PALO ALTO, Calif.--(BUSINESS WIRE)--
Capital, Inc. (NYSE:HTGC) ("Hercules" or the "Company"), the leading
specialty finance company to innovative, venture growth, pre-IPO and M&A
stage companies backed by leading venture capital firms, today announced
its intent to redeem 100% or approximately $110.4 million (face value)
in remaining issued and outstanding aggregate principal amount of the
Company's 7.00% Notes due 2019 (CUSIP No. 427096888 and 427096870) (the
"Notes"), which were issued pursuant to the 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 (the "Indenture"). The Notes trade on the New York
Stock Exchange under the ticker symbols "HTGY" and "HTGZ." The
redemption price will be par $25.00 per Note plus accrued and unpaid
interest through, but excluding, the redemption date, February 24, 2017.
The Notes should be presented and surrendered by mail or by hand at the
office of the Paying Agent, U.S. Bank National Association, Corporate
Trust Services, 111 Fillmore Avenue E, St. Paul, MN 55107. The
settlement of the redemption is expected to occur on February 24, 2017.
Questions related to the notice of redemption and related materials
should be directed to U.S. Bank via telephone at 1-800-934-6802.
The full retirement of the $110.4 million 2019 Notes, along with the
closed 4.375% Convertible Senior Notes due 2022 on January 25, 2017,
will save the Company approximately $2.8 million in annual interest
expense (on a cost of funds basis), excluding the one-time acceleration
expense of $1.5 million associated with the redemption of the 2019
Notes. The additional net of approximately $115.0 million will be used
to fund investments in debt and equity securities in accordance with its
investment objective and for working capital and other general corporate
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 (NYSE)
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/20170125006185/en/
Hercules Capital, Inc.
Michael Hara, 650-433-5578 HT-HN
Relations and Corporate Communications
Source: Hercules Capital, Inc.
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