UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
|
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For The Quarterly Period Ended March 31, 2021
OR
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number: 814-00702
HERCULES CAPITAL, INC.
(Exact Name of Registrant as Specified in its Charter)
|
Maryland |
|
74-3113410 |
|
(State or Jurisdiction of Incorporation or Organization) |
|
(IRS Employer Identification Number) |
|
400 Hamilton Ave., Suite 310 Palo Alto, California (Address of Principal Executive Offices) |
|
94301 (Zip Code) |
|
|
(650) 289-3060
(Registrant’s Telephone Number, Including Area Code)
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
|
Common Shares, par value $0.001 per share |
HTGC |
New York Stock Exchange |
|
5.25% Notes due 2025 |
HCXZ |
New York Stock Exchange |
|
6.25% Notes due 2033 |
HCXY |
New York Stock Exchange |
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☐ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
|
Large accelerated filer |
|
☒ |
|
Accelerated filer |
|
☐ |
|
Non-accelerated filer |
|
☐ |
|
Smaller reporting company |
|
☐ |
|
Emerging growth company |
|
☐ |
|
|
|
|
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with a new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. |
|
☐ |
||||
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
On April 22, 2021, there were 115,743,245 shares outstanding of the Registrant’s common stock, $0.001 par value.
HERCULES CAPITAL, INC.
FORM 10-Q TABLE OF CONTENTS
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3 |
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Item 1. |
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3 |
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3 |
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Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020 (unaudited) |
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5 |
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6 |
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Consolidated Statements of Cash Flows for the three months ended March 31, 2021 and 2020 (unaudited) |
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7 |
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Consolidated Schedule of Investments as of March 31, 2021 (unaudited) |
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8 |
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Consolidated Schedule of Investments as of December 31, 2020 |
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19 |
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30 |
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Item 2. |
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Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|
64 |
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Item 3. |
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81 |
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Item 4. |
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82 |
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83 |
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Item 1. |
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83 |
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Item 1A. |
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83 |
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Item 2. |
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85 |
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Item 3. |
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85 |
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Item 4. |
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85 |
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Item 5. |
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85 |
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Item 6. |
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86 |
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89 |
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2
In this Quarterly Report, the “Company,” “Hercules,” “we,” “us” and “our” refer to Hercules Capital, Inc. and its wholly owned subsidiaries and its affiliated securitization trusts, unless the context otherwise requires.
HERCULES CAPITAL, INC.
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(in thousands, except per share data)
|
|
|
March 31, 2021 |
|
|
December 31, 2020 |
|
||
|
|
|
(unaudited) |
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
Investments, at fair value: |
|
|
|
|
|
|
|
|
|
Non-control/Non-affiliate investments (cost of $2,253,503 and $2,175,651, respectively) |
|
$ |
2,385,998 |
|
|
$ |
2,288,338 |
|
|
Control investments (cost of $74,849 and $65,257, respectively) |
|
|
68,693 |
|
|
|
57,400 |
|
|
Affiliate investments (cost of $75,450 and $74,450, respectively) |
|
|
9,664 |
|
|
|
8,340 |
|
|
Total investments, at fair value (cost of $2,403,802 and $2,315,358, respectively) |
|
|
2,464,355 |
|
|
|
2,354,078 |
|
|
Cash and cash equivalents |
|
|
74,987 |
|
|
|
198,282 |
|
|
Restricted cash |
|
|
11,829 |
|
|
|
39,340 |
|
|
Interest receivable |
|
|
20,597 |
|
|
|
19,077 |
|
|
Right of use asset |
|
|
8,666 |
|
|
|
9,278 |
|
|
Other assets |
|
|
3,417 |
|
|
|
3,942 |
|
|
Total assets |
|
$ |
2,583,851 |
|
|
$ |
2,623,997 |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
Debt (net of debt issuance costs - Note 5) |
|
$ |
1,231,298 |
|
|
$ |
1,286,638 |
|
|
Accounts payable and accrued liabilities |
|
|
28,300 |
|
|
|
36,343 |
|
|
Operating lease liability |
|
|
8,859 |
|
|
|
9,312 |
|
|
Total liabilities |
|
$ |
1,268,457 |
|
|
$ |
1,332,293 |
|
|
|
|
|
|
|
|
|
|
|
|
Net assets consist of: |
|
|
|
|
|
|
|
|
|
Common stock, par value |
|
|
116 |
|
|
|
115 |
|
|
Capital in excess of par value |
|
|
1,160,519 |
|
|
|
1,158,198 |
|
|
Total distributable earnings |
|
|
154,759 |
|
|
|
133,391 |
|
|
Total net assets |
|
$ |
1,315,394 |
|
|
$ |
1,291,704 |
|
|
Total liabilities and net assets |
|
$ |
2,583,851 |
|
|
$ |
2,623,997 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares of common stock outstanding ($0.001 par value and 200,000,000 authorized) |
|
|
115,768 |
|
|
|
114,726 |
|
|
Net asset value per share |
|
$ |
11.36 |
|
|
$ |
11.26 |
|
See notes to consolidated financial statements
3
The following table presents the assets and liabilities of our consolidated securitization trusts for the 2027 Asset-Backed Notes and the 2028 Asset-Backed Notes (see “Note 5 - Debt”), which are variable interest entities, or VIEs. The assets of our securitization VIEs can only be used to settle obligations of our consolidated securitization VIEs, these liabilities are only the obligations of our consolidated securitization VIEs, and the creditors (or beneficial interest holders) do not have recourse to our general credit. These assets and liabilities are included in the Consolidated Statements of Assets and Liabilities above.
|
|
|
March 31, 2021 |
|
|
December 31, 2020 |
|
||
|
(Dollars in thousands) |
|
(unaudited) |
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
Restricted Cash |
|
$ |
11,829 |
|
|
$ |
39,340 |
|
|
2027 Asset-Backed Notes, investments in securities, at value (cost of $233,864 and $267,657, respectively) |
|
|
235,476 |
|
|
|
269,551 |
|
|
2028 Asset-Backed Notes, investments in securities, at value (cost of $340,592 and $355,236, respectively) |
|
|
340,620 |
|
|
|
356,097 |
|
|
Total assets |
|
$ |
587,925 |
|
|
$ |
664,988 |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
2027 Asset-Backed Notes, net (principal of $131,545 and $180,988, respectively) (1) |
|
$ |
130,016 |
|
|
$ |
178,812 |
|
|
2028 Asset-Backed Notes, net (principal of $221,434 and $250,000, respectively) (1) |
|
|
219,413 |
|
|
|
247,647 |
|
|
Total liabilities |
|
$ |
349,429 |
|
|
$ |
426,459 |
|
|
(1) |
The Company’s 2027 Asset-Backed Notes and the 2028 Asset-Backed Notes are presented net of the associated debt issuance costs. See “Note 5 – Debt”. |
See notes to consolidated financial statements
4
HERCULES CAPITAL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(in thousands, except per share data)
|
|
|
Three Months Ended March 31, |
|
|||||
|
|
|
2021 |
|
|
2020 |
|
||
|
Investment income: |
|
|
|
|
|
|
|
|
|
Interest income |
|
|
|
|
|
|
|
|
|
Non-control/Non-affiliate investments |
|
$ |
62,982 |
|
|
$ |
65,338 |
|
|
Control investments |
|
|
799 |
|
|
|
646 |
|
|
Affiliate investments |
|
|
1 |
|
|
|
220 |
|
|
Total interest income |
|
|
63,782 |
|
|
|
66,204 |
|
|
Fee income |
|
|
|
|
|
|
|
|
|
Commitment, facility and loan fee income |
|
|
|
|
|
|
|
|
|
Non-control/Non-affiliate investments |
|
|
3,403 |
|
|
|
4,196 |
|
|
Control investments |
|
|
8 |
|
|
|
5 |
|
|
Affiliate investments |
|
|
— |
|
|
|
— |
|
|
Total commitment, facility and loan fee income |
|
|
3,411 |
|
|
|
4,201 |
|
|
One-time fee income |
|
|
|
|
|
|
|
|
|
Non-control/Non-affiliate investments |
|
|
1,566 |
|
|
|
3,214 |
|
|
Total one-time fee income |
|
|
1,566 |
|
|
|
3,214 |
|
|
Total fee income |
|
|
4,977 |
|
|
|
7,415 |
|
|
Total investment income |
|
|
68,759 |
|
|
|
73,619 |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Interest |
|
|
14,750 |
|
|
|
14,532 |
|
|
Loan fees |
|
|
2,800 |
|
|
|
1,794 |
|
|
General and administrative |
|
|
|
|
|
|
|
|
|
Legal expenses |
|
|
428 |
|
|
|
899 |
|
|
Tax expenses |
|
|
1,438 |
|
|
|
1,135 |
|
|
Other expenses |
|
|
3,168 |
|
|
|
4,025 |
|
|
Total general and administrative |
|
|
5,034 |
|
|
|
6,059 |
|
|
Employee compensation |
|
|
|
|
|
|
|
|
|
Compensation and benefits |
|
|
9,804 |
|
|
|
8,214 |
|
|
Stock-based compensation |
|
|
2,744 |
|
|
|
2,440 |
|
|
Total employee compensation |
|
|
12,548 |
|
|
|
10,654 |
|
|
Total gross operating expenses |
|
|
35,132 |
|
|
|
33,039 |
|
|
Expenses allocated to the Adviser Subsidiary |
|
|
(933 |
) |
|
|
— |
|
|
Total net operating expenses |
|
|
34,199 |
|
|
|
33,039 |
|
|
Net investment income |
|
|
34,560 |
|
|
|
40,580 |
|
|
Net realized and change in unrealized appreciation (depreciation) on investments: |
|
|
|
|
|
|
|
|
|
Net realized gain (loss) on investments |
|
|
|
|
|
|
|
|
|
Non-control/Non-affiliate investments |
|
|
7,770 |
|
|
|
6,967 |
|
|
Control investments |
|
|
— |
|
|
|
— |
|
|
Affiliate investments |
|
|
— |
|
|
|
— |
|
|
Total net realized gain (loss) on investments |
|
|
7,770 |
|
|
|
6,967 |
|
|
Net change in unrealized appreciation (depreciation) on investments |
|
|
|
|
|
|
|
|
|
Non-control/Non-affiliate investments |
|
|
18,022 |
|
|
|
(58,430 |
) |
|
Control investments |
|
|
1,702 |
|
|
|
(7,851 |
) |
|
Affiliate investments |
|
|
2,109 |
|
|
|
(9,989 |
) |
|
Total net change in unrealized appreciation (depreciation) on investments |
|
|
21,833 |
|
|
|
(76,270 |
) |
|
Total net realized and change in unrealized appreciation (depreciation) on investments: |
|
|
29,603 |
|
|
|
(69,303 |
) |
|
Net increase (decrease) in net assets resulting from operations |
|
$ |
64,163 |
|
|
$ |
(28,723 |
) |
|
|
|
|
|
|
|
|
|
|
|
Net investment income before investment gains and losses per common share: |
|
|||||||
|
Basic |
|
$ |
0.30 |
|
|
$ |
0.37 |
|
|
Change in net assets resulting from operations per common share: |
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.56 |
|
|
$ |
(0.27 |
) |
|
Diluted |
|
$ |
0.55 |
|
|
$ |
(0.27 |
) |
|
Weighted average shares outstanding |
|
|
|
|
|
|
|
|
|
Basic |
|
|
114,304 |
|
|
|
108,955 |
|
|
Diluted |
|
|
114,803 |
|
|
|
108,955 |
|
|
Distributions paid per common share: |
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.37 |
|
|
$ |
0.40 |
|
See notes to consolidated financial statements
5
HERCULES CAPITAL, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
(unaudited)
(dollars and shares in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital in |
|
|
Distributable |
|
|
|
|
|
||
|
|
Common Stock |
|
|
excess |
|
|
Earnings |
|
|
Net |
|
||||||||
|
For the Three Months Ended March 31, 2021 |
Shares |
|
|
Par Value |
|
|
of par value |
|
|
(loss) |
|
|
Assets |
|
|||||
|
Balance as of December 31, 2020 |
|
114,726 |
|
|
$ |
115 |
|
|
$ |
1,158,198 |
|
|
$ |
133,391 |
|
|
$ |
1,291,704 |
|
|
Net increase (decrease) in net assets resulting from operations |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
64,163 |
|
|
|
64,163 |
|
|
Public offering, net of offering expenses |
|
— |
|
|
|
— |
|
|
|
(195 |
) |
|
|
— |
|
|
|
(195 |
) |
|
Issuance of common stock due to stock option exercises |
|
222 |
|
|
|
— |
|
|
|
2,745 |
|
|
|
— |
|
|
|
2,745 |
|
|
Retired shares from net issuance |
|
(50 |
) |
|
|
— |
|
|
|
(603 |
) |
|
|
— |
|
|
|
(603 |
) |
|
Issuance of common stock under restricted stock plan |
|
924 |
|
|
|
1 |
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
Retired shares for restricted stock vesting |
|
(121 |
) |
|
|
— |
|
|
|
(3,181 |
) |
|
|
— |
|
|
|
(3,181 |
) |
|
Distributions reinvested in common stock |
|
67 |
|
|
|
— |
|
|
|
1,040 |
|
|
|
— |
|
|
|
1,040 |
|
|
Distributions |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(42,795 |
) |
|
|
(42,795 |
) |
|
Stock-based compensation (1) |
|
— |
|
|
|
— |
|
|
|
2,516 |
|
|
|
— |
|
|
|
2,516 |
|
|
Balance as of March 31, 2021 |
|
115,768 |
|
|
$ |
116 |
|
|
$ |
1,160,519 |
|
|
$ |
154,759 |
|
|
$ |
1,315,394 |
|
|
(1) |
Stock-based compensation includes $25 of restricted stock and option expense related to director compensation for the three months ended March 31, 2021. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital in |
|
|
Distributable |
|
|
|
|
|
||
|
|
|
Common Stock |
|
|
excess |
|
|
Earnings |
|
|
Net |
|
||||||||
|
For the Three Months Ended March 31, 2020 |
|
Shares |
|
|
Par Value |
|
|
of par value |
|
|
(loss) |
|
|
Assets |
|
|||||
|
Balance as of December 31, 2019 |
|
|
107,364 |
|
|
$ |
108 |
|
|
$ |
1,145,106 |
|
|
$ |
(12,165 |
) |
|
$ |
1,133,049 |
|
|
Net increase (decrease) in net assets resulting from operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(28,723 |
) |
|
|
(28,723 |
) |
|
Public offering, net of offering expenses |
|
|
2,441 |
|
|
|
2 |
|
|
|
34,960 |
|
|
|
— |
|
|
|
34,962 |
|
|
Issuance of common stock due to stock option exercises |
|
|
29 |
|
|
|
— |
|
|
|
362 |
|
|
|
— |
|
|
|
362 |
|
|
Retired shares from net issuance |
|
|
(24 |
) |
|
|
— |
|
|
|
(376 |
) |
|
|
— |
|
|
|
(376 |
) |
|
Issuance of common stock under restricted stock plan |
|
|
749 |
|
|
|
1 |
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
Retired shares for restricted stock vesting |
|
|
(17 |
) |
|
|
— |
|
|
|
(880 |
) |
|
|
— |
|
|
|
(880 |
) |
|
Distributions reinvested in common stock |
|
|
59 |
|
|
|
— |
|
|
|
827 |
|
|
|
— |
|
|
|
827 |
|
|
Distributions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(44,223 |
) |
|
|
(44,223 |
) |
|
Stock-based compensation (1) |
|
|
— |
|
|
|
— |
|
|
|
2,082 |
|
|
|
— |
|
|
|
2,082 |
|
|
Balance as of March 31, 2020 |
|
|
110,601 |
|
|
$ |
111 |
|
|
$ |
1,182,080 |
|
|
$ |
(85,111 |
) |
|
$ |
1,097,080 |
|
|
(1) |
Stock-based compensation includes $21 of restricted stock and option expense related to director compensation for the three months ended March 31, 2020. |
See notes to consolidated financial statements
6
HERCULES CAPITAL, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(dollars in thousands)
|
|
For the Three Months Ended March 31, |
|
|||||
|
|
2021 |
|
|
2020 |
|
||
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets resulting from operations |
$ |
64,163 |
|
|
$ |
(28,723 |
) |
|
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
|
|
Purchases of investments |
|
(355,333 |
) |
|
|
(233,612 |
) |
|
Purchases assigned to External Funds |
|
48,353 |
|
|
|
— |
|
|
Principal and fee payments received on investments |
|
209,747 |
|
|
|
167,511 |
|
|
Proceeds from the sale of investments |
|
12,973 |
|
|
|
17,076 |
|
|
Net unrealized (appreciation) depreciation on investments |
|
(21,833 |
) |
|
|
76,270 |
|
|
Net realized (gain) loss on investments |
|
(7,770 |
) |
|
|
(6,967 |
) |
|
Accretion of paid-in-kind principal |
|
(2,475 |
) |
|
|
(2,130 |
) |
|
Accretion of loan discounts |
|
(1,176 |
) |
|
|
(1,147 |
) |
|
Accretion of loan discount on convertible notes |
|
168 |
|
|
|
168 |
|
|
Accretion of loan exit fees |
|
(5,744 |
) |
|
|
(6,265 |
) |
|
Change in deferred loan origination revenue |
|
13,414 |
|
|
|
1,319 |
|
|
Unearned fees related to unfunded commitments |
|
(1,505 |
) |
|
|
(463 |
) |
|
Amortization of debt fees and issuance costs |
|
2,156 |
|
|
|
1,332 |
|
|
Depreciation |
|
94 |
|
|
|
126 |
|
|
Stock-based compensation and amortization of restricted stock grants (1) |
|
2,516 |
|
|
|
2,082 |
|
|
Change in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Interest receivable |
|
(1,520 |
) |
|
|
1,070 |
|
|
Other assets |
|
1,849 |
|
|
|
(4,100 |
) |
|
Accounts payable |
|
— |
|
|
|
(16 |
) |
|
Accrued liabilities |
|
(8,496 |
) |
|
|
(8,233 |
) |
|
Net cash used in operating activities |
|
(50,419 |
) |
|
|
(24,702 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Purchases of capital equipment |
|
(12 |
) |
|
|
(29 |
) |
|
Net cash used in investing activities |
|
(12 |
) |
|
|
(29 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Issuance of common stock, net |
|
(195 |
) |
|
|
34,962 |
|
|
Retirement of employee shares |
|
(1,039 |
) |
|
|
(895 |
) |
|
Distributions paid |
|
(41,755 |
) |
|
|
(43,396 |
) |
|
Issuance of debt |
|
342,218 |
|
|
|
292,026 |
|
|
Repayments of debt |
|
(397,727 |
) |
|
|
(313,569 |
) |
|
Debt issuance costs |
|
(1,842 |
) |
|
|
(618 |
) |
|
Fees paid for credit facilities and debentures |
|
(35 |
) |
|
|
(2,433 |
) |
|
Net cash used in financing activities |
|
(100,375 |
) |
|
|
(33,923 |
) |
|
Net increase (decrease) in cash, cash equivalents, and restricted cash |
|
(150,806 |
) |
|
|
(58,654 |
) |
|
Cash, cash equivalents, and restricted cash at beginning of period |
|
237,622 |
|
|
|
114,996 |
|
|
Cash, cash equivalents, and restricted cash at end of period |
$ |
86,816 |
|
|
$ |
56,342 |
|
|
|
|
|
|
|
|
|
|
|
Supplemental disclosures of cash flow information and non-cash investing and financing activities: |
|
||||||
|
Interest paid |
$ |
17,359 |
|
|
$ |
17,491 |
|
|
Income tax, including excise tax, paid |
$ |
3,488 |
|
|
$ |
2,309 |
|
|
Distributions reinvested |
$ |
1,040 |
|
|
$ |
827 |
|
|
(1) |
Stock-based compensation includes $25 and $21 of restricted stock and option expense related to director compensation for the three months ended March 31, 2021 and 2020, respectively. |
The following table presents a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statements of Assets and Liabilities that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows:
|
|
For the Three Months Ended March 31, |
|
|||||
|
(Dollars in thousands) |
2021 |
|
|
2020 |
|
||
|
Cash and cash equivalents |
$ |
74,987 |
|
|
$ |
34,282 |
|
|
Restricted cash |
|
11,829 |
|
|
|
22,060 |
|
|
Total cash, cash equivalents, and restricted cash presented in the Consolidated Statements of Cash Flows |
$ |
86,816 |
|
|
$ |
56,342 |
|
See “Note 2 – Summary of Significant Accounting Policies” for a description of restricted cash and cash equivalents.
