Hercules Capital, Inc. Prices Public Offering of Common Stock
13 June 2019 - 8:00PM
Business Wire
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) today announced
that it has priced its public offering of 5,000,000 shares of its
common stock at a public offering price of $12.64 per share for
total gross proceeds of approximately $63.2 million. Hercules has
also granted the underwriters an option to purchase up to an
additional 750,000 shares of its common stock. The offering is
subject to customary closing conditions and is expected to close on
June 17, 2019. Morgan Stanley, Wells Fargo Securities, and
Keefe, Bruyette & Woods, A Stifel Company, are acting as
joint book-running managers in this offering, and Compass Point and
Wedbush Securities are acting as co-managers in this offering.
Hercules 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, and (iii) for other general corporate
purposes.
The securities described above are being offered by Hercules
pursuant to an effective shelf registration statement previously
filed with and deemed immediately effective upon filing by the
Securities and Exchange Commission (the “SEC”) on April 29, 2019.
The offering may be made only by means of a prospectus supplement
and the accompanying prospectus, copies of which may be obtained
from (1) Morgan Stanley & Co. LLC, 180 Varick Street,
2nd Floor, New York, NY 10014, Attn: Prospectus Department;
(2) Wells Fargo Securities, Attention: Equity Syndicate
Department, 375 Park Avenue, New York, New York 10152, by telephone
at (800) 326-5897, or by email at
cmclientsupport@wellsfargo.com; or (3) Keefe,
Bruyette & Woods, Inc., Attention: Capital Markets, 787
Seventh Avenue, 4th Floor, New York, NY 10019; or by calling Keefe,
Bruyette & Woods, Inc., toll-free
at (800) 966-1559; or by e-mailing Keefe,
Bruyette & Woods, Inc. at uscapitalmarkets@kbw.com.
Investors are advised to carefully consider the investment
objectives, risks, and charges and expenses of Hercules before
investing. The prospectus supplement and the accompanying
prospectus, which have been filed with the SEC, contain this and
other information about Hercules and should be read carefully
before investing.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
the shares in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
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 $8.9
billion to over 460 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
six outstanding bond issuances of:
Institutional Notes PAR $1000.00
Retail Notes (“Baby Bonds”) PAR $25.00
- 5.25% Notes due 2025 (NYSE: HCXZ)
- 6.25% Notes due 2033 (NYSE: HCXY)
Convertible Notes
- 4.375% Convertible Notes due 2022
Securitization Notes
- 4.605% Asset-backed Notes due 2027
- 4.703% Asset-backed Notes due 2028
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/20190613005160/en/
Michael HaraInvestor Relations and Corporate
CommunicationsHercules Capital, Inc.(650)
433-5578mhara@htgc.com
Hercules Capital (NYSE:HTGC)
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