Hercules' Leading Originations Platform Continues to Finance Some
of the Most Promising Innovative and Disruptive Venture-Backed
Companies in the Market
Hercules Congratulates Cerecor Inc. on Its Initial Public Offering
Hercules Congratulates nContact, Inc. on Its Completed Acquisition
by AtriCure, Inc. (October 2015)
Hercules Currently Has Five (5) Portfolio Companies in IPO
PALO ALTO, Calif.--(BUSINESS WIRE)--
Technology Growth Capital, Inc. (NYSE:HTGC) ("Hercules"), the
leading specialty financing provider to innovative venture growth stage
companies backed by leading venture capital firms, is pleased to
announce the latest liquidity events for two (2) of its portfolio
companies: Cerecor Inc. (Nasdaq:CERCU), which recently completed
an initial public offering ("IPO"); and nContact, Inc., which was
Cerecor Inc., a clinical-stage biopharmaceutical company working
to develop innovative drugs that make a difference in the lives of
patients with neurological and psychiatric disorders, raised
approximately $26.0 million by offering approximately 4.0 million shares
of its common stock at $6.50 per share. Hercules initially committed
$8.5 million in venture debt and equity financing to Cerecor in August
2014. Hercules currently holds approximately 119,000 and 22,000 shares,
of common stock and warrants, respectively, in Cerecor, post the effect
of a 28:1 reverse split in September 2015.
nContact, Inc. (formerly known as nContact Surgical, Inc.), a
privately held developer of innovative cardiac ablation solutions for
cardiac arrhythmias, was acquired by AtriCure, Inc. (Nasdaq:ATRC), a
leading innovator in treatments for atrial fibrillation and left atrial
appendage management, for approximately $99.0 million in common stock
and cash, subject to closing adjustments. Hercules initially committed
$20.0 million in venture debt financing to nContact in November 2014.
Hercules currently holds approximately 201,000 shares, of preferred
warrants, in nContact, as of June 30, 2015.
As of October 19, 2015, Hercules currently has five (5) additional
portfolio companies that have either publicly or confidentially filed
Form S-1 Registration Statements with the Securities and Exchange
Commission in contemplation of a potential IPO.
Four (4) companies filed confidentially under the JOBS Act
There can be no assurances that these companies will complete their IPOs
in a timely manner or at all.
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
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 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%
Notes due April 2019, 7.00% Notes due September 2019, and 6.25% Notes
due July 2024, which trade on the NYSE under the symbols "HTGZ," "HTGY,"
and "HTGX," respectively.
The information disclosed in this 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 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 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/20151020005542/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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