See notes to consolidated financial statements
7
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
|||
|
Debt Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cytracom Holdings LLC (11)(17)(18) |
Communications & Networking |
Senior Secured |
February 2025 |
Interest rate 3-month LIBOR + 9.25% or Floor rate of 10.25% |
$ |
7,000 |
|
$ |
6,828 |
|
$ |
7,000 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
6,828 |
|
|
7,000 |
|
|
|
Subtotal: Communications & Networking (0.53%)* |
|
|
|
|
|
|
6,828 |
|
|
7,000 |
|
||
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greater than 5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gibraltar Business Capital, LLC (7) |
Diversified Financial Services |
Unsecured |
September 2026 |
Interest rate FIXED 14.50% |
$ |
15,000 |
|
|
14,628 |
|
|
14,112 |
|
|
|
Diversified Financial Services |
Unsecured |
September 2026 |
Interest rate FIXED 11.50% |
$ |
10,000 |
|
|
9,802 |
|
|
9,802 |
|
|
Total Gibraltar Business Capital, LLC |
|
|
|
|
$ |
25,000 |
|
|
24,430 |
|
|
23,914 |
|
|
Subtotal: Greater than 5 Years Maturity |
|
|
|
|
|
|
|
24,430 |
|
|
23,914 |
|
|
|
Subtotal: Diversified Financial Services (1.82%)* |
|
|
|
|
|
|
24,430 |
|
|
23,914 |
|
||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Antares Pharma Inc. (10)(11)(15) |
Drug Delivery |
Senior Secured |
July 2022 |
Interest rate PRIME + 4.50% or Floor rate of 8.50%, 4.14% Exit Fee |
$ |
40,000 |
|
|
41,229 |
|
|
41,522 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
41,229 |
|
|
41,522 |
|
|
|
Subtotal: Drug Delivery (3.16%)* |
|
|
|
|
|
|
41,229 |
|
|
41,522 |
|
||
|
Drug Discovery & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acacia Pharma Inc. (5)(10)(11) |
Drug Discovery & Development |
Senior Secured |
January 2022 |
Interest rate PRIME + 4.50% or Floor rate of 9.25%, 3.95% Exit Fee |
$ |
4,245 |
|
|
4,597 |
|
|
4,597 |
|
|
Mesoblast (5)(10)(11)(13) |
Drug Discovery & Development |
Senior Secured |
March 2022 |
Interest rate PRIME + 4.95% or Floor rate of 9.70%, 9.30% Exit Fee |
$ |
50,000 |
|
|
53,541 |
|
|
53,541 |
|
|
Petros Pharmaceuticals, Inc. (p.k.a. Metuchen Pharmaceuticals LLC) |
Drug Discovery & Development |
Senior Secured |
December 2021 |
Interest rate PRIME + 7.25% or Floor rate of 11.50%, 3.05% Exit Fee |
$ |
5,061 |
|
|
5,054 |
|
|
5,054 |
|
|
Stealth Bio Therapeutics Corp. (10)(11) |
Drug Discovery & Development |
Senior Secured |
July 2021 |
Interest rate PRIME + 5.50% or Floor rate of 9.50%, 7.69% Exit Fee |
$ |
7,245 |
|
|
7,416 |
|
|
7,416 |
|
|
TG Therapeutics, Inc. (10)(13) |
Drug Discovery & Development |
Senior Secured |
March 2022 |
Interest rate PRIME + 4.75% or Floor rate of 10.25%, 3.25% Exit Fee |
$ |
30,000 |
|
|
30,609 |
|
|
30,609 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
101,217 |
|
|
101,217 |
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Albireo Pharma, Inc. (10)(11)(17) |
Drug Discovery & Development |
Senior Secured |
July 2024 |
Interest rate PRIME + 5.90% or Floor rate of 9.15%, 6.95% Exit Fee |
$ |
10,000 |
|
|
10,054 |
|
|
10,291 |
|
|
Aldeyra Therapeutics, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
October 2023 |
Interest rate PRIME + 3.10% or Floor rate of 9.10%, 6.95% Exit Fee |
$ |
15,000 |
|
|
15,450 |
|
|
15,852 |
|
|
Applied Genetic Technologies Corporation (11) |
Drug Discovery & Development |
Senior Secured |
December 2023 |
Interest rate PRIME + 6.50% or Floor rate of 9.75%, 6.95% Exit Fee |
$ |
10,000 |
|
|
10,100 |
|
|
10,325 |
|
|
Aveo Pharmaceuticals, Inc. (11)(15) |
Drug Discovery & Development |
Senior Secured |
September 2023 |
Interest rate PRIME + 6.40% or Floor rate of 9.65%, 6.95% Exit Fee |
$ |
35,000 |
|
|
35,056 |
|
|
35,119 |
|
|
Axsome Therapeutics, Inc. (10)(17) |
Drug Discovery & Development |
Senior Secured |
October 2025 |
Interest rate PRIME + 5.90% or Floor rate of 9.15%, 4.85% Exit Fee |
$ |
50,000 |
|
|
49,216 |
|
|
51,355 |
|
|
Bicycle Therapeutics PLC (5)(10)(11) |
Drug Discovery & Development |
Senior Secured |
October 2024 |
Interest rate PRIME + 5.60% or Floor rate of 8.85%, 5.00% Exit Fee |
$ |
24,000 |
|
|
24,003 |
|
|
23,907 |
|
|
BridgeBio Pharma LLC (12)(13)(16) |
Drug Discovery & Development |
Senior Secured |
November 2023 |
Interest rate PRIME + 3.85% or Floor rate of 8.75%, 6.35% Exit Fee |
$ |
35,000 |
|
|
36,271 |
|
|
37,408 |
|
|
|
Drug Discovery & Development |
Senior Secured |
November 2023 |
Interest rate PRIME + 2.85% or Floor rate of 8.60%, 5.75% Exit Fee |
$ |
20,000 |
|
|
20,603 |
|
|
21,248 |
|
|
|
Drug Discovery & Development |
Senior Secured |
November 2023 |
Interest rate PRIME + 3.10% or Floor rate of 8.85%, 5.75% Exit Fee |
$ |
20,000 |
|
|
20,476 |
|
|
21,107 |
|
|
Total BridgeBio Pharma LLC |
|
|
|
|
$ |
75,000 |
|
|
77,350 |
|
|
79,763 |
|
|
Century Therapeutics (11) |
Drug Discovery & Development |
Senior Secured |
April 2024 |
Interest rate PRIME + 6.30% or Floor rate of 9.55%, 3.95% Exit Fee |
$ |
10,000 |
|
|
9,939 |
|
|
10,328 |
|
|
Chemocentryx, Inc. (10)(11)(15) |
Drug Discovery & Development |
Senior Secured |
December 2022 |
Interest rate PRIME + 3.30% or Floor rate of 8.05%, 6.25% Exit Fee |
$ |
20,000 |
|
|
20,809 |
|
|
21,198 |
|
|
|
Drug Discovery & Development |
Senior Secured |
February 2024 |
Interest rate PRIME + 3.25% or Floor rate of 8.50%, 7.15% Exit Fee |
$ |
5,000 |
|
|
5,068 |
|
|
5,406 |
|
|
Total Chemocentryx, Inc. |
|
|
|
|
$ |
25,000 |
|
|
25,877 |
|
|
26,604 |
|
|
Codiak Biosciences, Inc. (11)(17) |
Drug Discovery & Development |
Senior Secured |
October 2024 |
Interest rate PRIME + 3.75% or Floor rate of 9.00%, 5.50% Exit Fee |
$ |
25,000 |
|
|
25,204 |
|
|
25,213 |
|
|
Dermavant Sciences Ltd. (10)(13) |
Drug Discovery & Development |
Senior Secured |
June 2023 |
Interest rate PRIME + 4.45% or Floor rate of 9.95%, 6.95% Exit Fee |
$ |
20,000 |
|
|
20,717 |
|
|
20,644 |
|
|
Eidos Therapeutics, Inc. (10)(13) |
Drug Discovery & Development |
Senior Secured |
October 2023 |
Interest rate PRIME + 3.25% or Floor rate of 8.50%, 5.95% Exit Fee |
$ |
8,750 |
|
|
8,952 |
|
|
8,952 |
|
|
G1 Therapeutics, Inc. (10)(11) |
Drug Discovery & Development |
Senior Secured |
June 2025 |
Interest rate PRIME + 6.20% or Floor rate of 9.45%, 6.95% Exit Fee |
$ |
26,000 |
|
|
26,096 |
|
|
26,211 |
|
|
Geron Corporation (10)(17) |
Drug Discovery & Development |
Senior Secured |
October 2024 |
Interest rate PRIME + 5.75% or Floor rate of 9.00%, 6.55% Exit Fee |
$ |
16,250 |
|
|
16,245 |
|
|
16,893 |
|
See notes to consolidated financial statements
8
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
|||
|
Humanigen, Inc. (9)(10) |
Drug Discovery & Development |
Senior Secured |
March 2025 |
Interest rate PRIME + 5.50% or Floor rate of 8.75%, 6.75% Exit Fee |
$ |
20,000 |
|
$ |
19,917 |
|
$ |
19,917 |
|
|
Kaleido Biosciences, Inc. (13) |
Drug Discovery & Development |
Senior Secured |
January 2024 |
Interest rate PRIME + 6.10% or Floor rate of 9.35%, 7.55% Exit Fee |
$ |
22,500 |
|
|
23,074 |
|
|
23,476 |
|
|
Nabriva Therapeutics (5)(10) |
Drug Discovery & Development |
Senior Secured |
June 2023 |
Interest rate PRIME + 4.30% or Floor rate of 9.80%, 9.95% Exit Fee |
$ |
5,000 |
|
|
5,326 |
|
|
5,350 |
|
|
Seres Therapeutics, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
November 2023 |
Interest rate PRIME + 4.40% or Floor rate of 9.65%, 4.85% Exit Fee |
$ |
25,000 |
|
|
25,354 |
|
|
26,277 |
|
|
Syndax Pharmaceutics Inc. (13) |
Drug Discovery & Development |
Senior Secured |
September 2023 |
Interest rate PRIME + 5.10% or Floor rate of 9.85%, 4.99% Exit Fee |
$ |
20,000 |
|
|
20,322 |
|
|
20,818 |
|
|
uniQure B.V. (5)(10)(11)(16)(17) |
Drug Discovery & Development |
Senior Secured |
June 2023 |
Interest rate PRIME + 3.35% or Floor rate of 8.85%, 4.95% Exit Fee |
$ |
35,000 |
|
|
35,771 |
|
|
35,830 |
|
|
|
Drug Discovery & Development |
Senior Secured |
June 2023 |
Interest rate PRIME + 5.00% or Floor rate of 8.25%, 4.85% Exit Fee |
$ |
35,000 |
|
|
34,995 |
|
|
34,995 |
|
|
Total uniQure B.V. |
|
|
|
|
$ |
70,000 |
|
|
70,766 |
|
|
70,825 |
|
|
Unity Biotechnology, Inc. (10)(11) |
Drug Discovery & Development |
Senior Secured |
August 2024 |
Interest rate PRIME + 6.10% or Floor rate of 9.35%, 6.25% Exit Fee |
$ |
25,000 |
|
|
25,068 |
|
|
25,866 |
|
|
Valo Health, LLC (p.k.a. Integral Health Holdings, LLC) (11) |
Drug Discovery & Development |
Senior Secured |
May 2024 |
Interest rate PRIME + 6.45% or Floor rate of 9.70%, 3.85% Exit Fee |
$ |
11,500 |
|
|
11,354 |
|
|
11,412 |
|
|
X4 Pharmaceuticals, Inc. (11)(13) |
Drug Discovery & Development |
Senior Secured |
July 2024 |
Interest rate PRIME + 3.75% or Floor rate of 8.75%, 8.80% Exit Fee |
$ |
32,500 |
|
|
33,340 |
|
|
33,800 |
|
|
Yumanity Therapeutics, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
January 2024 |
Interest rate PRIME + 4.00% or Floor rate of 8.75%, 5.92% Exit Fee |
$ |
15,000 |
|
|
15,247 |
|
|
15,583 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
604,027 |
|
|
614,781 |
|
|
|
Subtotal: Drug Discovery & Development (54.43%)* |
|
|
|
|
|
|
705,244 |
|
|
715,998 |
|
||
|
Healthcare Services, Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carbon Health Technologies, Inc. (17)(19) |
Healthcare Services, Other |
Senior Secured |
March 2025 |
Interest rate PRIME + 5.60% or Floor rate of 8.85%, 3.95% Exit Fee |
$ |
11,250 |
|
|
11,162 |
|
|
11,162 |
|
|
Equality Health, LLC (14)(17) |
Healthcare Services, Other |
Senior Secured |
February 2026 |
Interest rate PRIME + 6.25% or Floor rate of 9.50%, PIK Interest 1.55% |
$ |
35,018 |
|
|
34,659 |
|
|
34,659 |
|
|
The CM Group LLC (11)(17) |
Healthcare Services, Other |
Senior Secured |
June 2024 |
Interest rate 1-month LIBOR + 9.35% or Floor rate of 10.35% |
$ |
9,310 |
|
|
9,189 |
|
|
9,240 |
|
|
|
Healthcare Services, Other |
Senior Secured |
June 2024 |
Interest rate 3-month LIBOR + 9.35% or Floor rate of 10.35% |
$ |
1,000 |
|
|
1,000 |
|
|
1,000 |
|
|
Total The CM Group LLC |
|
|
|
|
$ |
10,310 |
|
|
10,189 |
|
|
10,240 |
|
|
Velocity Clinical Research, Inc. (13)(17)(18) |
Healthcare Services, Other |
Senior Secured |
November 2024 |
Interest rate 1-month LIBOR + 9.08% or Floor rate of 10.08% |
$ |
9,823 |
|
|
9,529 |
|
|
9,921 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
65,539 |
|
|
65,982 |
|
|
|
Subtotal: Healthcare Services, Other (5.02%)* |
|
|
|
|
|
|
65,539 |
|
|
65,982 |
|
||
|
Information Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Planet Labs, Inc. (11) |
Information Services |
Senior Secured |
June 2022 |
Interest rate PRIME + 5.50% or Floor rate of 11.00%, 3.00% Exit Fee |
$ |
25,000 |
|
|
25,034 |
|
|
25,174 |
|
|
Yipit, LLC (11)(17)(18) |
Information Services |
Senior Secured |
May 2024 |
Interest rate 1-month LIBOR + 8.88% or Floor rate of 9.88% |
$ |
12,000 |
|
|
11,796 |
|
|
12,000 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
36,830 |
|
|
37,174 |
|
|
|
Subtotal: Information Services (2.83%)* |
|
|
|
|
|
|
36,830 |
|
|
37,174 |
|
||
|
Internet Consumer & Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intent (p.k.a. Intent Media, Inc.) (8)(14) |
Internet Consumer & Business Services |
Senior Secured |
September 2021 |
PIK Interest 10.13%, 1.20% Exit Fee |
$ |
2,637 |
|
|
2,662 |
|
|
192 |
|
|
Snagajob.com, Inc. (13) |
Internet Consumer & Business Services |
Senior Secured |
October 2021 |
Interest rate PRIME + 6.90% or Floor rate of 10.15%, 3.05% Exit Fee |
$ |
43,005 |
|
|
43,934 |
|
|
43,483 |
|
|
|
Internet Consumer & Business Services |
Senior Secured |
October 2021 |
Interest rate PRIME + 7.80% or Floor rate of 11.05%, 3.05% Exit Fee |
$ |
5,173 |
|
|
5,288 |
|
|
5,232 |
|
|
Total Snagajob.com, Inc. |
|
|
|
|
$ |
48,178 |
|
|
49,222 |
|
|
48,715 |
|
|
Tectura Corporation (7)(8)(14) |
Internet Consumer & Business Services |
Senior Secured |
May 2021 |
PIK Interest 5.00% |
$ |
10,680 |
|
|
240 |
|
|
— |
|
|
|
Internet Consumer & Business Services |
