PALO ALTO, Calif.--(BUSINESS WIRE)--
Capital, Inc. (NYSE:HTGC) ("Hercules" or the "Company"), today
announced that it plans to make an offering of $150.0 million aggregate
principal amount of its Convertible Senior Notes due 2022. The Company
plans to grant the initial purchaser an option to purchase up to an
additional $22.5 million principal amount of the Convertible Senior
Notes to cover overallotments, if any. The Convertible Senior Notes will
be offered only to qualified institutional buyers (as defined in the
Securities Act of 1933, as amended (the "Securities Act")) pursuant to
Rule 144A under the Securities Act.
The Convertible Senior Notes are unsecured, will pay interest
semiannually and will be convertible under specified circumstances based
on a conversion rate to be determined. Upon conversion, the Company will
pay or deliver, subject to the terms of the documents governing the
Convertible Senior Notes, cash, shares of the Company's common stock or
a combination of cash and shares of common stock, at the Company's
election. The Company will not have the right to redeem the Convertible
Senior Notes prior to maturity. The Convertible Senior Notes will mature
on February 1, 2022, unless repurchased or converted in accordance with
their terms prior to such date.
The Company intends to use the net proceeds from this offering (i) to
repurchase or otherwise redeem all of its 7.00% Notes due 2019, (ii) to
fund investments in debt and equity securities in accordance with its
investment objective and (iii) for working capital and other general
Neither the Convertible Senior Notes nor the common stock that may be
issued upon conversion thereof will be registered under the Securities
Act. Neither the Convertible Senior Notes nor the common stock that may
be issued upon conversion thereof may be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements of the Securities Act.
This press release does not constitute an offer to sell any securities
of Hercules Capital, Inc. and is not soliciting an offer to buy such
securities in any state where such offer and sale is not permitted. It
is issued pursuant to Rule 135c under the Securities Act.
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 $6.3 billion to over
360 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 firstname.lastname@example.org,
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% Unsecured Notes due April 2019 (NYSE: HTGZ)
7.00% Unsecured Notes due September 2019 (NYSE: HTGY)
6.25% Unsecured Notes due July 2024 (NYSE: HTGX)
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/20170118006214/en/
Hercules Capital, Inc.
Michael Hara, 650-433-5578 HT-HN
Relations and Corporate Communications
Source: Hercules Capital, Inc.
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