Fourteen Hercules Portfolio Companies Have Completed or Announced an IPO or M&A Liquidity Event Year-to-Date 2015
20 October 2015 - 9:00PM
Business Wire
- Hercules’ Leading Originations Platform
Continues to Finance Some of the Most Promising Innovative and
Disruptive Venture-Backed Companies in the Market
- Hercules Congratulates Cerecor Inc. on
Its Initial Public Offering (October 2015)
- Hercules Congratulates nContact, Inc.
on Its Completed Acquisition by AtriCure, Inc. (October 2015)
- Hercules Currently Has Five (5)
Portfolio Companies in IPO Registration
Hercules Technology Growth Capital, Inc. (NYSE:HTGC)
(“Hercules”), the leading specialty financing provider to
innovative venture growth stage companies backed by leading venture
capital firms, is pleased to announce the latest liquidity events
for two (2) of its portfolio companies: Cerecor Inc.
(Nasdaq:CERCU), which recently completed an initial public offering
(“IPO”); and nContact, Inc., which was recently
acquired.
Cerecor Inc., a clinical-stage biopharmaceutical company
working to develop innovative drugs that make a difference in the
lives of patients with neurological and psychiatric disorders,
raised approximately $26.0 million by offering approximately 4.0
million shares of its common stock at $6.50 per share. Hercules
initially committed $8.5 million in venture debt and equity
financing to Cerecor in August 2014. Hercules currently holds
approximately 119,000 and 22,000 shares, of common stock and
warrants, respectively, in Cerecor, post the effect of a 28:1
reverse split in September 2015.
nContact, Inc. (formerly known as nContact Surgical,
Inc.), a privately held developer of innovative cardiac ablation
solutions for cardiac arrhythmias, was acquired by AtriCure, Inc.
(Nasdaq:ATRC), a leading innovator in treatments for atrial
fibrillation and left atrial appendage management, for
approximately $99.0 million in common stock and cash, subject to
closing adjustments. Hercules initially committed $20.0 million in
venture debt financing to nContact in November 2014. Hercules
currently holds approximately 201,000 shares, of preferred
warrants, in nContact, as of June 30, 2015.
As of October 19, 2015, Hercules currently has five (5)
additional portfolio companies that have either publicly or
confidentially filed Form S-1 Registration Statements with the
Securities and Exchange Commission in contemplation of a potential
IPO.
- Gelesis, Inc.
- Four (4) companies filed confidentially
under the JOBS Act
There can be no assurances that these companies will complete
their IPOs in a timely manner or at all.
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE:HTGC)
(“Hercules”) is the leading specialty finance company focused on
providing senior secured venture growth loans to high-growth,
innovative venture capital-backed companies in the technology,
biotechnology, life sciences, healthcare, and energy &
renewable technology industries. Since inception (December 2003),
Hercules has committed more than $5.5 billion to over 325 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 New York Stock Exchange
(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 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 Securities and Exchange Commission 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 we identify from time
to time in our filings with the Securities and Exchange Commission.
Although we believe 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/20151020005542/en/
Hercules Technology Growth Capital, Inc.Michael Hara,
650-433-5578 HT-HNInvestor Relations and Corporate
Communicationsmhara@htgc.com
Hercules Capital (NYSE:HTGC)
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