Senior Secured |
May 2021 |
Interest rate FIXED 8.25% |
$ |
8,250 |
|
|
8,250 |
|
|
8,250 |
|
|
|
Internet Consumer & Business Services |
Senior Secured |
May 2021 |
PIK Interest 5.00% |
$ |
13,023 |
|
|
13,023 |
|
|
273 |
|
|
Total Tectura Corporation |
|
|
|
|
$ |
21,273 |
|
|
21,273 |
|
|
8,523 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
73,397 |
|
|
57,430 |
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
See notes to consolidated financial statements
9
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
|||
|
AppDirect, Inc. (11)(17) |
Internet Consumer & Business Services |
Senior Secured |
August 2024 |
Interest rate PRIME + 5.90% or Floor rate of 9.15%, 7.95% Exit Fee |
$ |
30,790 |
|
$ |
30,877 |
|
$ |
31,890 |
|
|
ePayPolicy Holdings, LLC (11)(17) |
Internet Consumer & Business Services |
Senior Secured |
December 2024 |
Interest rate 3-month LIBOR + 9.00% or Floor rate of 10.00% |
$ |
7,980 |
|
|
7,790 |
|
|
8,060 |
|
|
EverFi, Inc. (13)(14)(16) |
Internet Consumer & Business Services |
Senior Secured |
May 2022 |
Interest rate PRIME + 3.90% or Floor rate of 9.15%, PIK Interest 2.30% |
$ |
84,565 |
|
|
83,921 |
|
|
85,615 |
|
|
Houzz, Inc. (13)(14) |
Internet Consumer & Business Services |
Senior Secured |
November 2022 |
Interest rate PRIME + 3.20% or Floor rate of 8.45%, PIK Interest 2.50%, 4.50% Exit Fee |
$ |
51,725 |
|
|
52,399 |
|
|
52,959 |
|
|
Landing Holdings Inc. (15) |
Internet Consumer & Business Services |
Senior Secured |
March 2023 |
Interest rate PRIME + 6.00% or Floor rate of 9.25%, PIK Interest 2.55% |
$ |
10,000 |
|
|
9,799 |
|
|
9,799 |
|
|
Nextroll, Inc. (14)(19) |
Internet Consumer & Business Services |
Senior Secured |
June 2022 |
Interest rate PRIME + 3.85% or Floor rate of 9.35%, PIK Interest 2.95%, 3.50% Exit Fee |
$ |
21,076 |
|
|
21,488 |
|
|
21,802 |
|
|
Rhino Labs, Inc. (15)(17) |
Internet Consumer & Business Services |
Senior Secured |
March 2024 |
Interest rate PRIME + 5.50% or Floor rate of 8.75%, PIK Interest 2.25% |
$ |
8,000 |
|
|
7,784 |
|
|
7,784 |
|
|
SeatGeek, Inc. (14) |
Internet Consumer & Business Services |
Senior Secured |
June 2023 |
Interest rate PRIME + 5.00% or Floor rate of 10.50%, PIK Interest 0.50% |
$ |
60,376 |
|
|
59,458 |
|
|
57,800 |
|
|
Skyword, Inc. (14) |
Internet Consumer & Business Services |
Senior Secured |
September 2024 |
Interest rate PRIME + 3.88% or Floor rate of 9.38%, PIK Interest 1.90%, 4.00% Exit Fee |
$ |
12,247 |
|
|
12,378 |
|
|
11,916 |
|
|
Thumbtack, Inc. (13)(14) |
Internet Consumer & Business Services |
Senior Secured |
September 2023 |
Interest rate PRIME + 3.45% or Floor rate of 8.95%, PIK Interest 1.50%, 3.95% Exit Fee |
$ |
25,326 |
|
|
25,305 |
|
|
25,700 |
|
|
Varsity Tutors LLC (13)(14) |
Internet Consumer & Business Services |
Senior Secured |
August 2023 |
Interest rate PRIME + 5.25% or Floor rate of 10.75%, PIK Interest 0.55%, 3.00% Exit Fee |
$ |
39,318 |
|
|
39,611 |
|
|
40,905 |
|
|
Wheels Up Partners LLC (11) |
Internet Consumer & Business Services |
Senior Secured |
July 2022 |
Interest rate 3-month LIBOR + 8.55% or Floor rate of 9.55% |
$ |
12,572 |
|
|
12,534 |
|
|
12,554 |
|
|
Worldremit Group Limited (5)(10)(16)(19) |
Internet Consumer & Business Services |
Senior Secured |
February 2025 |
Interest rate 3-month LIBOR + 9.25% or Floor rate of 10.25%, 3.00% Exit Fee |
$ |
96,750 |
|
|
94,747 |
|
|
94,747 |
|
|
Xometry, Inc. (13) |
Internet Consumer & Business Services |
Senior Secured |
May 2022 |
Interest rate PRIME + 3.95% or Floor rate of 8.70%, 6.18% Exit Fee |
$ |
11,000 |
|
|
11,475 |
|
|
11,635 |
|
|
|
Internet Consumer & Business Services |
Senior Secured |
May 2022 |
Interest rate PRIME + 3.95% or Floor rate of 8.70%, 6.45% Exit Fee |
$ |
4,000 |
|
|
4,175 |
|
|
4,247 |
|
|
Total Xometry, Inc. |
|
|
|
|
$ |
15,000 |
|
|
15,650 |
|
|
15,882 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
473,741 |
|
|
477,413 |
|
|
|
Subtotal: Internet Consumer & Business Services (40.66%)* |
|
|
|
|
|
547,138 |
|
|
534,843 |
|
|||
|
Media/Content/Info |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bustle (14)(15) |
Media/Content/Info |
Senior Secured |
June 2023 |
Interest rate PRIME + 4.35% or Floor rate of 9.35%, PIK Interest 1.95%, 4.45% Exit Fee |
$ |
21,147 |
|
|
21,440 |
|
|
21,440 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
21,440 |
|
|
21,440 |
|
|
|
Subtotal: Media/Content/Info (1.63%)* |
|
|
|
|
|
|
21,440 |
|
|
21,440 |
|
||
|
Medical Devices & Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intuity Medical, Inc. (11)(15) |
Medical Devices & Equipment |
Senior Secured |
June 2021 |
Interest rate PRIME + 5.00% or Floor rate of 9.25%, 6.95% Exit Fee |
$ |
11,217 |
|
|
12,416 |
|
|
12,416 |
|
|
Quanterix Corporation (11) |
Medical Devices & Equipment |
Senior Secured |
October 2021 |
Interest rate PRIME + 2.75% or Floor rate of 8.00%, 0.96% Exit Fee |
$ |
7,688 |
|
|
7,775 |
|
|
7,775 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
20,191 |
|
|
20,191 |
|
|
|
Subtotal: Medical Devices & Equipment (1.53%)* |
|
|
|
|
|
20,191 |
|
|
20,191 |
|
|||
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Regent Education (14) |
Software |
Senior Secured |
January 2022 |
Interest rate FIXED 10.00%, PIK Interest 2.00%, 7.94% Exit Fee |
$ |
3,236 |
|
|
3,340 |
|
|
3,378 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
3,340 |
|
|
3,378 |
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3GTMS, LLC. (11)(18) |
Software |
Senior Secured |
February 2025 |
Interest rate 3-Month LIBOR + 9.28% or Floor rate of 10.28% |
$ |
11,667 |
|
|
11,441 |
|
|
11,547 |
|
|
Abrigo (18) |
Software |
Senior Secured |
May 2023 |
Interest rate 3-month LIBOR + 7.88% or Floor rate of 8.88% |
$ |
38,457 |
|
|
38,040 |
|
|
38,457 |
|
|
|
Software |
Senior Secured |
May 2023 |
Interest rate 3-month LIBOR + 5.96% or Floor rate of 6.96% |
$ |
2,312 |
|
|
2,278 |
|
|
2,312 |
|
|
Total Abrigo |
|
|
|
|
$ |
40,769 |
|
|
40,318 |
|
|
40,769 |
|
|
Bitsight Technologies, Inc. (17)(19) |
Software |
Senior Secured |
November 2025 |
Interest rate PRIME + 6.75% or Floor rate of 10.00%, 3.50% Exit Fee |
$ |
12,500 |
|
|
12,290 |
|
|
12,290 |
|
|
Businessolver.com, Inc. (11)(17) |
Software |
Senior Secured |
May 2023 |
Interest rate 6-month LIBOR + 7.50% or Floor rate of 8.50% |
$ |
41,300 |
|
|
40,827 |
|
|
41,151 |
|
See notes to consolidated financial statements
10
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
|||
|
Campaign Monitor Limited (11)(19) |
Software |
Senior Secured |
November 2025 |
Interest rate 6-month LIBOR + 8.90% or Floor rate of 9.90% |
$ |
33,000 |
|
$ |
32,374 |
|
$ |
33,330 |
|
|
Clarabridge, Inc. (12)(13)(14)(17) |
Software |
Senior Secured |
May 2024 |
Interest rate PRIME + 5.30% or Floor rate of 8.55%, PIK Interest 2.25% |
$ |
56,138 |
|
|
55,704 |
|
|
57,261 |
|
|
Cloud 9 Software (13) |
Software |
Senior Secured |
April 2024 |
Interest rate 3-month LIBOR + 8.20% or Floor rate of 9.20% |
$ |
10,000 |
|
|
9,875 |
|
|
10,095 |
|
|
CloudBolt Software Inc. (11)(17)(19) |
Software |
Senior Secured |
October 2024 |
Interest rate PRIME + 6.70% or Floor rate of 9.95%, 2.95% Exit Fee |
$ |
5,000 |
|
|
4,888 |
|
|
5,029 |
|
|
Dashlane, Inc. (11)(14)(17)(19) |
Software |
Senior Secured |
April 2022 |
Interest rate PRIME + 4.05% or Floor rate of 8.55%, PIK Interest 1.10%, 8.50% Exit Fee |
$ |
10,323 |
|
|
10,899 |
|
|
10,964 |
|
|
|
Software |
Senior Secured |
March 2023 |
Interest rate PRIME + 4.05% or Floor rate of 8.55%, PIK Interest 1.10%, 4.95% Exit Fee |
$ |
10,223 |
|
|
10,337 |
|
|
10,470 |
|
|
Total Dashlane, Inc. |
|
|
|
|
$ |
20,546 |
|
|
21,236 |
|
|
21,434 |
|
|
Delphix Corp. (13)(19) |
Software |
Senior Secured |
February 2023 |
Interest rate PRIME + 5.50% or Floor rate of 10.25%, 5.00% Exit Fee |
$ |
60,000 |
|
|
60,354 |
|
|
61,698 |
|
|
Envisage Technologies, LLC (13)(18) |
Software |
Senior Secured |
March 2025 |
Interest rate 3-month LIBOR + 9.25% or Floor rate of 10.25% |
$ |
12,025 |
|
|
11,751 |
|
|
11,772 |
|
|
ExtraHop Networks, Inc. (13)(19) |
Software |
Senior Secured |
September 2023 |
Interest rate PRIME + 7.00% or Floor rate of 10.25%, 2.50% Exit Fee |
$ |
15,000 |
|
|
14,818 |
|
|
15,433 |
|
|
FreedomPay, Inc. (13)(19) |
Software |
Senior Secured |
June 2023 |
Interest rate PRIME + 7.70% or Floor rate of 10.95%, 3.55% Exit Fee |
$ |
10,000 |
|
|
10,015 |
|
|
10,210 |
|
|
Gryphon Networks Corp. (17) |
Software |
Senior Secured |
January 2026 |
Interest rate 3-month LIBOR + 9.69% or Floor rate of 10.69% |
$ |
5,232 |
|
|
5,086 |
|
|
5,086 |
|
|
Ikon Science Limited (5)(10)(11)(17)(18) |
Software |
Senior Secured |
October 2024 |
Interest rate 3-month LIBOR + 9.00% or Floor rate of 10.00% |
$ |
7,000 |
|
|
6,759 |
|
|
7,000 |
|
|
Jolt Software, Inc. (14) |
Software |
Senior Secured |
October 2022 |
Interest rate PRIME + 3.00% or Floor rate of 8.50%, PIK Interest 1.75%, 4.50% Exit Fee |
$ |
7,672 |
|
|
7,791 |
|
|
7,913 |
|
|
Kazoo, Inc. (p.k.a. YouEarnedIt, Inc.) (11)(18) |
Software |
Senior Secured |
July 2023 |
Interest rate 3-month LIBOR + 10.14% or Floor rate of 11.14% |
$ |
8,673 |
|
|
8,474 |
|
|
8,566 |
|
|
Khoros (p.k.a Lithium Technologies) (11) |
Software |
Senior Secured |
October 2022 |
Interest rate 6-month LIBOR + 8.00% or Floor rate of 9.00% |
$ |
55,000 |
|
|
54,277 |
|
|
55,000 |
|
|
Logicworks (17) |
Software |
Senior Secured |
January 2024 |
Interest rate PRIME + 7.50% or Floor rate of 10.75% |
$ |
10,000 |
|
|
9,816 |
|
|
9,816 |
|
|
Mixpanel, Inc. (14)(19) |
Software |
Senior Secured |
August 2024 |
Interest rate PRIME + 4.70% or Floor rate of 7.95%, PIK Interest 1.80%, 3.00% Exit Fee |
$ |
20,152 |
|
|
19,861 |
|
|
20,567 |
|
|
Mobile Solutions Services (11)(17)(18) |
Software |
Senior Secured |
December 2025 |
Interest rate 6-month LIBOR + 9.87% or Floor rate of 10.87% |
$ |
18,650 |
|
|
18,077 |
|
|
18,312 |
|
|
Nuvolo Technologies Corporation (13)(19) |
Software |
Senior Secured |
January 2025 |
Interest rate PRIME + 7.70% or Floor rate of 10.95%, 1.75% Exit Fee |
$ |
15,000 |
|
|
14,893 |
|
|
14,981 |
|
|
Optimizely Mergerco, Inc. (17)(18) |
Software |
Senior Secured |
October 2025 |
Interest rate 6-month LIBOR + 10.00% or Floor rate of 11.00% |
$ |
49,875 |
|
|
48,511 |
|
|
48,510 |
|
|
Pollen, Inc. (14)(15)(17) |
Software |
Senior Secured |
November 2023 |
Interest rate PRIME + 4.75% or Floor rate of 8.00%, PIK Interest 0.50%, 4.50% Exit Fee |
$ |
7,429 |
|
|
7,405 |
|
|
7,405 |
|
|
Pymetrics, Inc (14) |
Software |
Senior Secured |
October 2022 |
Interest rate PRIME + 5.50% or Floor rate of 8.75%, PIK Interest 1.75%, 4.00% Exit Fee |
$ |
9,538 |
|
|
9,513 |
|
|
9,448 |
|
|
Reltio, Inc. (13)(14)(17)(19) |
Software |
Senior Secured |
July 2023 |
Interest rate PRIME + 5.70% or Floor rate of 8.95%, PIK Interest 1.70%, 4.95% Exit Fee |
$ |
10,116 |
|
|
10,026 |
|
|
10,341 |
|
|
SingleStore, Inc. (p.k.a. memsql, Inc.) (11)(14)(17) |
Software |
Senior Secured |
May 2023 |
Interest rate PRIME + 4.70% or Floor rate of 7.95%, PIK Interest 0.75%, 3.95% Exit Fee |
$ |
5,030 |
|
|
5,041 |
|
|
5,192 |
|
|
Tact.ai Technologies, Inc. (11)(14) |
Software |
Senior Secured |
February 2023 |
Interest rate PRIME + 4.00% or Floor rate of 8.75%, PIK Interest 2.00%, 5.50% Exit Fee |
$ |
5,107 |
|
|
5,080 |
|
|
5,050 |
|
|
ThreatConnect, Inc. (13)(17)(18) |
Software |
Senior Secured |
May 2024 |
Interest rate 3-month LIBOR + 8.26% or Floor rate of 9.26% |
$ |
4,500 |
|
|
4,398 |
|
|
4,500 |
|
|
Udacity, Inc. (14)(17) |
Software |
Senior Secured |
September 2024 |
Interest rate PRIME + 4.50% or Floor rate of 7.75%, PIK Interest 2.00%, 3.00% Exit Fee |
$ |
35,306 |
|
|
34,961 |
|
|
36,383 |
|
|
Vela Trading Technologies (11)(14)(18) |
Software |
Senior Secured |
July 2022 |
Interest rate 3-month LIBOR + 11.00% or Floor rate of 12.00%, PIK Interest 2.50% |
$ |
18,244 |
|
|
17,902 |
|
|
11,859 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
613,762 |
|
|
617,948 |
