SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
__________________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
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Date
of Report (Date of earliest event reported):
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February
16, 2010
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Hercules
Technology Growth Capital, Inc.
(Exact
name of registrant as specified in its charter)
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Maryland
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814-00702
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74-3113410
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(State
or other jurisdiction
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(Commission
File No.)
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(I.R.S.
Employer
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of
incorporation)
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Identification
No.)
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| 400
Hamilton Ave., Suite 310 |
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| Palo
Alto, CA |
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94301 |
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and Address of principal executive offices) |
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(Zip
Code) |
Registrant's
telephone number, including area code: (650) 289-3060
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Not Applicable
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(Former
name or address, if changed since last report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01 Entry into a Material Definitive
Agreement
The
Information set forth in Item 2.03 of this form 8-K is incorporated herein by
reference.
Item
2.03 Creation of a Direct Financial Obligation or
an Obligation under an Off-Balance Sheet Arrangement of a
Registrant
On
February 10, 2010, Hercules Technology Growth Capital, Inc. (the “Company”)
entered into a one-year revolving secured credit facility with total commitments
of $20 million, with Union Bank, N.A., as a lender and as agent. The
revolving credit facility will expire on May 1, 2011.
Borrowings
under the credit facility will generally bear interest at a rate per annum equal
to LIBOR plus 2.25% with a floor of 4.00%. The credit facility
requires the payment of a non-use fee of 0.25% annually, and has an advance rate
equal to 50% of eligible loans placed in the collateral pool. The credit
facility generally requires payment of interest on a monthly basis. All
outstanding principal is due upon maturity. The Company has various financial
and operating covenants required by the credit facility. These covenants require
the Company to maintain certain financial ratios and a minimum tangible net
worth. The credit facility provides for customary events of default, including,
but not limited to, payment defaults, breech of representations or covenants,
bankruptcy events and change of control.
The
foregoing description of the revolving credit facility does not purport to be
complete and is qualified in its entirety by reference to the full text of the
loan and security agreement attached hereto as Exhibit
10.1.
Item
9.01 Financial Statements and Exhibits
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(d)
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Exhibits
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10.1
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Loan
and Security Agreement, dated February 10,
2010
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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HERCULES
TECHNOLOGY GROWTH CAPITAL, INC.
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February
16, 2010
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/s/
Scott Harvey
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Scott
Harvey
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Chief
Legal Officer
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