Hercules Capital, Inc. Closes Public Offering of Common Stock Including Option to Purchase Additional Shares
June 17 2019 - 3:10PM
Business Wire
Hercules Capital, Inc. (NYSE: HTGC) ("Hercules" or the
"Company") today announced that it has closed its underwritten
public offering of 5,000,000 shares of its common stock at a public
offering price of $12.64 per share. In addition, the underwriters
fully exercised their over-allotment option to purchase 750,000
additional shares of Hercules’ common stock. Today’s closing
included the sale of the over-allotment shares, bringing the total
number of shares sold in this offering to 5,750,000. The
underwriters purchased the shares of common stock from Hercules for
a price of $12.2608 per share, and net proceeds from the offering
after deducting estimated offering expenses payable by the Company
are expected to be approximately $70.3 million. Morgan Stanley,
Wells Fargo Securities, and Keefe, Bruyette & Woods, A Stifel
Company, acted as joint book-running managers in this offering, and
Compass Point and Wedbush Securities acted 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 were 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.
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/20190617005814/en/
Michael HaraInvestor Relations and Corporate
CommunicationsHercules Capital, Inc.(650)
433-5578mhara@htgc.com
Hercules Capital (NYSE:HTGC)
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