|
|
See notes to consolidated financial statements
11
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
|||
|
Greater than 5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Imperva, Inc. (19) |
Software |
Senior Secured |
January 2027 |
Interest rate 3-month LIBOR + 7.75% or Floor rate of 8.75% |
$ |
20,000 |
|
$ |
19,833 |
|
$ |
19,857 |
|
|
Subtotal: Greater than 5 Years Maturity |
|
|
|
|
|
|
19,833 |
|
|
19,857 |
|
||
|
Subtotal: Software (48.74%)* |
|
|
|
|
|
|
636,935 |
|
|
641,183 |
|
||
|
Sustainable and Renewable Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pineapple Energy LLC (6)(8)(9)(17) |
Sustainable and Renewable Technology |
Senior Secured |
January 2022 |
Interest rate FIXED 10.00% |
$ |
40 |
|
|
40 |
|
|
40 |
|
|
Solar Spectrum Holdings LLC (p.k.a. Sungevity, Inc.) (6)(8)(14) |
Sustainable and Renewable Technology |
Senior Secured |
April 2021 |
PIK Interest 10.00% |
$ |
641 |
|
|
641 |
|
|
— |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
681 |
|
|
40 |
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impossible Foods, Inc. (12)(13) |
Sustainable and Renewable Technology |
Senior Secured |
July 2022 |
Interest rate PRIME + 3.95% or Floor rate of 8.95%, 9.00% Exit Fee |
$ |
33,097 |
|
|
36,819 |
|
|
37,092 |
|
|
Pineapple Energy LLC (6)(8)(9)(17) |
Sustainable and Renewable Technology |
Convertible Debt |
December 2023 |
PIK Interest 10.00% |
$ |
7,500 |
|
|
7,500 |
|
|
7,500 |
|
|
Pivot Bio, Inc. (15) |
Sustainable and Renewable Technology |
Senior Secured |
April 2024 |
Interest rate PRIME + 4.90% or Floor rate of 8.15%, PIK Interest 1.25%, 3.25% Exit Fee |
$ |
31,500 |
|
|
31,183 |
|
|
31,183 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
75,502 |
|
|
75,775 |
|
|||
|
Subtotal: Sustainable and Renewable Technology (5.76%)* |
|
|
|
|
|
76,183 |
|
|
75,815 |
|
|||
|
Total: Debt Investments (166.11%)* |
|
|
|
|
|
|
$ |
2,181,987 |
|
$ |
2,185,062 |
|
|
See notes to consolidated financial statements
12
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost (3) |
|
|
Value (4) |
|
||||
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peerless Network Holdings, Inc. |
|
Communications & Networking |
|
Equity |
|
Common Stock |
|
|
3,328 |
|
|
$ |
— |
|
|
$ |
10 |
|
|
|
|
|
Communications & Networking |
|
Equity |
|
Preferred Series A |
|
|
1,135,000 |
|
|
|
1,230 |
|
|
|
5,041 |
|
|
|
Total Peerless Network Holdings, Inc. |
|
|
|
|
|
|
|
|
1,138,328 |
|
|
|
1,230 |
|
|
|
5,051 |
|
|
|
Subtotal: Communications & Networking (0.38%)* |
|
|
|
|
|
1,230 |
|
|
|
5,051 |
|
||||||||
|
Consumer & Business Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TechStyle, Inc. (p.k.a. Just Fabulous, Inc.) |
|
Consumer & Business Products |
|
Equity |
|
Common Stock |
|
|
42,989 |
|
|
|
128 |
|
|
|
360 |
|
|
|
Subtotal: Consumer & Business Products (0.03%)* |
|
|
|
|
|
128 |
|
|
|
360 |
|
||||||||
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gibraltar Business Capital, LLC (7) |
|
Diversified Financial Services |
|
Equity |
|
Common Stock |
|
|
830,000 |
|
|
|
1,884 |
|
|
|
1,775 |
|
|
|
|
|
Diversified Financial Services |
|
Equity |
|
Preferred Series A |
|
|
10,602,752 |
|
|
|
26,122 |
|
|
|
24,612 |
|
|
|
Total Gibraltar Business Capital, LLC |
|
|
|
|
|
|
|
|
11,432,752 |
|
|
|
28,006 |
|
|
|
26,387 |
|
|
|
Hercules Adviser LLC (7) |
|
Diversified Financial Services |
|
Equity |
|
Member Units |
|
|
|
|
|
|
— |
|
|
|
9,869 |
|
|
|
Subtotal: Diversified Financial Services (2.76%)* |
|
|
|
|
|
28,006 |
|
|
|
36,256 |
|
||||||||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AcelRx Pharmaceuticals, Inc. (4) |
|
Drug Delivery |
|
Equity |
|
Common Stock |
|
|
176,730 |
|
|
|
1,329 |
|
|
|
300 |
|
|
|
Aytu BioScience, Inc. (p.k.a. Neos Therapeutics, Inc.) (4)(15) |
|
Drug Delivery |
|
Equity |
|
Common Stock |
|
|
13,600 |
|
|
|
1,500 |
|
|
|
103 |
|
|
|
BioQ Pharma Incorporated (15) |
|
Drug Delivery |
|
Equity |
|
Preferred Series D |
|
|
165,000 |
|
|
|
500 |
|
|
|
202 |
|
|
|
Kaleo, Inc. |
|
Drug Delivery |
|
Equity |
|
Preferred Series B |
|
|
82,500 |
|
|
|
1,007 |
|
|
|
2,396 |
|
|
|
PDS Biotechnology Corporation (p.k.a. Edge Therapeutics, Inc.) (4) |
|
Drug Delivery |
|
Equity |
|
Common Stock |
|
|
2,498 |
|
|
|
309 |
|
|
|
12 |
|
|
|
Subtotal: Drug Delivery (0.23%)* |
|
|
|
|
|
4,645 |
|
|
|
3,013 |
|
||||||||
|
Drug Discovery & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Albireo Pharma, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
25,000 |
|
|
|
1,000 |
|
|
|
881 |
|
|
|
Aveo Pharmaceuticals, Inc. (4)(15) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
190,179 |
|
|
|
1,715 |
|
|
|
1,393 |
|
|
|
Bicycle Therapeutics PLC (4)(5)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
98,100 |
|
|
|
1,871 |
|
|
|
2,930 |
|
|
|
BridgeBio Pharma LLC (4)(16) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
231,329 |
|
|
|
2,255 |
|
|
|
14,250 |
|
|
|
Cerecor, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
119,087 |
|
|
|
1,000 |
|
|
|
360 |
|
|
|
Chemocentryx, Inc. (4)(10)(15) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
17,241 |
|
|
|
1,000 |
|
|
|
883 |
|
|
|
Concert Pharmaceuticals, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
70,796 |
|
|
|
1,367 |
|
|
|
353 |
|
|
|
Dare Biosciences, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
13,550 |
|
|
|
1,000 |
|
|
|
23 |
|
|
|
Dynavax Technologies (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
20,000 |
|
|
|
550 |
|
|
|
197 |
|
|
|
Genocea Biosciences, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
27,933 |
|
|
|
2,000 |
|
|
|
76 |
|
|
|
Humanigen, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
43,243 |
|
|
|
800 |
|
|
|
826 |
|
|
|
Kaleido Biosciences, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
86,585 |
|
|
|
1,000 |
|
|
|
701 |
|
|
|
Paratek Pharmaceuticals, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
76,362 |
|
|
|
2,744 |
|
|
|
538 |
|
|
|
Rocket Pharmaceuticals, Ltd. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
944 |
|
|
|
1,500 |
|
|
|
42 |
|
|
|
Savara, Inc. (4)(15) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
11,119 |
|
|
|
203 |
|
|
|
23 |
|
|
|
Sio Gene Therapies, Inc. (p.k.a. Axovant Gene Therapies Ltd.) (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
16,228 |
|
|
|
1,269 |
|
|
|
42 |
|
|
|
Tricida, Inc. (4)(15) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
68,816 |
|
|
|
863 |
|
|
|
364 |
|
|
|
uniQure B.V. (4)(5)(10)(16) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
17,175 |
|
|
|
332 |
|
|
|
579 |
|
|
|
Valo Health, LLC (p.k.a. Integral Health Holdings, LLC) |
|
Drug Discovery & Development |
|
Equity |
|
Preferred Series B |
|
|
510,308 |
|
|
|
3,000 |
|
|
|
2,847 |
|
|
|
X4 Pharmaceuticals, Inc. (4)(20) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
198,277 |
|
|
|
1,641 |
|
|
|
1,482 |
|
|
|
Subtotal: Drug Discovery & Development (2.19%)* |
|
|
|
|
|
27,110 |
|
|
|
28,790 |
|
||||||||
|
Healthcare Services, Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23andMe, Inc. |
|
Healthcare Services, Other |
|
Equity |
|
Common Stock |
|
|
360,000 |
|
|
|
5,094 |
|
|
|
8,744 |
|
|
|
Carbon Health Technologies, Inc. |
|
Healthcare Services, Other |
|
Equity |
|
Preferred Series C |
|
|
217,880 |
|
|
|
1,687 |
|
|
|
1,688 |
|
|
|
Subtotal: Healthcare Services, Other (0.79%)* |
|
|
|
|
|
6,781 |
|
|
|
10,432 |
|
||||||||
|
Internet Consumer & Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Black Crow AI, Inc. (6) |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series Seed |
|
|
872,797 |
|
|
|
1,000 |
|
|
|
1,255 |
|
|
|
Black Crow AI, Inc. affiliates(21) |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Note |
|
N/A |
|
|
|
3,000 |
|
|
|
3,000 |
|
||
|
Brigade Group, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
9,023 |
|
|
|
93 |
|
|
|
— |
|
|
|
Contentful Global, Inc. (p.k.a. Contentful, Inc.) (5)(10) |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series C |
|
|
41,000 |
|
|
|
138 |
|
|
|
238 |
|
|
|
|
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series D |
|
|
108,500 |
|
|
|
500 |
|
|
|
701 |
|
|
|
Total Contentful Global, Inc. (p.k.a. Contentful, Inc.) |
|
|
|
|
|
|
|
|
149,500 |
|
|
|
638 |
|
|
|
939 |
|
|
|
DoorDash, Inc. (4)(20) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
475,000 |
|
|
|
5,475 |
|
|
|
58,443 |
|
|
See notes to consolidated financial statements
13
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost (3) |
|
|
Value (4) |
|
||||
|
Lyft, Inc. (4) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
200,738 |
|
|
$ |
10,487 |
|
|
$ |
12,683 |
|
|
|
Nextdoor.com, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
328,190 |
|
|
|
4,854 |
|
|
|
9,296 |
|
|
|
OfferUp, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series A |
|
|
286,080 |
|
|
|
1,663 |
|
|
|
1,948 |
|
|
|
|
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series A-1 |
|
|
108,710 |
|
|
|
632 |
|
|
|
740 |
|
|
|
Total OfferUp, Inc. |
|
|
|
|
|
|
|
|
394,790 |
|
|
|
2,295 |
|
|
|
2,688 |
|
|
|
Oportun (4) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
48,365 |
|
|
|
577 |
|
|
|
1,002 |
|
|
|
Reischling Press, Inc. (p.k.a. Blurb, Inc.) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
1,163 |
|
|
|
15 |
|
|
|
— |
|
|
|
Savage X Holding, LLC |
|
Internet Consumer & Business Services |
|
Equity |
|
Class A Units |
|
42137 |
|
|
13 |
|
|
38 |
|
||||
|
Tectura Corporation (7) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
414,994,863 |
|
|
|
900 |
|
|
|
— |
|
|
|
|
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series BB |
|
|
1,000,000 |
|
|
|
— |
|
|
|
— |
|
|
|
Total Tectura Corporation |
|
|
|
|
|
|
|
|
415,994,863 |
|
|
|
900 |
|
|
|
— |
|
|
|
TFG Holding, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
42,989 |
|
|
|
89 |
|
|
|
325 |
|
|
|
Uber Technologies, Inc. (p.k.a. Postmates, Inc.) (4) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
32,991 |
|
|
|
317 |
|
|
|
1,798 |
|
|
|
Subtotal: Internet Consumer & Business Services (6.95%)* |
|
|
|
|
|
29,753 |
|
|
|
91,467 |
|
||||||||
|
Media/Content/Info |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WP Technology, Inc. (Wattpad, Inc.) (5)(10) |
|
Media/Content/Info |
|
Equity |
|
Common Stock |
|
|
255,820 |
|
|
|
3 |
|
|
|
614 |
|
|
|
Subtotal: Media/Content/Info (0.05%)* |
|
|
|
|
|
3 |
|
|
|
614 |
|
||||||||
|
Medical Devices & Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Flowonix Medical Incorporated |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series AA |
|
|
221,893 |
|
|
|
1,500 |
|
|
|
— |
|
|
|
Gelesis, Inc. |
|
Medical Devices & Equipment |
|
Equity |
|
Common Stock |
|
|
227,013 |
|
|
|
— |
|
|
|
908 |
|
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series A-1 |
|
|
191,210 |
|
|
|
425 |
|
|
|
799 |
|
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series A-2 |
|
|
191,626 |
|
|
|
500 |
|
|
|
781 |
|
|
|
Total Gelesis, Inc. |
|
|
|
|
|
|
|
|
609,849 |
|
|
|
925 |
|
|
|
2,488 |
|
|
|
Medrobotics Corporation (15) |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series E |
|
|
136,798 |
|
|
|
250 |
|
|
|
— |
|
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series F |
|
|
73,971 |
|
|
|
155 |
|
|
|
— |
|
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series G |
|
|
163,934 |
|
|
|
500 |
|
|
|
— |
|
|
|
Total Medrobotics Corporation |
|
|
|
|
|
|
|
|
374,703 |
|
|
|
905 |
|
|
|
— |
|
|
|
Outset Medical, Inc. (4) |
|
Medical Devices & Equipment |
|
Equity |
|
Common Stock |
|
|
38,243 |
|
|
|
527 |
|
|
|
2,080 |
|
|
|
ViewRay, Inc. (4)(15) |
|
Medical Devices & Equipment |
|
Equity |
|
Common Stock |
|
|
36,457 |
|
|
|
333 |
|
|
|
159 |
|
|
|
Subtotal: Medical Devices & Equipment (0.36%)* |
|
|
|
|
|
4,190 |
|
|
|
4,727 |
|
||||||||
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CapLinked, Inc. |
|
Software |
|
Equity |
|
Preferred Series A-3 |
|
|
53,614 |
|
|
|
51 |
|
|
|
84 |
|
|
|
Docker, Inc. |
