Hercules Capital Closes Public Offering of $40.0 Million 6.25% Notes due 2033
25 September 2018 - 6:10AM
Business Wire
Hercules Capital, Inc. (NYSE:HTGC) (“Hercules” or the
“Company”), today announced that it has closed an underwritten
public offering of $40.0 million in aggregate principal amount of
6.25% Notes due 2033 (the “Notes”).
The Notes will mature on October 30, 2033, 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 October 30, 2023. The Notes will bear
an interest rate of 6.25% per year payable quarterly on January 30,
April 30, July 30, and October 30, of each year, beginning October
30, 2018. The Company intends to apply to list the Notes on the New
York Stock Exchange under the trading symbol “HCXY.” The Company
has also granted the underwriters a 30-day option to purchase up to
an additional $6.0 million in aggregate principal amount of the
Notes to cover over-allotments, if any.
The Company expects to use the net proceeds from this offering
(i) to fund investments in debt and equity securities in accordance
with its investment objective, (ii) to make acquisitions, (iii) to
retire certain debt obligations (which may include the 6.25% Notes
due 2024), and (iv) for other general corporate purposes.
Keefe, Bruyette & Woods, A Stifel Company, Morgan
Stanley and UBS Investment Bank acted as joint book-running
managers of this offering. Janney Montgomery Scott acted as a lead
manager of this offering. BB&T Capital Markets,
B. Riley FBR, Ladenburg Thalmann, Compass Point and
Wedbush Securities acted as co-managers of this offering.
This press release does not constitute a notice of redemption
with respect to any of the 6.25% Notes due 2024.
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 $8.0
billion to over 430 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
five outstanding bond issuances of 6.25% Notes due 2024 (NYSE:
HTGX), 4.375% Convertible Notes due 2022, 4.625% Notes due 2022,
5.25% Notes due 2025 (NYSE: HCXZ) and 6.25% Notes due 2033 (NYSE:
HCXY).
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: https://www.businesswire.com/news/home/20180924005707/en/
Hercules Capital, Inc.Michael Hara, 650-433-5578Investor
Relations and Corporate Communicationsmhara@htgc.com
Hercules Capital (NYSE:HTGC)
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