Form 8-K - Current report
17 July 2024 - 10:31PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 2024
Hercules Capital, Inc.
(Exact name of registrant as specified in its charter)
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Maryland |
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814-00702 |
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74-3113410 |
(State or other jurisdiction of incorporation) |
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(Commission File No.) |
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(I.R.S. Employer Identification No.) |
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1 North B Street, Suite 2000 |
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San Mateo, CA |
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94401 |
(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (650) 289-3060
Not Applicable
(Former name or address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Common Stock, par value $0.001 per share |
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HTGC |
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New York Stock Exchange |
6.25% Notes due 2033 |
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HCXY |
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New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On July 17, 2024, Hercules Capital, Inc. issued a press release announcing it received approval from the U.S. Small Business Administration for its fourth Small Business Investment Company license. The text of the press release is included as an exhibit to this Form 8-K.
Item 9.01 |
Financial Statements and Exhibits |
(d) Exhibits
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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HERCULES CAPITAL, INC. |
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July 17, 2024 |
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By: |
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/s/ Kiersten Zaza Botelho |
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Kiersten Zaza Botelho |
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Secretary |
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Exhibit 99.1
Hercules Capital Receives SBA Approval for Its
Fourth SBIC License
SAN MATEO, Calif.,
July 17, 2024 Hercules Capital, Inc. (NYSE: HTGC) (Hercules or the Company), the largest and leading specialty financing provider to innovative venture, growth and established stage
companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that the U.S. Small Business Administration (SBA) has approved its fourth Small
Business Investment Company (SBIC) subsidiary, following the Companys prior receipt of its green light letter to submit an application to obtain a fourth license to the SBA committee.
We are extremely pleased to receive approval from the SBA. Our long-standing partnership with the SBIC program remains an important and strategic
component to maintaining a highly liquid and diversified balance sheet and it provides us with further flexibility to be able to continue to support small and growth-oriented businesses, said Scott Bluestein, chief executive officer and chief
investment officer of Hercules Capital. Our fourth SBIC license enables us to continue to fund the needs of many innovative technology and life sciences companies seeking growth capital while helping to maintain our overall blended cost of
capital by accessing favorable long-term financing.
Hercules fourth SBIC license is held by a subsidiary of the Company and provides access
to additional growth capital of $175.0 million of long-term debentures, bringing Hercules combined borrowing capacity through the SBIC program to a total of $350.0 million of capital.
The SBA program has played an important role within Hercules funding strategy since receiving its first SBIC license in September 2006. Hercules
received exemptive relief from the Securities and Exchange Commission that allows Hercules to exclude SBIC leverage from applicable asset coverage limits.
About Hercules Capital, Inc.
Hercules Capital, Inc.
(NYSE: HTGC) 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 $20 billion to over 650 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.
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Hercules, through its wholly owned subsidiary business, Hercules Adviser LLC (Hercules Adviser),
also maintains an asset management business through which it manages investments for external parties (Adviser Funds). Hercules Adviser is registered as an investment adviser under the Investment Advisers Act of 1940.
Hercules common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol HTGC. In addition, Hercules has one retail bond
issuance of 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. We may use
words such as anticipates, believes, expects, intends, will, should, may and similar expressions to identify forward-looking statements. Forward-looking statements
are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and
uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report
on Form 10-K and other materials that we publicly file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are made only as of the date hereof. Hercules
assumes no obligation to update any such statements in the future.
Contact:
Michael Hara
Investor Relations and Corporate Communications
Hercules Capital, Inc.
650-433-5578
mhara@htgc.com
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