|
Software |
|
Equity |
|
Common Stock |
|
|
20,000 |
|
|
|
4,284 |
|
|
|
18 |
|
|
|
Druva Holdings, Inc. (p.k.a. Druva, Inc.) |
|
Software |
|
Equity |
|
Preferred Series 2 |
|
|
458,841 |
|
|
|
1,000 |
|
|
|
1,227 |
|
|
|
|
|
Software |
|
Equity |
|
Preferred Series 3 |
|
|
93,620 |
|
|
|
300 |
|
|
|
301 |
|
|
|
Total Druva Holdings, Inc. (p.k.a. Druva, Inc.) |
|
|
|
|
|
|
|
|
552,461 |
|
|
|
1,300 |
|
|
|
1,528 |
|
|
|
HighRoads, Inc. |
|
Software |
|
Equity |
|
Common Stock |
|
|
190 |
|
|
|
307 |
|
|
|
— |
|
|
|
Lightbend, Inc. |
|
Software |
|
Equity |
|
Preferred Series D |
|
|
384,616 |
|
|
|
265 |
|
|
|
105 |
|
|
|
Palantir Technologies (4) |
|
Software |
|
Equity |
|
Common Stock |
|
|
1,668,337 |
|
|
|
10,198 |
|
|
|
38,856 |
|
|
|
SingleStore, Inc. (p.k.a. memsql, Inc.) |
|
Software |
|
Equity |
|
Preferred Series E |
|
|
580,983 |
|
|
|
2,000 |
|
|
|
2,000 |
|
|
|
Sprinklr, Inc. |
|
Software |
|
Equity |
|
Common Stock |
|
|
700,000 |
|
|
|
3,749 |
|
|
|
7,280 |
|
|
|
Subtotal: Software (3.79%)* |
|
|
|
|
|
22,154 |
|
|
|
49,871 |
|
||||||||
|
Surgical Devices |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gynesonics, Inc. (15) |
|
Surgical Devices |
|
Equity |
|
Preferred Series B |
|
|
219,298 |
|
|
|
250 |
|
|
|
17 |
|
|
See notes to consolidated financial statements
14
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost (3) |
|
|
Value (4) |
|
||||
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series C |
|
|
656,538 |
|
|
$ |
282 |
|
|
$ |
50 |
|
|
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series D |
|
|
1,991,157 |
|
|
|
712 |
|
|
|
157 |
|
|
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series E |
|
|
2,786,367 |
|
|
|
429 |
|
|
|
245 |
|
|
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series F |
|
|
1,523,693 |
|
|
|
118 |
|
|
|
192 |
|
|
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series F-1 |
|
|
2,418,125 |
|
|
|
150 |
|
|
|
277 |
|
|
|
Total Gynesonics, Inc. |
|
|
|
|
|
|
|
|
9,595,178 |
|
|
|
1,941 |
|
|
|
938 |
|
|
|
Subtotal: Surgical Devices (0.07%)* |
|
|
|
|
|
1,941 |
|
|
|
938 |
|
||||||||
|
Sustainable and Renewable Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impossible Foods, Inc. |
|
Sustainable and Renewable Technology |
|
Equity |
|
Preferred Series E-1 |
|
|
188,611 |
|
|
|
2,000 |
|
|
|
2,515 |
|
|
|
Modumetal, Inc. |
|
Sustainable and Renewable Technology |
|
Equity |
|
Preferred Series A-1 |
|
|
103,584 |
|
|
|
501 |
|
|
|
— |
|
|
|
NantEnergy LLC (p.k.a. NantEnergy, Inc.) |
|
Sustainable and Renewable Technology |
|
Equity |
|
Common Units |
|
|
59,665 |
|
|
|
102 |
|
|
|
— |
|
|
|
Pineapple Energy LLC (6) |
|
Sustainable and Renewable Technology |
|
Equity |
|
Class A Units |
|
|
17,647 |
|
|
|
4,767 |
|
|
|
869 |
|
|
|
Proterra, Inc. |
|
Sustainable and Renewable Technology |
|
Equity |
|
Preferred Series 5 |
|
|
99,280 |
|
|
|
500 |
|
|
|
1,268 |
|
|
|
Solar Spectrum Holdings LLC (p.k.a. Sungevity, Inc.) (6) |
|
Sustainable and Renewable Technology |
|
Equity |
|
Common Stock |
|
|
488 |
|
|
|
61,502 |
|
|
|
— |
|
|
|
Subtotal: Sustainable and Renewable Technology (0.35%)* |
|
|
|
|
|
69,372 |
|
|
|
4,652 |
|
||||||||
|
Total: Equity Investments (17.95%)* |
|
|
|
|
|
|
|
|
|
|
|
$ |
195,313 |
|
|
$ |
236,171 |
|
|
|
Warrant Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Spring Mobile Solutions, Inc. |
|
Communications & Networking |
|
Warrant |
|
Common Stock |
|
|
2,834,375 |
|
|
$ |
418 |
|
|
$ |
— |
|
|
|
Subtotal: Communications & Networking (0.00%)* |
|
|
|
|
|
418 |
|
|
|
— |
|
||||||||
|
Consumer & Business Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gadget Guard (15) |
|
Consumer & Business Products |
|
Warrant |
|
Common Stock |
|
|
1,662,441 |
|
|
|
228 |
|
|
|
— |
|
|
|
TechStyle, Inc. (p.k.a. Just Fabulous, Inc.) |
|
Consumer & Business Products |
|
Warrant |
|
Preferred Series B |
|
|
206,185 |
|
|
|
1,101 |
|
|
|
1,770 |
|
|
|
The Neat Company |
|
Consumer & Business Products |
|
Warrant |
|
Common Stock |
|
|
54,054 |
|
|
|
365 |
|
|
|
— |
|
|
|
Whoop, Inc. |
|
Consumer & Business Products |
|
Warrant |
|
Preferred Series C |
|
|
68,627 |
|
|
|
18 |
|
|
|
1,162 |
|
|
|
Subtotal: Consumer & Business Products (0.22%)* |
|
|
|
|
|
1,712 |
|
|
|
2,932 |
|
||||||||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerami Therapeutics (p.k.a. Dance Biopharm, Inc.) (15) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
110,882 |
|
|
|
74 |
|
|
|
— |
|
|
|
BioQ Pharma Incorporated |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
459,183 |
|
|
|
1 |
|
|
|
75 |
|
|
|
PDS Biotechnology Corporation (p.k.a. Edge Therapeutics, Inc.) (4) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
3,929 |
|
|
|
390 |
|
|
|
— |
|
|
|
Subtotal: Drug Delivery (0.01%)* |
|
|
|
|
|
465 |
|
|
|
75 |
|
||||||||
|
Drug Discovery & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acacia Pharma Inc. (4)(5)(10) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
201,330 |
|
|
|
304 |
|
|
|
128 |
|
|
|
ADMA Biologics, Inc. (4) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
89,750 |
|
|
|
295 |
|
|
|
3 |
|
|
|
Albireo Pharma, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
5,311 |
|
|
|
61 |
|
|
|
87 |
|
|
|
Axsome Therapeutics, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
15,541 |
|
|
|
681 |
|
|
|
321 |
|
|
|
Brickell Biotech, Inc. (4) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
9,005 |
|
|
|
119 |
|
|
|
— |
|
|
|
Century Therapeutics |
|
Drug Discovery & Development |
|
Warrant |
|
Common Units |
|
|
40,540 |
|
|
|
37 |
|
|
|
105 |
|
|
|
Concert Pharmaceuticals, Inc. (4)(10)(15) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
61,273 |
|
|
|
178 |
|
|
|
21 |
|
|
|
Dermavant Sciences Ltd. (10) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
223,642 |
|
|
|
101 |
|
|
|
326 |
|
|
|
Evofem Biosciences, Inc. (4)(15) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
7,806 |
|
|
|
266 |
|
|
|
2 |
|
|
|
Genocea Biosciences, Inc. (4) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
41,176 |
|
|
|
165 |
|
|
|
15 |
|
|
|
Motif Bio PLC (4)(10) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
121,337,041 |
|
|
|
282 |
|
|
|
— |
|
|
|
Myovant Sciences, Ltd. (4)(10) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
73,710 |
|
|
|
460 |
|
|
|
653 |
|
|
|
Ology Bioservices, Inc. (15) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
171,389 |
|
|
|
838 |
|
|
|
— |
|
|
|
Paratek Pharmaceuticals, Inc. (4)(15) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
469,388 |
|
|
|
644 |
|
|
|
1,165 |
|
|
|
Stealth Bio Therapeutics Corp. (4)(10) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
500,000 |
|
|
|
158 |
|
|
|
1 |
|
|
|
TG Therapeutics, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
147,058 |
|
|
|
563 |
|
|
|
4,880 |
|
|
|
Tricida, Inc. (4)(15) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
31,352 |
|
|
|
280 |
|
|
|
2 |
|
|
|
Valo Health, LLC (p.k.a. Integral Health Holdings, LLC) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Units |
|
|
102,216 |
|
|
|
256 |
|
|
|
298 |
|
|
|
X4 Pharmaceuticals, Inc. (4)(20) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
108,334 |
|
|
|
673 |
|
|
|
201 |
|
|
|
Yumanity Therapeutics, Inc. (4) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
15,414 |
|
|
|
110 |
|
|
|
107 |
|
|
|
Subtotal: Drug Discovery & Development (0.63%)* |
|
|
|
|
|
6,471 |
|
|
|
8,315 |
|
||||||||
|
Electronics & Computer Hardware |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See notes to consolidated financial statements
15
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost (3) |
|
|
Value (4) |
|
||||
|
908 Devices, Inc. (4)(15)(20) |
|
Electronics & Computer Hardware |
|
Warrant |
|
Common Stock |
|
|
49,078 |
|
|
$ |
101 |
|
|
$ |
1,242 |
|
|
|
Subtotal: Electronics & Computer Hardware (0.09%)* |
|
|
|
|
|
101 |
|
|
|
1,242 |
|
||||||||
|
Information Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
InMobi Inc. (10) |
|
Information Services |
|
Warrant |
|
Common Stock |
|
|
65,587 |
|
|
|
82 |
|
|
|
— |
|
|
|
Netbase Solutions, Inc. |
|
Information Services |
|
Warrant |
|
Preferred Series 1 |
|
|
60,000 |
|
|
|
356 |
|
|
|
512 |
|
|
|
Planet Labs, Inc. |
|
Information Services |
|
Warrant |
|
Common Stock |
|
|
357,752 |
|
|
|
615 |
|
|
|
414 |
|
|
|
Sapphire Digital, Inc. (p.k.a. MDX Medical, Inc.) (15) |
|
Information Services |
|
Warrant |
|
Common Stock |
|
|
2,812,500 |
|
|
|
283 |
|
|
|
896 |
|
|
|
Subtotal: Information Services (0.14%)* |
|
|
|
|
|
1,336 |
|
|
|
1,822 |
|
||||||||
|
Internet Consumer & Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aria Systems, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series G |
|
|
231,535 |
|
|
|
74 |
|
|
|
— |
|
|
|
Cloudpay, Inc. (5)(10) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series B |
|
|
6,763 |
|
|
|
54 |
|
|
|
95 |
|
|
|
First Insight, Inc. (15) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series B |
|
|
75,917 |
|
|
|
96 |
|
|
|
78 |
|
|
|
Houzz, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
529,661 |
|
|
|
20 |
|
|
|
108 |
|
|
|
Intent (p.k.a. Intent Media, Inc.) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
140,077 |
|
|
|
168 |
|
|
|
— |
|
|
|
Interactions Corporation |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series G-3 |
|
|
68,187 |
|
|
|
204 |
|
|
|
502 |
|
|
|
Landing Holdings Inc. (15) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
11,806 |
|
|
|
116 |
|
|
|
99 |
|
|
|
Lendio, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series D |
|
|
127,032 |
|
|
|
39 |
|
|
|
15 |
|
|
|
LogicSource |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series C |
|
|
79,625 |
|
|
|
30 |
|
|
|
120 |
|
|
|
Rhino Labs, Inc. (15) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
13,106 |
|
|
|
470 |
|
|
|
442 |
|
|
|
RumbleON, Inc. (4) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
5,139 |
|
|
|
87 |
|
|
|
55 |
|
|
|
SeatGeek, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
1,379,761 |
|
|
|
842 |
|
|
|
902 |
|
|
|
ShareThis, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series C |
|
|
493,502 |
|
|
|
547 |
|
|
|
— |
|
|
|
Skyword, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series B |
|
|
444,444 |
|
|
|
83 |
|
|
|
148 |
|
|
|
Snagajob.com, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
600,000 |
|
|
|
16 |
|
|
|
55 |
|
|
|
|
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series A |
|
|
1,800,000 |
|
|
|
782 |
|
|
|
56 |
|
|
|
|
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series B |
|
|
1,211,537 |
|
|
|
62 |
|
|
|
26 |
|
|
|
Total Snagajob.com, Inc. |
|
|
|
|
|
|
|
|
3,611,537 |
|
|
|
860 |
|
|
|
137 |
|
|
|
Tapjoy, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series D |
|
|
748,670 |
|
|
|
316 |
|
|
|
28 |
|
|
|
The Faction Group LLC |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series AA |
|
|
8,076 |
|
|
|
234 |
|
|
|
812 |
|
|
|
Thumbtack, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
190,953 |
|
|
|
553 |
|
|
|
273 |
|
|
|
Worldremit Group Limited (5)(10)(16) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series D |
|
|
77,215 |
|
|
|
129 |
|
|
|
112 |
|
|
|
Xometry, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series B |
|
|
87,784 |
|
|
|
47 |
|
|
|
915 |
|
|
|
Subtotal: Internet Consumer & Business Services (0.37%)* |
|
|
|
|
|
4,969 |
|
|
|
4,841 |
|
||||||||
|
Media/Content/Info |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Zoom Media Group, Inc. |
|
Media/Content/Info |
|
Warrant |
|
Preferred Series A |
|
|
1,204 |
|
|
|
348 |
|
|
|
— |
|
|
|
Subtotal: Media/Content/Info (0.00%)* |
|
|
|
|
|
348 |
|
|
|
— |
|
||||||||
|
Medical Devices & Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aspire Bariatrics, Inc. (15) |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
22,572 |
|
|
|
455 |
|
|
|
— |
|
|
|
Flowonix Medical Incorporated |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series AA |
