Hercules Announces the Continued Convertibility of its 6.00% Convertible Senior Notes Due 2016 through December 31, 2014

Approximately $34.5 million of the existing notes have exercised conversion

PALO ALTO, Calif.--(BUSINESS WIRE)-- Hercules 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 info@htgc.com, or call 650.289.3060.

Hercules Technology Growth Capital, Inc.
Main, 650-289-3060 HT-HN
info@htgc.com
or
Market Street Partners
Ed Keaney, 415-445-3238
ekeaney@marketstreetpartners.com

Source: Hercules Technology Growth Capital, Inc

Released October 16, 2014