Hercules Capital Reaches $8.0 Billion Milestone in Total Debt Commitments Since 2003
August 03 2018 - 5:00AM
Business Wire
This originations milestone is the result of
Hercules’ successful work with more than 1,000 venture capital
partners and 430 innovative companies and entrepreneurs they invest
in, combined with Hercules’ world-class team of investment
professionals
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
and private equity firms, today announced that it has originated
more than $8.0 billion in total debt commitments since the
Company’s inception in December 2003.
“The achievement of this investment milestone illustrates the
significance of Hercules’ scale, focus and market leadership
position as the largest Business Development Company (“BDC”) in the
venture debt space,” said Manuel A. Henriquez, chairman and chief
executive officer of Hercules Capital. “Our success on this front
is attributable to our world-class investment team who are able to
identify some of the most innovative, disruptive and promising
companies in our core sectors. Most importantly, they do this while
still maintaining our strict underwriting standards and this
unwavering discipline has limited cumulative realized losses to
just 0.54 percent of total commitments since inception. This has
enabled us to continue to grow and increase shareholder value.”
Select Hercules Achievements Since December 2003
- Commitments to more than 430 portfolio
companies
- Worked with more than 1,000 different
venture capital and private equity sponsors
- Recognized cumulative total net
realized gain/(loss) since inception of ($42.8 million)
- Over 130 Hercules portfolio companies
have experienced a liquidity event such as an IPO or M&A
event
- $1.79 billion in total assets under
management (“AUM”) (as of June 30, 2018)
- Hercules has consistently traded at a
premium to Net Asset Value (“NAV”) compared to a majority of its
BCD peers, and has a market capitalization of $1.3 billion as of
July 31, 2018
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
four outstanding bond issuances of 6.25% Notes due 2024 (NYSE:
HTGX), 4.375% Convertible Notes due 2022, 4.625% Notes due October
2022 and 5.25% Notes due 2025 (NYSE: HCXZ).
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/20180803005093/en/
Hercules Capital, Inc.Michael Hara, 650-433-5578Investor
Relations and Corporate Communicationsmhara@htgc.com
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