|
|
155,325 |
|
|
|
362 |
|
|
|
— |
|
|
|
|
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series BB |
|
|
725,806 |
|
|
|
351 |
|
|
|
— |
|
|
|
Total Flowonix Medical Incorporated |
|
|
|
|
|
|
|
|
881,131 |
|
|
|
713 |
|
|
|
— |
|
|
|
Gelesis, Inc. |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series A-1 |
|
|
74,784 |
|
|
78 |
|
|
|
226 |
|
||
See notes to consolidated financial statements
16
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost (3) |
|
|
Value (4) |
|
||||
|
InspireMD, Inc. (4)(5)(10) |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
23 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
Intuity Medical, Inc. (15) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series B-1 |
|
|
3,076,323 |
|
|
294 |
|
|
|
438 |
|
||
|
Medrobotics Corporation (15) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series E |
|
|
455,539 |
|
|
|
370 |
|
|
|
— |
|
|
|
Outset Medical, Inc. (4) |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
62,794 |
|
|
|
401 |
|
|
|
2,187 |
|
|
|
SonaCare Medical, LLC |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series A |
|
|
6,464 |
|
|
188 |
|
|
|
— |
|
||
|
Tela Bio, Inc. (4) |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
15,712 |
|
|
61 |
|
|
|
9 |
|
||
|
Subtotal: Medical Devices & Equipment (0.22%)* |
|
|
|
|
|
|
2,560 |
|
|
|
2,860 |
|
|||||||
|
Semiconductors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Achronix Semiconductor Corporation |
|
Semiconductors |
|
Warrant |
|
Preferred Series C |
|
|
360,000 |
|
|
|
160 |
|
|
|
1,234 |
|
|
|
|
|
Semiconductors |
|
Warrant |
|
Preferred Series D-2 |
|
|
750,000 |
|
|
|
99 |
|
|
|
3,182 |
|
|
|
Total Achronix Semiconductor Corporation |
|
|
|
|
|
|
|
|
1,110,000 |
|
|
|
259 |
|
|
|
4,416 |
|
|
|
Subtotal: Semiconductors (0.34%)* |
|
|
|
|
|
259 |
|
|
|
4,416 |
|
||||||||
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bitsight Technologies, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
29,691 |
|
|
|
284 |
|
|
|
359 |
|
|
|
CloudBolt Software, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
158,506 |
|
|
|
91 |
|
|
|
85 |
|
|
|
Cloudian, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
477,454 |
|
|
|
72 |
|
|
|
71 |
|
|
|
Couchbase, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
263,377 |
|
|
|
462 |
|
|
|
851 |
|
|
|
Dashlane, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
346,747 |
|
|
|
303 |
|
|
|
235 |
|
|
|
Delphix Corp. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
718,898 |
|
|
|
1,594 |
|
|
|
1,797 |
|
|
|
DNAnexus, Inc. |
|
Software |
|
Warrant |
|
Preferred Series C |
|
|
909,091 |
|
|
|
97 |
|
|
|
123 |
|
|
|
Evernote Corporation |
|
Software |
|
Warrant |
|
Common Stock |
|
|
62,500 |
|
|
|
106 |
|
|
|
63 |
|
|
|
ExtraHop Networks, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
154,784 |
|
|
|
191 |
|
|
|
233 |
|
|
|
Fuze, Inc. (15) |
|
Software |
|
Warrant |
|
Preferred Series F |
|
|
256,158 |
|
|
|
89 |
|
|
|
— |
|
|
|
Lightbend, Inc. (15) |
|
Software |
|
Warrant |
|
Preferred Series C-1 |
|
|
854,787 |
|
|
|
130 |
|
|
|
83 |
|
|
|
Mixpanel, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
82,362 |
|
|
|
252 |
|
|
|
538 |
|
|
|
Nuvolo Technologies Corporation |
|
Software |
|
Warrant |
|
Common Stock |
|
|
50,000 |
|
|
|
88 |
|
|
|
415 |
|
|
|
OneLogin, Inc. (15) |
|
Software |
|
Warrant |
|
Common Stock |
|
|
381,620 |
|
|
|
305 |
|
|
|
710 |
|
|
|
Poplicus, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
132,168 |
|
|
|
— |
|
|
|
— |
|
|
|
Pymetrics, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
150,943 |
|
|
|
77 |
|
|
|
168 |
|
|
|
RapidMiner, Inc. |
|
Software |
|
Warrant |
|
Preferred Series C-1 |
|
|
4,982 |
|
|
|
24 |
|
|
|
31 |
|
|
|
Reltio, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
69,120 |
|
|
|
215 |
|
|
|
211 |
|
|
|
Signpost, Inc. |
|
Software |
|
Warrant |
|
Series Junior 1 Preferred |
|
|
474,019 |
|
|
|
314 |
|
|
|
— |
|
|
|
SingleStore, Inc. (p.k.a. memsql, Inc.) |
|
Software |
|
Warrant |
|
Preferred Series D |
|
|
312,596 |
|
|
|
103 |
|
|
|
652 |
|
|
|
Tact.ai Technologies, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
1,041,667 |
|
|
|
206 |
|
|
|
273 |
|
|
|
Udacity, Inc. |
|
Software |
|
Warrant |
|
Common Stock |
|
|
486,359 |
|
|
|
218 |
|
|
|
335 |
|
|
|
ZeroFox, Inc. |
|
Software |
|
Warrant |
|
Preferred Series C-1 |
|
|
648,350 |
|
|
|
100 |
|
|
|
292 |
|
|
|
Subtotal: Software (0.57%)* |
|
|
|
|
|
5,321 |
|
|
|
7,525 |
|
||||||||
|
Specialty Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alimera Sciences, Inc. (4) |
|
Specialty Pharmaceuticals |
|
Warrant |
|
Common Stock |
|
|
30,581 |
|
|
|
132 |
|
|
|
50 |
|
|
|
Subtotal: Specialty Pharmaceuticals (0.00%)* |
|
|
|
|
|
132 |
|
|
|
50 |
|
||||||||
|
Surgical Devices |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gynesonics, Inc. (15) |
|
Surgical Devices |
|
Warrant |
|
Preferred Series C |
|
|
151,123 |
|
|
|
67 |
|
|
|
12 |
|
|
|
TransMedics Group, Inc. (p.k.a Transmedics, Inc.) (4) |
|
Surgical Devices |
|
Warrant |
|
Common Stock |
|
|
64,440 |
|
|
|
139 |
|
|
|
1,493 |
|
|
|
Subtotal: Surgical Devices (0.11%)* |
|
|
|
|
|
206 |
|
|
|
1,505 |
|
||||||||
|
Sustainable and Renewable Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agrivida, Inc. |
|
Sustainable and Renewable Technology |
|
Warrant |
|
Preferred Series D |
|
|
471,327 |
|
|
|
120 |
|
|
|
— |
|
|
|
Fulcrum Bioenergy, Inc. |
|
Sustainable and Renewable Technology |
|
Warrant |
|
Preferred Series C-1 |
|
|
280,897 |
|
|
|
274 |
|
|
|
882 |
|
|
|
Kinestral Technologies, Inc. |
|
Sustainable and Renewable Technology |
|
Warrant |
|
Preferred Series A |
|
|
325,000 |
|
|
|
155 |
|
|
|
345 |
|
|
|
|
|
Sustainable and Renewable Technology |
|
Warrant |
|
Preferred Series B |
|
|
131,883 |
|
|
|
63 |
|
|
|
122 |
|
|
|
Total Kinestral Technologies, Inc. |
|
|
|
|
|
|
|
|
456,883 |
|
|
|
218 |
|
|
|
467 |
|
|
See notes to consolidated financial statements
17
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost (3) |
|
|
Value (4) |
|
||||
|
Polyera Corporation (15) |
|
Sustainable and Renewable Technology |
|
Warrant |
|
Preferred Series C |
|
|
311,609 |
|
|
$ |
338 |
|
|
$ |
— |
|
|
|
Proterra, Inc. |
|
Sustainable and Renewable Technology |
|
Warrant |
|
Common Stock |
|
|
36,630 |
|
|
|
1 |
|
|
|
308 |
|
|
|
|
|
Sustainable and Renewable Technology |
|
Warrant |
|
Preferred Series 4 |
|
|
477,519 |
|
|
|
41 |
|
|
|
4,776 |
|
|
|
Total Proterra, Inc. |
|
|
|
|
|
|
|
|
514,149 |
|
|
|
42 |
|
|
|
5,084 |
|
|
|
Solar Spectrum Holdings LLC (p.k.a. Sungevity, Inc.) (6) |
|
Sustainable and Renewable Technology |
|
Warrant |
|
Class A Units |
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
Subtotal: Sustainable and Renewable Technology (0.49%)* |
|
|
|
|
|
992 |
|
|
|
6,433 |
|
||||||||
|
Total: Warrant Investments (3.19%)* |
|
|
|
|
|
|
|
|
|
|
|
$ |
25,290 |
|
|
$ |
42,016 |
|
|
|
Total: Investments in Securities (187.26%)* |
|
|
|
|
|
|
|
|
|
|
|
$ |
2,402,590 |
|
|
$ |
2,463,249 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Funds & Vehicles |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forbion Growth Opportunities Fund I C.V. (5)(10)(17) |
|
Drug Discovery & Development |
|
Investment Funds & Vehicles |
|
|
|
|
|
|
|
|
1,212 |
|
|
|
1,106 |
|
|
|
Total: Investments in Investment Funds & Vehicles (0.08%)* |
|
|
|
|
|
|
|
|
|
|
|
$ |
1,212 |
|
|
$ |
1,106 |
|
|
|
Total: Investments (187.35%)* |
|
|
|
|
|
|
|
|
|
|
|
$ |
2,403,802 |
|
|
$ |
2,464,355 |
|
|
|
* |
Value as a percent of net assets |
|
(1) |
Preferred and common stock, warrants, and equity interests are generally non-income producing. |
|
(2) |
Interest rate PRIME represents 3.25% as of March 31, 2021. 1-month LIBOR, 3-month LIBOR and 6-month LIBOR represent 0.11%, 0.19% and 0.21%, respectively, as of March 31, 2021. |
|
(3) |
Gross unrealized appreciation, gross unrealized depreciation, and net unrealized appreciation for federal income tax purposes totaled $190.4 million, $128.1 million and $62.3 million, respectively. The tax cost of investments is $2.4 billion. |
|
(4) |
Except for warrants in 24 publicly traded companies and common stock in 29 publicly traded companies, all investments are restricted as of March 31, 2021 and were valued at fair value using Level 3 significant unobservable inputs as determined in good faith by the Company’s board of directors (the “Board”). No unrestricted securities of the same issuer are outstanding. The Company uses the Standard Industrial Code for classifying the industry grouping of its portfolio companies. |
|
(5) |
Non-U.S. company or the company’s principal place of business is outside the United States. |
|
(6) |
Affiliate investment as defined under the Investment Company Act of 1940, as amended, (the “1940 Act”) in which Hercules owns at least 5% but generally less than 25% of the company’s voting securities. |
|
(7) |
Control investment as defined under the 1940 Act in which Hercules owns at least 25% of the company’s voting securities or has greater than 50% representation on its board. |
|
(8) |
Debt is on non-accrual status as of March 31, 2021, and is therefore considered non-income producing. Note that as of March 31, 2021, only the PIK, or payment-in-kind, portion is on non-accrual for the Company’s debt investment in Tectura Corporation. |
|
(9) |
Denotes that all or a portion of the debt investment is convertible debt. |
|
(10) |
Indicates assets that the Company deems not “qualifying assets” under section 55(a) of 1940 Act. Qualifying assets must represent at least 70% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. |
|
(11) |
Denotes that all or a portion of the debt investment secures the notes offered in the 2027 Asset-Backed Notes or 2028 Asset-Backed Notes (as defined in Note 5). |
|
(12) |
Denotes that all or a portion of the debt investment is pledged as collateral under the Wells Facility (as defined in Note 5). |
|
(13) |
Denotes that all or a portion of the debt investment is pledged as collateral under the Union Bank Facility (as defined in Note 5). |
|
(14) |
Denotes that all or a portion of the debt investment principal includes accumulated PIK interest and is net of repayments. |
|
(15) |
Denotes that all or a portion of the investment in this portfolio company is held by Hercules Technology III, L.P. or Hercules Capital IV, L.P., the Company’s wholly owned small business investment companies. |
|
(16) |
Denotes that the fair value of the Company’s total investments in this portfolio company represent greater than 5% of the Company’s total assets as of March 31, 2021. |
|
(17) |
Denotes that there is an unfunded contractual commitment available at the request of this portfolio company as of March 31, 2021. Refer to “Note 11 - Commitments and Contingencies”. |
|
(18) |
Denotes unitranche debt with first lien “last-out” senior secured position and security interest in all assets of the portfolio company whereby the “last-out” portion will be subordinated to the “first-out” portion in a liquidation, sale or other disposition. |
|
(19) |
Denotes second lien senior secured debt. |
|
(20) |
Denotes all or a portion of the public equity or warrant investment was acquired in a transaction exempt from registration under the Securities Act of 1933 (“Securities Act”) and may be deemed to be “restricted securities” under the Securities Act. As of March 31, 2021 the aggregate fair value of these securities is $61,367, or 4.67% of the Company’s net assets. |
(21) Denotes investment in a non-voting security in the form of a promissory note. The terms of the notes provide the Company with a lien on the issuers' shares of Common Stock in portfolio company Black Crow AI, Inc., subject to release upon repayment of the outstanding balance of the notes. As of March 31, 2021, the Black Crow AI, Inc. affiliates promissory notes had an outstanding balance of $3.0 million.
