PALO ALTO, Calif.--(BUSINESS WIRE)--
Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC) ("The Company"),
the leading specialty finance company devoted to addressing the capital
needs of venture capital and private equity-backed companies in the
technology, clean technology, and life science industries at all stages
of development, announced the final closing of its public offering of
common stock. The Company originally offered to sell 5.75 million shares
of the Company's common stock, which was later increased to 6.25 million
shares in response to investor demand.
In connection with the closing, the underwriters fully exercised their
option to purchase an additional 937,500 shares of the Company's common
stock. With the exercise of the over-allotment option, a total of
7,187,500 shares of the Company's common stock were sold in the
offering, raising approximately $71.9 million of gross proceeds. This
public offering of its common stock is the first the Company has
completed since June 2007.
The Company expects to use the net proceeds from the offering to fund
additional portfolio growth which may include funding new investments in
debt and equity securities, the potential acquisition of an investment
portfolio, as well as funding the remaining $12.5 million of committed
capital under the second SBA license, and for other general corporate
RBC Capital Markets, LLC, JMP Securities LLC and Stifel Nicolaus Weisel
served as joint book-running managers of this offering and BB&T Capital
Markets, a division of Scott & Stringfellow, LLC, Janney Montgomery
Scott LLC, and Macquarie Capital (USA) Inc. acted as co-managers.
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty
finance firm providing customized loans to public and private companies
in the technology, clean technology, and life science industries, at all
stages of development.
Companies interested in learning more about financing opportunities
should contact firstname.lastname@example.org, or call
The statements contained in this release that are not purely historical
are forward-looking statements. 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 and other factors we identify from
time to time in our filings with the Securities and Exchange Commission.
Although we believe that the assumptions on which these forward-looking
statements 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.
Hercules Technology Growth Capital, Inc.
Main, 650-289-3060 HT-HN
Source: Hercules Technology Growth Capital, Inc.
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