PALO ALTO, Calif.--(BUSINESS WIRE)--
Technology Growth Capital, Inc. (NYSE:HTGC)("Hercules" or the
"Company"), the leading specialty financing provider to innovative
venture growth stage companies backed by leading venture capital firms,
today announced it intends to redeem $40.0 million (face value) of the
$85.9 million in issued and outstanding aggregate principal amount of
the Company's 7.00% Senior Unsecured Notes due September 2019 (CUSIP No.
427096870) (the "Notes"), which were issued pursuant to the indenture
(the "Base Indenture") dated as of March 6, 2012, between the Company
and U.S. National Bank Association, as trustee, as supplemented by the
second supplemental indenture dated as of September 24, 2012 (together
with the Base Indenture, the "Indenture"). The partial redemption of the
Notes will result in interest expense savings if the Notes were
otherwise left outstanding through maturity, but will also accelerate
the amortization of certain underwriting fees and other debt issuance
costs resulting in an increase in related expenses in the period the
Notes are redeemed. Hercules currently intends to make additional
redemptions on the Notes throughout calendar year 2016, depending on its
anticipated liquidity position. The Company will provide notice for, and
complete all, redemptions in compliance with the terms of the Indenture.
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) is the leading
specialty finance company focused on providing senior secured venture
growth loans to high-growth, innovative venture capital-backed companies
in the technology, biotechnology, life sciences, healthcare, and energy
& renewable technology industries. Since inception (December 2003),
Hercules has committed more than $5.5 billion to over 325 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 email@example.com,
or call 650.289.3060.
Hercules' common stock trades on the New York Stock Exchange under the
ticker symbol "HTGC."
In addition to the Notes which trade on the NYSE under the symbol
"HTGY", Hercules has two outstanding bond issuances of 7.00% Senior
Notes due April 2019 and 6.25% Notes due July 2024, which trade on the
NYSE under the symbols "HTGZ," and "HTGX," respectively.
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
Securities and Exchange Commission 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
Securities and Exchange Commission. 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20151104006510/en/
Hercules Technology Growth Capital, Inc.
Michael Hara, 650-433-5578
Investor Relations and Corporate Communications
Source: Hercules Technology Growth Capital, Inc.
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