See notes to consolidated financial statements
18
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2020
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
||||
|
Debt Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cytracom Holdings LLC (11)(17)(18) |
Communications & Networking |
Senior Secured |
February 2025 |
Interest rate 3-month LIBOR + 9.25% or Floor rate of 10.25% |
$ |
7,000 |
|
$ |
6,819 |
|
$ |
6,955 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
6,819 |
|
|
6,955 |
|
|||||||
|
Subtotal: Communications & Networking (0.59%)* |
|
|
6,819 |
|
|
6,955 |
|
|||||||
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gibraltar Business Capital, LLC (7) |
Diversified Financial Services |
Unsecured |
March 2023 |
Interest rate FIXED 14.50% |
$ |
15,000 |
|
|
14,838 |
|
|
14,970 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
14,838 |
|
|
14,970 |
|
|||||||
|
Subtotal: Diversified Financial Services (1.28%)* |
|
|
14,838 |
|
|
14,970 |
|
|||||||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Antares Pharma Inc. (10)(11)(15) |
Drug Delivery |
Senior Secured |
July 2022 |
Interest rate PRIME + 4.50% or Floor rate of 4.50%, 4.14% Exit Fee |
$ |
40,000 |
|
|
41,104 |
|
|
41,242 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
41,104 |
|
|
41,242 |
|
|||||||
|
Subtotal: Drug Delivery (3.52%)* |
|
|
41,104 |
|
|
41,242 |
|
|||||||
|
Drug Discovery & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Genocea Biosciences, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
May 2021 |
Interest rate PRIME + 3.00% or Floor rate of 8.00%, 5.90% Exit Fee |
$ |
12,922 |
|
|
13,892 |
|
|
13,892 |
|
|
|
Petros Pharmaceuticals, Inc. (p.k.a. Metuchen Pharmaceuticals LLC) |
Drug Discovery & Development |
Senior Secured |
December 2021 |
Interest rate PRIME + 7.25% or Floor rate of 11.50%, 3.05% Exit Fee |
$ |
6,653 |
|
|
7,167 |
|
|
7,156 |
|
|
|
Stealth Bio Therapeutics Corp. (10)(11) |
Drug Discovery & Development |
Senior Secured |
July 2021 |
Interest rate PRIME + 5.50% or Floor rate of 9.50%, 7.69% Exit Fee |
$ |
9,027 |
|
|
10,463 |
|
|
10,463 |
|
|
|
Subtotal: Under 1 Year Maturity |
|
|
31,522 |
|
|
31,511 |
|
|||||||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acacia Pharma Inc. (5)(10)(11) |
Drug Discovery & Development |
Senior Secured |
January 2022 |
Interest rate PRIME + 4.50% or Floor rate of 9.25%, 3.95% Exit Fee |
$ |
5,452 |
|
|
5,775 |
|
|
5,754 |
|
|
|
Albireo Pharma, Inc. (10)(11) |
Drug Discovery & Development |
Senior Secured |
July 2024 |
Interest rate PRIME + 5.90% or Floor rate of 9.15%, 6.95% Exit Fee |
$ |
10,000 |
|
|
9,995 |
|
|
10,106 |
|
|
|
Aldeyra Therapeutics, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
October 2023 |
Interest rate PRIME + 3.10% or Floor rate of 9.10%, 6.95% Exit Fee |
$ |
15,000 |
|
|
15,349 |
|
|
15,623 |
|
|
|
Applied Genetic Technologies Corporation (11) |
Drug Discovery & Development |
Senior Secured |
December 2023 |
Interest rate PRIME + 6.50% or Floor rate of 9.75%, 6.95% Exit Fee |
$ |
10,000 |
|
|
10,025 |
|
|
10,163 |
|
|
|
Aveo Pharmaceuticals, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
September 2023 |
Interest rate PRIME + 6.40% or Floor rate of 9.65%, 6.95% Exit Fee |
$ |
15,000 |
|
|
15,069 |
|
|
15,069 |
|
|
|
Axsome Therapeutics, Inc. (10)(17) |
Drug Discovery & Development |
Senior Secured |
October 2025 |
Interest rate PRIME + 5.90% or Floor rate of 9.15%, 4.85% Exit Fee |
$ |
50,000 |
|
|
49,023 |
|
|
49,023 |
|
|
|
Bicycle Therapeutics PLC (5)(10)(11)(17) |
Drug Discovery & Development |
Senior Secured |
October 2024 |
Interest rate PRIME + 5.60% or Floor rate of 8.85%, 5.00% Exit Fee |
$ |
15,000 |
|
|
14,984 |
|
|
14,984 |
|
|
|
BridgeBio Pharma LLC (12)(13)(16) |
Drug Discovery & Development |
Senior Secured |
November 2023 |
Interest rate PRIME + 3.85% or Floor rate of 8.75%, 6.35% Exit Fee |
$ |
35,000 |
|
|
36,163 |
|
|
36,930 |
|
|
|
|
Drug Discovery & Development |
Senior Secured |
November 2023 |
Interest rate PRIME + 2.85% or Floor rate of 8.60%, 5.75% Exit Fee |
$ |
20,000 |
|
|
20,541 |
|
|
20,977 |
|
|
|
|
Drug Discovery & Development |
Senior Secured |
November 2023 |
Interest rate PRIME + 3.10% or Floor rate of 8.85%, 5.75% Exit Fee |
$ |
20,000 |
|
|
20,400 |
|
|
20,822 |
|
|
|
Total BridgeBio Pharma LLC |
|
|
|
|
$ |
75,000 |
|
|
77,104 |
|
|
78,729 |
|
|
|
Century Therapeutics (11) |
Drug Discovery & Development |
Senior Secured |
April 2024 |
Interest rate PRIME + 6.30% or Floor rate of 9.55%, 3.95% Exit Fee |
$ |
10,000 |
|
|
9,897 |
|
|
9,897 |
|
|
|
Chemocentryx, Inc. (10)(11)(15) |
Drug Discovery & Development |
Senior Secured |
December 2022 |
Interest rate PRIME + 3.30% or Floor rate of 8.05%, 6.25% Exit Fee |
$ |
20,000 |
|
|
20,704 |
|
|
21,031 |
|
|
|
|
Drug Discovery & Development |
Senior Secured |
February 2024 |
Interest rate PRIME + 3.25% or Floor rate of 8.50%, 7.15% Exit Fee |
$ |
5,000 |
|
|
5,039 |
|
|
5,332 |
|
|
|
Total Chemocentryx, Inc. |
|
|
|
|
$ |
25,000 |
|
|
25,743 |
|
|
26,363 |
|
|
|
Codiak Biosciences, Inc. (11)(17) |
Drug Discovery & Development |
Senior Secured |
October 2024 |
Interest rate PRIME + 3.75% or Floor rate of 9.00%, 5.50% Exit Fee |
$ |
25,000 |
|
|
25,099 |
|
|
25,223 |
|
|
|
Dermavant Sciences Ltd. (10)(13) |
Drug Discovery & Development |
Senior Secured |
June 2023 |
Interest rate PRIME + 4.45% or Floor rate of 9.95%, 6.95% Exit Fee |
$ |
20,000 |
|
|
20,615 |
|
|
20,553 |
|
|
|
Eidos Therapeutics, Inc. (10)(13) |
Drug Discovery & Development |
Senior Secured |
October 2023 |
Interest rate PRIME + 3.25% or Floor rate of 8.50%, 5.95% Exit Fee |
$ |
8,750 |
|
|
8,905 |
|
|
9,182 |
|
|
|
G1 Therapeutics, Inc. (10)(11)(17) |
Drug Discovery & Development |
Senior Secured |
June 2024 |
Interest rate PRIME + 6.40% or Floor rate of 9.65%, 6.95% Exit Fee |
$ |
20,000 |
|
|
20,053 |
|
|
20,404 |
|
|
|
Geron Corporation (10)(17) |
Drug Discovery & Development |
Senior Secured |
October 2024 |
Interest rate PRIME + 5.75% or Floor rate of 9.00%, 6.55% Exit Fee |
$ |
16,250 |
|
|
16,158 |
|
|
16,158 |
|
|
|
Kaleido Biosciences, Inc. (13) |
Drug Discovery & Development |
Senior Secured |
January 2024 |
Interest rate PRIME + 6.10% or Floor rate of 9.35%, 7.55% Exit Fee |
$ |
22,500 |
|
|
22,916 |
|
|
23,135 |
|
|
See notes to consolidated financial statements
19
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2020
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
||||
|
Mesoblast (5)(10)(11)(13) |
Drug Discovery & Development |
Senior Secured |
March 2022 |
Interest rate PRIME + 4.95% or Floor rate of 9.70%, 8.70% Exit Fee |
$ |
50,000 |
|
$ |
53,043 |
|
$ |
53,086 |
|
|
|
Nabriva Therapeutics (5)(10) |
Drug Discovery & Development |
Senior Secured |
June 2023 |
Interest rate PRIME + 4.30% or Floor rate of 9.80%, 7.01% Exit Fee |
$ |
5,000 |
|
|
5,259 |
|
|
5,251 |
|
|
|
Seres Therapeutics, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
November 2023 |
Interest rate PRIME + 4.40% or Floor rate of 9.65%, 4.85% Exit Fee |
$ |
25,000 |
|
|
25,238 |
|
|
25,990 |
|
|
|
Syndax Pharmaceutics Inc. (13) |
Drug Discovery & Development |
Senior Secured |
September 2023 |
Interest rate PRIME + 5.10% or Floor rate of 9.85%, 4.99% Exit Fee |
$ |
20,000 |
|
|
20,221 |
|
|
20,582 |
|
|
|
TG Therapeutics, Inc. (10)(13) |
Drug Discovery & Development |
Senior Secured |
March 2022 |
Interest rate PRIME + 4.75% or Floor rate of 10.25%, 3.25% Exit Fee |
$ |
30,000 |
|
|
30,423 |
|
|
30,820 |
|
|
|
Tricida, Inc. (11)(13)(15)(16) |
Drug Discovery & Development |
Senior Secured |
April 2023 |
Interest rate PRIME + 2.35% or Floor rate of 8.35%, 11.04% Exit Fee |
$ |
75,000 |
|
|
78,266 |
|
|
79,452 |
|
|
|
uniQure B.V. (5)(10)(11) |
Drug Discovery & Development |
Senior Secured |
June 2023 |
Interest rate PRIME + 3.35% or Floor rate of 8.85%, 4.95% Exit Fee |
$ |
35,000 |
|
|
35,660 |
|
|
36,849 |
|
|
|
Unity Biotechnology, Inc. (10) |
Drug Discovery & Development |
Senior Secured |
August 2024 |
Interest rate PRIME + 6.10% or Floor rate of 9.35%, 6.25% Exit Fee |
$ |
25,000 |
|
|
24,938 |
|
|
24,938 |
|
|
|
Valo Health, LLC (p.k.a. Integral Health Holdings, LLC) (11) |
Drug Discovery & Development |
Senior Secured |
May 2024 |
Interest rate PRIME + 6.45% or Floor rate of 9.70%, 3.85% Exit Fee |
$ |
11,500 |
|
|
11,279 |
|
|
11,394 |
|
|
|
X4 Pharmaceuticals, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
July 2024 |
Interest rate PRIME + 3.75% or Floor rate of 8.75%, 8.80% Exit Fee |
$ |
32,500 |
|
|
33,082 |
|
|
33,097 |
|
|
|
Yumanity Therapeutics, Inc. (11) |
Drug Discovery & Development |
Senior Secured |
January 2024 |
Interest rate PRIME + 4.00% or Floor rate of 8.75%, 7.25% Exit Fee |
$ |
15,000 |
|
|
15,129 |
|
|
15,350 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
679,248 |
|
|
687,175 |
|
|||||||
|
Subtotal: Drug Discovery & Development (61.26%)* |
|
|
710,770 |
|
|
718,686 |
|
|||||||
|
Electronics & Computer Hardware |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Glo AB (8)(10)(14) |
Electronics & Computer Hardware |
Senior Secured |
February 2021 |
Interest rate PRIME + 6.20% or Floor rate of 10.45%, PIK Interest 1.75%, 5.03% Exit Fee |
$ |
1,631 |
|
|
2,145 |
|
|
2,145 |
|
|
|
Subtotal: Under 1 Year Maturity |
|
|
2,145 |
|
|
2,145 |
|
|||||||
|
Subtotal: Electronics & Computer Hardware (0.18%)* |
|
|
2,145 |
|
|
2,145 |
|
|||||||
|
Healthcare Services, Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The CM Group LLC (17) |
Healthcare Services, Other |
Senior Secured |
June 2024 |
Interest rate 1-month LIBOR + 9.35% or Floor rate of 10.35% |
$ |
10,358 |
|
|
10,229 |
|
|
10,086 |
|
|
|
Velocity Clinical Research, Inc. (13)(17)(18) |
Healthcare Services, Other |
Senior Secured |
November 2024 |
Interest rate 1-month LIBOR + 9.08% or Floor rate of 10.08% |
$ |
9,823 |
|
|
9,511 |
|
|
9,887 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
19,740 |
|
|
19,973 |
|
|||||||
|
Subtotal: Healthcare Services, Other (1.70%)* |
|
|
19,740 |
|
|
19,973 |
|
|||||||
|
Information Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sapphire Digital, Inc. (p.k.a. MDX Medical, Inc.) (14)(15)(19) |
Information Services |
Senior Secured |
December 2021 |
Interest rate PRIME + 6.25% or Floor rate of 9.50%, PIK Interest 1.70%, 5.30% Exit Fee |
$ |
15,825 |
|
|
16,216 |
|
|
16,216 |
|
|
|
Subtotal: Under 1 Year Maturity |
|
|
16,216 |
|
|
16,216 |
|
|||||||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Planet Labs, Inc. (11) |
Information Services |
Senior Secured |
June 2022 |
Interest rate PRIME + 5.50% or Floor rate of 11.00%, 3.00% Exit Fee |
$ |
25,000 |
|
|
24,902 |
|
|
24,957 |
|
|
|
Yipit, LLC (11)(17)(18) |
Information Services |
Senior Secured |
May 2024 |
Interest rate 1-month LIBOR + 8.88% or Floor rate of 9.88% |
$ |
12,000 |
|
|
11,782 |
|
|
12,000 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
36,684 |
|
|
36,957 |
|
|||||||
|
Subtotal: Information Services (4.53%)* |
|
|
52,900 |
|
|
53,173 |
|
|||||||
|
Internet Consumer & Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Black Crow AI, Inc. (8)(9) |
Internet Consumer & Business Services |
Convertible Debt |
October 2021 |
PIK Interest 1.00% |
$ |
3,000 |
|
|
2,993 |
|
|
1,565 |
|
|
|
|
Internet Consumer & Business Services |
Convertible Debt |
October 2021 |
PIK Interest 1.00% |
$ |
1,000 |
|
|
1,000 |
|
|
643 |
|
|
|
Total Black Crow AI, Inc. |
|
|
|
|
$ |
4,000 |
|
|
3,993 |
|
|
2,208 |
|
|
|
Intent (p.k.a. Intent Media, Inc.) (8)(14) |
Internet Consumer & Business Services |
Senior Secured |
September 2021 |
PIK Interest 10.13%, 1.20% Exit Fee |
$ |
4,125 |
|
|
4,150 |
|
|
1,413 |
|
|
|
Snagajob.com, Inc. (13) |
Internet Consumer & Business Services |
Senior Secured |
June 2021 |
Interest rate PRIME + 6.90% or Floor rate of 10.15%, 3.05% Exit Fee |
$ |
43,005 |
|
|
43,917 |
|
|
43,754 |
|
|
|
|
Internet Consumer & Business Services |
Senior Secured |
June 2021 |
Interest rate PRIME + 7.80% or Floor rate of 11.05%, 3.05% Exit Fee |
$ |
5,173 |
|
|
5,281 |
|
|
5,255 |
|
|
|
Total Snagajob.com, Inc. |
|
|
|
|
$ |
48,178 |
|
|
49,198 |
|
|
49,009 |
|
|
See notes to consolidated financial statements
20
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2020
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
||||
|
Tectura Corporation (7)(8)(14) |
Internet Consumer & Business Services |
Senior Secured |
March 2021 |
PIK Interest 5.00% |
$ |
10,680 |
|
$ |
240 |
|
$ |
— |
|
|
|
|
Internet Consumer & Business Services |
Senior Secured |
March 2021 |
Interest rate FIXED 8.25% |
$ |
8,250 |
|
|
8,250 |
|
|
8,250 |
|
|
|
|
Internet Consumer & Business Services |
Senior Secured |
March 2021 |
PIK Interest 5.00% |
$ |
13,023 |
|
|
13,023 |
|
|
350 |
|
|
|
Total Tectura Corporation |
|
|
|
|
$ |
31,953 |
|
|
21,513 |
|
|
8,600 |
|
|
|
Subtotal: Under 1 Year Maturity |
