Hercules Prices an Additional $60.0 Million of 6.25% Notes Due 2024
June 23 2016 - 6:00AM
Business Wire
Hercules Capital, Inc. (NYSE:HTGC) (“Hercules” or the “Company”)
announced the pricing of an underwritten public offering of an
additional $60.0 million in aggregate principal amount of its 6.25%
unsecured notes due 2024 (the “Notes”). The Notes constitute a
further issuance of, rank equally in right of payment with, and
form a single series with the $175.9 million in aggregate principal
amount of the 6.25% unsecured notes due 2024 that the Company
issued on July 14, 2014 and May 2, 2016, respectively (the
“Existing Notes”).
The Existing Notes currently trade on the New York Stock
Exchange under the symbol “HTGX” and it is anticipated that the
additional $60.0 million in aggregate principal amount of the Notes
will trade under the same symbol. The Existing Notes and Notes will
mature on July 30, 2024, and may be redeemed in whole or in
part at any time or from time to time at the Company’s option on or
after July 30, 2017. The Notes will bear interest at a rate of
6.25% per year payable quarterly on January
30, April 30, July 30 and October 30, of
each year, beginning July 30, 2016. The Company has also
granted the underwriters a 30-day option to purchase up to an
additional $9.0 million in aggregate principal amount of the Notes
to cover overallotments, if any.
The Company intends to invest the net proceeds of this public
offering to fund investments in debt and equity securities in
accordance with its investment objective and for other general
corporate purposes.
Keefe, Bruyette & Woods, A Stifel Company, Morgan Stanley
and Wells Fargo Securities are acting as joint book-running
managers of this offering. Janney Montgomery Scott is acting as a
lead manager of this offering. BB&T Capital Markets, JMP
Securities, Ladenburg Thalmann, Piper Jaffray and Wunderlich are
acting as co-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) Keefe, Bruyette & Woods, A
Stifel Company, Attention: Capital Markets, 787 Seventh Avenue, 4th
Floor, New York, NY 10019; or by calling Keefe, Bruyette &
Woods, A Stifel Company, toll-free at (800) 966-1559; or by
e-mailing Keefe, Bruyette & Woods, A Stifel Company at
uscapitalmarkets@kbw.com; (2) Wells Fargo Securities, 608 2nd
Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer
Service, or by calling Wells Fargo Securities at (800) 645-3751 or
by emailing Wells Fargo Securities at
wfscustomerservice@wellsfargo.com; (3) Morgan Stanley, 180 Varick
Street, New York, NY 10014, Attn: Prospectus Department or by
calling Morgan Stanley at (866) 718-1649, or by e-mailing Morgan
Stanley at prospectus@morganstanley.com.
Investors are advised to carefully consider the investment
objectives, risks and charges and expenses of the Company before
investing. The preliminary prospectus supplement and accompanying
prospectus contain this and other information about the Company and
should be read carefully before investing.
This press release shall 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.
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 broadly diversified variety of
technology, life sciences and sustainable and renewable technology
industries. Since inception (December 2003), Hercules has committed
more than $5.9 billion to over 350 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 three outstanding bond issuances of
7.00% Notes due April 2019, 7.00% 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:
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160623005247/en/
Hercules Capital, Inc.Michael Hara, 650-433-5578 HT-HNInvestor
Relations and Corporate Communicationsmhara@htgc.com
Hercules Capital 6.25% Notes Due 2024 (delisted) (NYSE:HTGX)
Historical Stock Chart
From Jul 2024 to Aug 2024
Hercules Capital 6.25% Notes Due 2024 (delisted) (NYSE:HTGX)
Historical Stock Chart
From Aug 2023 to Aug 2024