Hercules Technology Growth Capital Announces the Continued Convertibility of Its 6.00% Convertible Senior Notes Due 2016 Thro...
January 07 2015 - 3:05PM
Business Wire
Approximately $57.4 million of the existing
notes have exercised conversion
Hercules Technology Growth Capital, Inc. (NYSE:HTGC), the
leading specialty finance company focused on providing senior
secured loans to venture capital-backed companies in
technology-related markets, including technology, biotechnology,
life science, and energy & renewable technology, at all stages
of development, today announced that holders of its 6.00%
Convertible Senior Notes due 2016 have been notified that the stock
trading price conversion requirement was met during the three
months ended December 31, 2014.
The trading price requirement is set forth in the indenture,
dated April 15, 2011, between Hercules and U.S. Bank N.A., as
trustee. Upon meeting the stock trading price conversion
requirement during the three months ended December 31, 2014, the
Convertible Senior Notes continued to be convertible on January 1,
2015 and continue to be convertible through March 31, 2015. The
current conversion price of the Convertible Senior Notes is
approximately $11.36 per share of common stock, in each case
subject to adjustment in certain circumstances.
The trustee for the 6.00% Convertible Senior Notes due 2016 has
informed Hercules that, to date, holders of approximately
$57,358,000 in principal amount of the notes have exercised their
conversion rights, which conversion has been and will continue to
be settled pursuant to the terms of the indenture whereby Hercules
has elected to settle the outstanding principal amount of the
tendered notes in cash, and Hercules will issue shares of its
common stock for the remainder of the settlement amount.
Remaining holders of outstanding Convertible Senior Notes
interested in converting should follow the conversion procedures
set forth in the indenture, which include, as applicable, providing
notices and following the procedures required by the depository and
the trustee.
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) is the
leading specialty finance company focused on providing senior
secured loans to venture capital-backed companies in
technology-related markets, including technology, biotechnology,
life science, and energy & renewable technology, at all stages
of development. Since inception (December 2003), Hercules has
committed more than $4.6 billion to over 300 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
7.00% Senior Notes due April 2019, 7.00% Senior 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
Statements in this press release may constitute forward-looking
statements for purposes of the safe harbor protection under
applicable securities laws. Forward-looking statements can be
identified by terminology such as “anticipate,” “believe,” “could,”
“estimate,” “expect,” “intend,” “is planned,” “may,” “should,”
“will,” “will enable,” “would be expected,” “look forward,” “may
provide,” “would” or similar terms, variations of such terms or the
negative of those terms. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors including,
without limitation, those risks, uncertainties and factors referred
to in the “Risk Factors” section of the Hercules Annual Report on
Form 10-K for the year ended December 31, 2013, as well as the
other documents and reports filed by Hercules with the Securities
Exchange Commission. As a result of such risks, uncertainties and
factors, actual results may differ materially from any future
results, performance or achievements discussed in or implied by the
forward-looking statements contained herein. Hercules is providing
the information in this press release as of this date and assumes
no obligations to update the information included in this press
release or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Hercules Technology Growth Capital, Inc.Michael Hara,
650-433-5578Investor Relations and Corporate
Communicationsmhara@htgc.comorMarket Street PartnersEd Keaney,
415-445-3238ekeaney@marketstreetpartners.com
Hercules Capital (NYSE:HTGC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hercules Capital (NYSE:HTGC)
Historical Stock Chart
From Jul 2023 to Jul 2024