Hercules Issues Additional $9.0 Million in Principal of 6.25% Notes Due 2024 to Cover Underwriters Over-Allotment Option
05 Juli 2016 - 4:36PM
Business Wire
Aggregate Proceeds of Notes Increased to
$69.0 Million
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the
“Company”) today announced that in connection with the recent
public offering of $60.0 million in aggregate principal amount of
6.25% notes due 2024 (the “Existing Notes”), the underwriters
exercised their option to purchase an additional $9.0 million in
aggregate principal amount of 6.25% notes due 2024 (the “Notes”) to
cover over-allotments. The transaction closed on July 5, 2016,
bringing the total size of the offering to $69.0 million.
The Notes will trade with the Existing Notes on the New York
Stock Exchange (the “NYSE”) under the symbol “HTGX.”
As previously announced, the Company intends to invest the net
proceeds of the Existing Notes and Notes offering to fund the
Company's investments in debt and equity securities in accordance
with its investment objective and for other general corporate
purposes.
The Notes will mature on July 30, 2024, and may be redeemed in
whole or in part at any time or from time to time at the Company's
option on or after July 30, 2017. The Notes will bear interest at a
rate of 6.25% per year payable quarterly on January 30, April 30,
July 30 and October 30, of each year, beginning July 30, 2016. The
Existing Notes and the Notes have been assigned a BBB+ rating by
the Kroll Bond Rating Agency and a BBB- rating by Standard &
Poor’s.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) is the leading
and largest specialty finance company focused on providing senior
secured venture growth loans to high-growth, innovative venture
capital-backed companies in a broadly diversified variety of
technology, life sciences and sustainable and renewable technology
industries. Since inception (December 2003), Hercules has committed
more than $6.0 billion to over 350 companies and is the lender of
choice for entrepreneurs and venture capital firms seeking growth
capital financing. Companies interested in learning more about
financing opportunities should contact info@htgc.com, or call
650.289.3060.
Hercules’ common stock trades on the NYSE under the ticker
symbol “HTGC.”
In addition, Hercules has three outstanding bond issuances of
7.00% Notes due April 2019, 7.00% Notes due September 2019, and
6.25% Notes due July 2024, which trade on the NYSE under the
symbols “HTGZ,” HTGY,” and “HTGX,” respectively.
Forward-Looking Statements
The information disclosed in this press release is made as of
the date hereof and reflects Hercules most current assessment of
its historical financial performance. Actual financial results
filed with the SEC may differ from those contained herein due to
timing delays between the date of this release and confirmation of
final audit results. These forward-looking statements are not
guarantees of future performance and are subject to uncertainties
and other factors that could cause actual results to differ
materially from those expressed in the forward-looking statements
including, without limitation, the risks, uncertainties, including
the uncertainties surrounding the current market volatility, and
other factors the Company identifies from time to time in its
filings with the SEC. Although Hercules believes that the
assumptions on which these forward-looking statements are based are
reasonable, any of those assumptions could prove to be inaccurate
and, as a result, the forward-looking statements based on those
assumptions also could be incorrect. You should not place undue
reliance on these forward-looking statements. The forward-looking
statements contained in this release are made as of the date
hereof, and Hercules assumes no obligation to update the
forward-looking statements for subsequent events.
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version on businesswire.com: http://www.businesswire.com/news/home/20160705005733/en/
Hercules Capital, Inc.Michael Hara, 650-433-5578 HT-HNInvestor
Relations and Corporate Communicationsmhara@htgc.com
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