: HTGC) announced a supplemental cash distribution of $0.15 per share, in addition to its regular quarterly distribution of $0.35 for Q2 2022. The supplemental distribution, to be paid from undistributed taxable income, has a record date of August 9, 2022 and a payment date of August 16, 2022. Hercules aims to distribute 90%-100% of its taxable income quarterly and has designated 87.1% of this distribution as Qualified Interest Income, potentially exempting it from U.S. withholding tax for foreign shareholders.

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Hercules Capital, the leading specialty finance provider, announced a second quarter 2022 cash distribution of $0.35 per share. The record date is August 9, 2022, with payments made on August 16, 2022. The company's distribution policy aims to allocate approximately 90% to 100% of its taxable income. For the second quarter, 87.1% of the declared distributions were from current and accumulated earnings. Hercules has committed over $14 billion to more than 570 companies since its inception in December 2003.

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Hercules Capital, Inc. (NYSE: HTGC) has announced a conference call scheduled for July 28, 2022, at 2:00 p.m. PT to discuss its second quarter 2022 financial results. The results will be released after market close the same day. Hercules Capital, a leader in providing senior secured loans to venture-backed companies, has committed over $14 billion to more than 570 companies since its inception in 2003. Investors can participate through a live webcast or via telephone registration.

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Geron Corporation announces an expansion of its loan facility with Hercules Capital and Silicon Valley Bank, increasing access from $75 million to $125 million. This amendment allows for an additional $50 million in potential non-dilutive capital in 2023, crucial for the company as it anticipates top-line results from the Phase 3 IMerge trial in January 2023. Funding aims to support operations and potential commercialization of imetelstat until mid-2024.

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Hercules Capital (NYSE: HTGC) announced the appointment of DeAnne Aguirre as an independent board member, effective June 23, 2022. With over 30 years of executive experience in managing complex business units, Aguirre will join the Nominating and Corporate Governance Committee. CEO Scott Bluestein highlighted her extensive industry experience as a valuable asset for the firm, especially as it expands its market reach. Aguirre's previous roles include being Managing Partner at PricewaterhouseCoopers and serving on the board of Cisive.

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Hercules Capital has successfully closed two new debt financings, raising a total of $200 million. This includes $150 million in Class A Notes, which have a 4.95% fixed interest rate and mature on July 20, 2031, and $50 million in June Notes, bearing a 6.00% interest rate and maturing on June 23, 2025. The June Notes received a BBB+ rating from Kroll Bond Rating Agency. Hercules has committed over $14 billion since 2003, focusing on senior secured venture growth loans to innovative companies.

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Hercules Capital (NYSE: HTGC) has successfully increased its credit facilities, raising its MUFG facility from $400.0 million to $545.0 million and its SMBC facility from $100.0 million to $175.0 million.

The total combined credit capacity now stands at $720.0 million. This expansion is part of Hercules' strategy to support business growth and capitalize on market opportunities, according to CFO Seth Meyer.

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Hercules Capital, Inc. (NYSE: HTGC) announced a BBB- investment grade credit rating from Fitch Ratings with a stable outlook. This rating acknowledges Hercules' diversified lending model and strong credit track record. Key highlights include a focus on first lien debt investments, a solid asset coverage ratio above 25%, and a flexible funding strategy. Since December 2003, Hercules has committed over $14 billion to more than 570 companies, reinforcing its position as a leading provider of venture growth loans.

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Hercules Capital, Inc. (NYSE: HTGC) will conduct its 2022 Annual Meeting of Stockholders virtually on June 23, 2022, at 9:00 a.m. Pacific Time. The proxy statement was sent on May 4, 2022, to shareholders of record as of April 25, 2022. Key voting matters include the election of two directors, an advisory vote on executive compensation, and the ratification of the independent accounting firm. Hercules Capital provides senior secured venture growth loans and has committed over $14 billion to over 570 companies since its inception in December 2003.

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FAQ

What is the current stock price of Hercules Capital (HTGC)?

The current stock price of Hercules Capital (HTGC) is $19.21 as of December 20, 2024.

What is the market cap of Hercules Capital (HTGC)?

The market cap of Hercules Capital (HTGC) is approximately 3.2B.

What does Hercules Capital, Inc. specialize in?

Hercules Capital specializes in providing senior secured loans to venture capital-backed companies in technology-related industries.

Which industries does Hercules Capital, Inc. focus on?

Hercules Capital focuses on technology, biotechnology, life sciences, and sustainable and renewable energy sectors.

How much has Hercules Capital, Inc. committed since its inception?

Since its inception in December 2003, Hercules Capital has committed over $4.6 billion to more than 300 companies.

What kind of financial products does Hercules Capital, Inc. offer?

Hercules Capital offers a mix of structured debt with warrants, senior debt, and equity investments.

Can you provide an example of a recent investment by Hercules Capital, Inc.?

A recent investment by Hercules Capital includes a $35 million loan facility to SynOx Therapeutics Limited for developing emactuzumab.

Why do companies choose Hercules Capital, Inc.?

Companies choose Hercules Capital for its reliable growth capital, access to an extensive network of contacts, and valuable business advice.

How does Hercules Capital, Inc. support its portfolio companies beyond financial investment?

Beyond financial investment, Hercules Capital offers access to a wide network of contacts and essential business advice to help companies achieve key milestones.

What is a notable recent achievement of Hercules Capital, Inc.?

A notable recent achievement is the $150 million financing to Harness to support the expansion of their software delivery platform.

How does Hercules Capital, Inc. ensure its financial stability?

Hercules ensures financial stability through strategic partnerships, diversified investment portfolios, and deep industry expertise.

What is the significance of Hercules Capital, Inc. in the venture lending space?

Hercules Capital is a leading lender of choice for entrepreneurs and venture capital firms, highlighted by its extensive commitments and successful partnerships with high-growth companies.

Hercules Capital, Inc.

Nasdaq:HTGC

HTGC Rankings

HTGC Stock Data

3.19B
164.61M
1.82%
26.98%
3.49%
Asset Management
Financial Services
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United States of America
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