Approximately $34.5 million of the existing notes have exercised
PALO ALTO, Calif.--(BUSINESS WIRE)--
Technology Growth Capital, Inc. (NYSE:HTGC), the leading specialty
finance company focused on providing senior secured loans to venture
capital-backed companies in technology-related markets, including
technology, biotechnology, life science, and energy & renewable
technology industries, at all stages of development, announced today
that holders of its 6.00% Convertible Senior Notes due 2016 have been
notified that the stock trading price conversion requirement was met
during the three months ended September 30, 2014.
The trading price requirement is set forth in the Indenture, dated April
15, 2011, between Hercules and U.S. Bank N.A., as trustee. Upon meeting
the stock trading price conversion requirement during the three months
ended September 30, 2014, the Convertible Senior Notes continued to be
convertible on October 1, 2014 and continue to be convertible through
December 31, 2014. The current conversion price of the Convertible
Senior Notes is approximately $11.42 per share of common stock, in each
case subject to adjustment in certain circumstances.
The trustee for the 6.00% Convertible Senior Notes due 2016 has informed
Hercules that, to date, holders of approximately $34,495,000 in
principal amount of the notes have exercised their conversion rights,
which conversion will be settled pursuant to the terms of the indenture
whereby Hercules has elected to settle the outstanding principal amount
of the tendered notes in cash, and Hercules will issue shares of its
common stock for the remainder of the settlement amount.
Remaining holders of outstanding Convertible Senior Notes interested in
converting should follow the conversion procedures set forth in the
indenture, which include, as applicable, providing notices and following
the procedures required by the depository and the trustee.
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) ("Hercules") is
the leading specialty finance company focused on providing senior
secured loans to venture capital-backed companies in technology-related
markets, including technology, biotechnology, life science, and energy &
renewable technology industries, at all stages of development. Since
inception (December 2003), Hercules has committed more than $4.4 billion
to over 290 companies and is the lender of choice for entrepreneurs and
venture capital firms seeking growth capital financing.
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%
Senior Notes due April 2019, 7.00% Senior Notes due September 2019, and
6.25% Notes due July 2024, which trade on the NYSE under the symbols
"HTGZ," "HTGY," and "HTGX," respectively.
Companies interested in learning more about financing opportunities
should contact firstname.lastname@example.org, or call
Hercules Technology Growth Capital, Inc.
Main, 650-289-3060 HT-HN
Ed Keaney, 415-445-3238
Source: Hercules Technology Growth Capital, Inc
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