Hercules Capital Prices Public Offering of $325.0 Million 2.625% Notes Due 2026
September 13 2021 - 3:41PM
Business Wire
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the
“Company”), today announced that it has priced an underwritten
public offering of $325.0 million in aggregate principal amount of
2.625% notes due September 2026 (the “Notes”). The closing of the
transaction is subject to customary closing conditions and the
Notes are expected to be delivered and paid for on September 16,
2021.
The Notes are unsecured and bear interest at a rate of 2.625%
per year, payable semiannually and will mature on September 16,
2026 and may be redeemed in whole or in part at any time or from
time to time at the Company’s option at par, plus a “make whole”
premium, if applicable.
The Company expects to use the net proceeds from this offering
(i) to repurchase or redeem all or a portion of the Company’s
asset-backed notes (the “Asset-Backed Notes,” comprising the
Company’s 4.605% asset-backed notes due 2027 and 4.703%
asset-backed notes due 2028), (ii) to fund investments in debt and
equity securities in accordance with the Company’s investment
objective, and (iii) for other general corporate purposes.
Goldman Sachs & Co. LLC, SMBC Nikko Securities America,
Inc., MUFG Securities Americas Inc. and RBC Capital Markets, LLC
are acting as joint book-running managers of this offering.
The offering may be made only by means of a preliminary
prospectus supplement and an accompanying prospectus, copies of
which may be obtained from (1) Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing
Prospectus-ny@ny.email.gs.com; and (2) SMBC Nikko Securities
America, Inc., 277 Park Avenue, New York, NY 10177, Attention: Debt
Capital Markets – Transaction Management, Toll Free:
1-888-868-6856: Facsimile: N/A: E-mail:
prospectus@smbcnikko-si.com.
Investors are advised to carefully consider the investment
objectives, risks, charges and expenses of the Company before
investing. The pricing term sheet dated September 13, 2021, the
preliminary prospectus dated September 13, 2021 and the
accompanying prospectus dated April 29, 2019, each of which has
been filed with the SEC, contain this and other information about
the Company and should be read carefully before investing.
The information in the pricing term sheet, the preliminary
prospectus supplement, the accompanying prospectus and this press
release is not complete and may be changed.
The pricing term sheet, the preliminary prospectus supplement,
the accompanying prospectus and this press release do not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of, the Notes 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.
This press release does not constitute a notice of redemption
with respect to any of the Asset-Backed Notes.
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 $12.0
billion to over 530 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
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. 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/20210913005836/en/
Michael Hara Investor Relations and Corporate Communications
Hercules Capital, Inc. (650) 433-5578 mhara@htgc.com
Hercules Capital (NYSE:HTGC)
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