- Brad Koenig, former Head of Global
Technology Investment Banking of Goldman Sachs, brings more than 20
years of investment banking experience
- Jorge Titinger, former President and
CEO of SGI, brings more than 30 years of technology operating
experience
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the
“Company”), the leading specialty financing provider to innovative
venture growth stage companies backed by leading venture capital
firms, today announced the appointments of Brad Koenig, former Head
of Global Technology Investment Banking at Goldman Sachs, and Jorge
Titinger, former President and Chief Executive Officer of Silicon
Graphics International Corp., (“SGI”). Mr. Koenig will serve as an
independent Class II director, effective October 25, 2017. Mr.
Titinger was elected by the Company’s board of directors on October
25, 2017, which will be effective on December 13, 2017, and
ratified on December 13, 2017 upon shareholder approval at the
Company’s annual shareholder meeting on December 13, 2017. Upon
shareholder approval, Mr. Titinger will serve as an independent
Class I director.
“Our two new Directors provide a deep bench of technology
industry expertise and a seasoned operating perspective that
complements our core venture lending franchise and further
diversifies Hercules’ corporate governance,” said Manuel A.
Henriquez, chairman and chief executive officer of Hercules. “Both
Jorge and Brad bring strong track records and we look forward to
their contributions as we continue to execute our portfolio and
earnings growth strategy.”
In addition, Hercules also announced today that Susanne D. Lyons
will not be standing for reelection as a Class I director and is
being replaced by Mr. Titinger. Ms. Lyons served on the Hercules’
board of directors since 2015.
Henriquez concluded, “On behalf of the Board, we’d like to thank
Susanne for her many outstanding insights and contributions to the
Board, her outstanding leadership as Chair of the Compensation
Committee and wish her continued success and health, in her
retirement and as she focuses her attention to the many non-profit
interests she is actively involved with. Thank you.”
Brad Koenig
Brad Koenig brings more than 20+ years of technology investment
banking experience and will serve on the Audit and Nominating and
Corporate Governance Committees. Currently, he serves as Founder
and CEO of FoodyDirect.com, an online specialty food marketplace.
In addition, from 2008 to 2011, he was an Advisor at Oak Hill
Capital Management, a private equity firm. Previously, Mr. Koenig
worked for over twenty years at Goldman Sachs where he became one
of the business leaders in the firm’s Investment Banking Division.
Mr. Koenig was at Goldman Sachs as the Head of Global Technology
Investment Banking from 1990 to 2005, and the Co-Head of Global
Technology, Media and Telecommunications from 2002 to 2005. He
started at Goldman Sachs in 1984.
Mr. Koenig currently serves as an Independent Director for
Theragenics Corporation, a medical device company serving the
surgical products and prostate cancer treatment markets, and for
NGP/VAN Software, a leading technology provider to political
campaigns and non-profit organizations
Mr. Koenig received a Bachelor of Arts degree in Economics from
Dartmouth College and his Master of Business Administration degree
from Harvard Business School.
Jorge L. Titinger
Mr. Titinger brings more than 30 years of senior executive
experience at publicly held technology and semiconductor companies
along with extensive entrepreneurial experience, and will serve on
the Company's Compensation Committee.
He currently serves as Principal and Founder of Titinger
Consulting, a private consulting and advisory service provider
focusing on strategy development and execution, board governance,
operational transformations, and culture changes. From 2012 to
2016, he was President and Chief Executive Officer of SGI, a global
leader in high performance computing. Previously, Mr. Titinger was
president and chief executive officer and member of the Board of
Verigy, Inc., a provider of advanced automated test systems to the
semiconductor industry. Mr. Titinger is a seasoned industry veteran
having served in multiple senior executive roles at FormFactor,
Inc., KLA-Tencor Corporation, Applied Materials, InSync Systems,
Inc., NeTpower, Inc., MIPS Computer Systems/Silicon Graphics, Inc.
and Hewlett-Packard Company.
Mr. Titinger currently serves as an Independent Director for
Xcerra, a provider of products and services to the semiconductor
and electronics manufacturing industry, CalAmp, a pure-play pioneer
in the connected vehicle and IoT marketplace and Transtech Glass
Investment Ltd., a specialty glass company for the transportation
market.
Mr. Titinger received a Bachelor of Science degree in Electrical
Engineering and Master of Science degrees in Electrical Engineering
and Engineering Management and Business, all three from Stanford
University.
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 broad variety of technology, life
sciences and sustainable and renewable technology industries. Since
inception (December 2003), Hercules has committed more than $6.9
billion to over 380 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
under the ticker symbol "HTGC." In addition, Hercules has three
outstanding bond issuances of 6.25% Unsecured Notes due July 2024
(NYSE: HTGX), 4.375% Convertible Senior Notes due February 2022 and
4.625% Unsecured Notes due October 2022.
Forward-Looking Statements
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. You should understand that under Section 27A(b)(2)(B) of
the Securities Act of 1933, as amended, and Section 21E(b)(2)(B) of
the Securities Exchange Act of 1934, as amended, or the Exchange
Act, the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995 do not apply to forward-looking
statements made in periodic reports we file under the Exchange
Act.
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/20171026005487/en/
Hercules Capital, Inc.Michael Hara, 650-433-5578 HT-HNInvestor
Relations and Corporate Communicationsmhara@htgc.com
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