|
|
78,854 |
|
|
61,230 |
|
|||||||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AppDirect, Inc. (11) |
Internet Consumer & Business Services |
Senior Secured |
August 2024 |
Interest rate PRIME + 5.90% or Floor rate of 9.15%, 7.95% Exit Fee |
$ |
30,790 |
|
|
30,712 |
|
|
30,712 |
|
|
|
ePayPolicy Holdings, LLC (11)(17) |
Internet Consumer & Business Services |
Senior Secured |
December 2024 |
Interest rate 3-month LIBOR + 9.00% or Floor rate of 10.00% |
$ |
8,000 |
|
|
7,799 |
|
|
8,080 |
|
|
|
EverFi, Inc. (13)(14)(16) |
Internet Consumer & Business Services |
Senior Secured |
May 2022 |
Interest rate PRIME + 3.90% or Floor rate of 9.15%, PIK Interest 2.30% |
$ |
84,081 |
|
|
83,900 |
|
|
84,987 |
|
|
|
Houzz, Inc. (13)(14) |
Internet Consumer & Business Services |
Senior Secured |
November 2022 |
Interest rate PRIME + 3.20% or Floor rate of 8.45%, PIK Interest 2.50%, 4.50% Exit Fee |
$ |
51,403 |
|
|
51,854 |
|
|
52,151 |
|
|
|
Nextroll, Inc. (14)(19) |
Internet Consumer & Business Services |
Senior Secured |
June 2022 |
Interest rate PRIME + 3.85% or Floor rate of 9.35%, PIK Interest 2.95%, 3.50% Exit Fee |
$ |
20,921 |
|
|
21,240 |
|
|
21,526 |
|
|
|
SeatGeek, Inc. (14) |
Internet Consumer & Business Services |
Senior Secured |
June 2023 |
Interest rate PRIME + 5.00% or Floor rate of 10.50%, PIK Interest 0.50% |
$ |
60,301 |
|
|
59,292 |
|
|
57,561 |
|
|
|
Skyword, Inc. (14) |
Internet Consumer & Business Services |
Senior Secured |
September 2024 |
Interest rate PRIME + 3.88% or Floor rate of 9.38%, PIK Interest 1.90%, 4.00% Exit Fee |
$ |
12,196 |
|
|
12,291 |
|
|
12,021 |
|
|
|
Thumbtack, Inc. (13)(14) |
Internet Consumer & Business Services |
Senior Secured |
September 2023 |
Interest rate PRIME + 3.45% or Floor rate of 8.95%, PIK Interest 1.50%, 3.95% Exit Fee |
$ |
25,231 |
|
|
25,096 |
|
|
25,348 |
|
|
|
Varsity Tutors LLC (13)(14)(17) |
Internet Consumer & Business Services |
Senior Secured |
August 2023 |
Interest rate PRIME + 5.25% or Floor rate of 10.75%, PIK Interest 0.55%, 3.00% Exit Fee |
$ |
39,264 |
|
|
39,438 |
|
|
40,272 |
|
|
|
Wheels Up Partners LLC (11) |
Internet Consumer & Business Services |
Senior Secured |
July 2022 |
Interest rate 3-month LIBOR + 8.55% or Floor rate of 9.55% |
$ |
13,436 |
|
|
13,387 |
|
|
13,337 |
|
|
|
Xometry, Inc. (13) |
Internet Consumer & Business Services |
Senior Secured |
May 2022 |
Interest rate PRIME + 3.95% or Floor rate of 8.70%, 6.18% Exit Fee |
$ |
11,000 |
|
|
11,431 |
|
|
11,556 |
|
|
|
|
Internet Consumer & Business Services |
Senior Subordinate |
May 2022 |
Interest rate PRIME + 3.95% or Floor rate of 8.70%, 6.25% Exit Fee |
$ |
4,000 |
|
|
4,157 |
|
|
4,219 |
|
|
|
Total Xometry, Inc. |
|
|
|
|
$ |
15,000 |
|
|
15,588 |
|
|
15,775 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
360,597 |
|
|
361,770 |
|
|||||||
|
Subtotal: Internet Consumer & Business Services (36.06%)* |
|
|
439,451 |
|
|
423,000 |
|
|||||||
|
Media/Content/Info |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bustle (14)(15) |
Media/Content/Info |
Senior Secured |
June 2023 |
Interest rate PRIME + 4.35% or Floor rate of 9.35%, PIK Interest 1.95%, 4.45% Exit Fee |
$ |
21,045 |
|
|
21,279 |
|
|
21,555 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
21,279 |
|
|
21,555 |
|
|||||||
|
Subtotal: Media/Content/Info (1.84%)* |
|
|
21,279 |
|
|
21,555 |
|
|||||||
|
Medical Devices & Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intuity Medical, Inc. (11)(15) |
Medical Devices & Equipment |
Senior Secured |
June 2021 |
Interest rate PRIME + 5.00% or Floor rate of 9.25%, 6.95% Exit Fee |
$ |
11,217 |
|
|
12,365 |
|
|
12,365 |
|
|
|
Quanterix Corporation (11) |
Medical Devices & Equipment |
Senior Secured |
October 2021 |
Interest rate PRIME + 2.75% or Floor rate of 8.00%, 0.96% Exit Fee |
$ |
7,688 |
|
|
7,752 |
|
|
7,752 |
|
|
|
Sebacia, Inc. (8) |
Medical Devices & Equipment |
Senior Secured |
January 2021 |
Interest rate PRIME + 4.35% or Floor rate of 8.85% |
$ |
1,000 |
|
|
1,000 |
|
— |
|
||
|
Subtotal: Under 1 Year Maturity |
|
|
21,117 |
|
|
20,117 |
|
|||||||
|
Subtotal: Medical Devices & Equipment (1.71%)* |
|
|
21,117 |
|
|
20,117 |
|
|||||||
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ZocDoc (11)(19) |
Software |
Senior Secured |
August 2021 |
Interest rate PRIME + 6.20% or Floor rate of 10.95%, 2.00% Exit Fee |
$ |
30,000 |
|
|
30,509 |
|
|
30,509 |
|
|
|
Subtotal: Under 1 Year Maturity |
|
|
30,509 |
|
|
30,509 |
|
|||||||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3GTMS, LLC. (11)(17)(18) |
Software |
Senior Secured |
February 2025 |
Interest rate 3-Month LIBOR + 9.28% or Floor rate of 10.28% |
$ |
10,000 |
|
|
9,762 |
|
|
9,754 |
|
|
|
Abrigo (18) |
Software |
Senior Secured |
March 2023 |
Interest rate 3-month LIBOR + 7.88% or Floor rate of 8.88% |
$ |
38,457 |
|
|
37,993 |
|
|
38,264 |
|
|
See notes to consolidated financial statements
21
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2020
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
||||
|
|
Software |
Senior Secured |
March 2023 |
Interest rate 3-month LIBOR + 5.96% or Floor rate of 6.96% |
$ |
2,312 |
|
$ |
2,273 |
|
$ |
2,296 |
|
|
|
Total Abrigo |
|
|
|
|
$ |
40,769 |
|
|
40,266 |
|
|
40,560 |
|
|
|
Bitsight Technologies, Inc. (19) |
Software |
Senior Secured |
November 2025 |
Interest rate PRIME + 6.75% or Floor rate of 10.00%, 3.50% Exit Fee |
$ |
12,500 |
|
|
12,289 |
|
|
12,289 |
|
|
|
Businessolver.com, Inc. (11)(17) |
Software |
Senior Secured |
May 2023 |
Interest rate 6-month LIBOR + 7.50% or Floor rate of 8.50% |
$ |
33,650 |
|
|
33,248 |
|
|
33,640 |
|
|
|
|
Software |
Senior Secured |
May 2023 |
Interest rate 6-month LIBOR + 7.50% or Floor rate of 8.50% |
$ |
7,650 |
|
|
7,532 |
|
|
7,579 |
|
|
|
Total Businessolver.com, Inc. |
|
|
|
|
$ |
41,300 |
|
|
40,780 |
|
|
41,219 |
|
|
|
Campaign Monitor Limited (11)(19) |
Software |
Senior Secured |
November 2025 |
Interest rate 6-month LIBOR + 8.90% or Floor rate of 9.90% |
$ |
33,000 |
|
|
32,348 |
|
|
33,304 |
|
|
|
Clarabridge, Inc. (12)(13)(14)(17) |
Software |
Senior Secured |
May 2024 |
Interest rate PRIME + 5.30% or Floor rate of 8.55%, PIK Interest 2.25% |
$ |
55,823 |
|
|
55,359 |
|
|
56,940 |
|
|
|
Cloud 9 Software (13) |
Software |
Senior Secured |
April 2024 |
Interest rate 3-month LIBOR + 8.20% or Floor rate of 9.20% |
$ |
10,000 |
|
|
9,867 |
|
|
10,030 |
|
|
|
CloudBolt Software Inc. (17)(19) |
Software |
Senior Secured |
October 2024 |
Interest rate PRIME + 6.70% or Floor rate of 9.95%, 2.95% Exit Fee |
$ |
5,000 |
|
|
4,867 |
|
|
4,867 |
|
|
|
Cloudian, Inc. (11) |
Software |
Senior Secured |
November 2022 |
Interest rate PRIME + 3.25% or Floor rate of 8.25%, 9.75% Exit Fee |
$ |
15,000 |
|
|
15,883 |
|
|
15,883 |
|
|
|
Couchbase, Inc. (11)(15)(19) |
Software |
Senior Secured |
June 2024 |
Interest rate PRIME + 5.25% or Floor rate of 10.75%, 3.75% Exit Fee |
$ |
25,000 |
|
|
25,167 |
|
|
25,761 |
|
|
|
Dashlane, Inc. (11)(14)(17)(19) |
Software |
Senior Secured |
April 2022 |
Interest rate PRIME + 4.05% or Floor rate of 8.55%, PIK Interest 1.10%, 8.50% Exit Fee |
$ |
10,294 |
|
|
10,808 |
|
|
10,838 |
|
|
|
|
Software |
Senior Secured |
March 2023 |
Interest rate PRIME + 4.05% or Floor rate of 8.55%, PIK Interest 1.10%, 4.95% Exit Fee |
$ |
10,195 |
|
|
10,312 |
|
|
10,343 |
|
|
|
Total Dashlane, Inc. |
|
|
|
|
$ |
20,489 |
|
|
21,120 |
|
|
21,181 |
|
|
|
Delphix Corp. (13)(19) |
Software |
Senior Secured |
February 2023 |
Interest rate PRIME + 5.50% or Floor rate of 10.25%, 5.00% Exit Fee |
$ |
60,000 |
|
|
59,932 |
|
|
61,159 |
|
|
|
Envisage Technologies, LLC (13)(18) |
Software |
Senior Secured |
March 2025 |
Interest rate 3-month LIBOR + 9.00% or Floor rate of 10.00% |
$ |
9,750 |
|
|
9,525 |
|
|
9,750 |
|
|
|
ExtraHop Networks, Inc. (19) |
Software |
Senior Secured |
September 2023 |
Interest rate PRIME + 7.00% or Floor rate of 10.25%, 2.50% Exit Fee |
$ |
15,000 |
|
|
14,745 |
|
|
14,745 |
|
|
|
FreedomPay, Inc. (13)(19) |
Software |
Senior Secured |
June 2023 |
Interest rate PRIME + 7.70% or Floor rate of 10.95%, 3.55% Exit Fee |
$ |
10,000 |
|
|
9,972 |
|
|
10,126 |
|
|
|
Ikon Science Limited (5)(10)(11)(17)(18) |
Software |
Senior Secured |
October 2024 |
Interest rate 3-month LIBOR + 9.00% or Floor rate of 10.00% |
$ |
7,000 |
|
|
6,744 |
|
|
6,724 |
|
|
|
Jolt Software, Inc. (14) |
Software |
Senior Secured |
October 2022 |
Interest rate PRIME + 3.00% or Floor rate of 8.50%, PIK Interest 1.75%, 4.50% Exit Fee |
$ |
7,639 |
|
|
7,725 |
|
|
7,828 |
|
|
|
Kazoo, Inc. (p.k.a. YouEarnedIt, Inc.) (11)(18) |
Software |
Senior Secured |
July 2023 |
Interest rate 3-month LIBOR + 10.15% or Floor rate of 11.15% |
$ |
8,695 |
|
|
8,477 |
|
|
8,509 |
|
|
|
Khoros (p.k.a Lithium Technologies) (11) |
Software |
Senior Secured |
October 2022 |
Interest rate 6-month LIBOR + 8.00% or Floor rate of 9.00% |
$ |
56,208 |
|
|
55,585 |
|
|
56,207 |
|
|
|
Logicworks (17) |
Software |
Senior Secured |
January 2024 |
Interest rate PRIME + 7.50% or Floor rate of 10.75% |
$ |
10,000 |
|
|
9,801 |
|
|
9,801 |
|
|
|
Mixpanel, Inc. (14)(19) |
Software |
Senior Secured |
August 2024 |
Interest rate PRIME + 4.70% or Floor rate of 7.95%, PIK Interest 1.80%, 3.00% Exit Fee |
$ |
20,062 |
|
|
19,703 |
|
|
19,703 |
|
|
|
Mobile Solutions Services (17)(18) |
Software |
Senior Secured |
December 2025 |
Interest rate 6-month LIBOR + 9.87% or Floor rate of 10.87% |
$ |
5,500 |
|
|
5,323 |
|
|
5,400 |
|
|
|
|
Software |
Senior Secured |
December 2025 |
Interest rate 6-month LIBOR + 9.87% or Floor rate of 10.87% |
$ |
13,150 |
|
|
12,731 |
|
|
12,672 |
|
|
|
Total Mobile Solutions Services |
|
|
|
|
$ |
18,650 |
|
|
18,054 |
|
|
18,072 |
|
|
|
Nuvolo Technologies Corporation (13)(17)(19) |
Software |
Senior Secured |
April 2023 |
Interest rate PRIME + 7.25% or Floor rate of 11.50% |
$ |
15,000 |
|
|
14,867 |
|
|
14,993 |
|
|
|
Optimizely Mergerco, Inc. (17)(18) |
Software |
Senior Secured |
October 2025 |
Interest rate 6-month LIBOR + 10.00% or Floor rate of 11.00% |
$ |
50,000 |
|
|
48,561 |
|
|
48,559 |
|
|
|
Pollen, Inc. (14)(15)(17) |
Software |
Senior Secured |
November 2023 |
Interest rate PRIME + 4.75% or Floor rate of 8.00%, PIK Interest 0.50%, 4.50% Exit Fee |
$ |
7,420 |
|
|
7,366 |
|
|
7,366 |
|
|
|
Pymetrics, Inc. (14) |
Software |
Senior Secured |
October 2022 |
Interest rate PRIME + 5.50% or Floor rate of 8.75%, PIK Interest 1.75%, 4.00% Exit Fee |
$ |
9,497 |
|
|
9,409 |
|
|
9,409 |
|
|
|
Regent Education (14) |
Software |
Senior Secured |
January 2022 |
Interest rate FIXED 10.00%, PIK Interest 2.00%, 7.94% Exit Fee |
$ |
3,220 |
|
|
3,315 |
|
|
3,316 |
|
|
|
Reltio, Inc. (13)(14)(17)(19) |
Software |
Senior Secured |
July 2023 |
Interest rate PRIME + 5.70% or Floor rate of 8.95%, PIK Interest 1.70%, 4.95% Exit Fee |
$ |
10,073 |
|
|
9,928 |
|
|
10,136 |
|
|
See notes to consolidated financial statements
22
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2020
(dollars in thousands)
|
Portfolio Company |
Sub-Industry |
Type of Investment (1) |
Maturity Date |
Interest Rate and Floor (2) |
Principal Amount |
|
Cost (3) |
|
Value (4) |
|
||||
|
SingleStore, Inc. (p.k.a. memsql, Inc.) (11)(14)(17) |
Software |
Senior Secured |
May 2023 |
Interest rate PRIME + 4.70% or Floor rate of 7.95%, PIK Interest 0.75%, 3.95% Exit Fee |
$ |
5,021 |
|
$ |
5,012 |
|
$ |
5,137 |
|
|
|
Tact.ai Technologies, Inc. (11)(14) |
Software |
Senior Secured |
February 2023 |
Interest rate PRIME + 4.00% or Floor rate of 8.75%, PIK Interest 2.00%, 5.50% Exit Fee |
$ |
5,081 |
|
|
4,995 |
|
|
4,970 |
|
|
|
ThreatConnect, Inc. (13)(17)(18) |
Software |
Senior Secured |
May 2024 |
Interest rate 3-month LIBOR + 8.26% or Floor rate of 9.26% |
$ |
4,500 |
|
|
4,391 |
|
|
4,441 |
|
|
|
Udacity, Inc. (14)(17) |
Software |
Senior Secured |
September 2024 |
Interest rate PRIME + 4.50% or Floor rate of 7.75%, PIK Interest 2.00%, 3.00% Exit Fee |
$ |
35,130 |
|
|
34,700 |
|
|
34,700 |
|
|
|
Vela Trading Technologies (11)(14)(18) |
Software |
Senior Secured |
July 2022 |
Interest rate 3-month LIBOR + 12.00% or Floor rate of 11.50%, PIK Interest 2.50% |
$ |
18,131 |
|
|
17,826 |
|
|
14,505 |
|
|
|
ZeroFox, Inc. (13) |
Software |
Senior Secured |
January 2023 |
Interest rate PRIME + 4.75% or Floor rate of 10.25%, 3.00% Exit Fee |
$ |
20,000 |
|
|
20,118 |
|
|
20,118 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
668,459 |
|
|
672,062 |
|
|||||||
|
Greater than 5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Imperva, Inc. (19) |
Software |
Senior Secured |
January 2027 |
Interest rate 3-month LIBOR + 7.75% or Floor rate of 8.75% |
$ |
20,000 |
|
|
19,828 |
|
|
20,000 |
|
|
|
Subtotal: Greater than 5 Years Maturity |
|
|
19,828 |
|
|
20,000 |
|
|||||||
|
Subtotal: Software (61.60%)* |
|
|
718,796 |
|
|
722,571 |
|
|||||||
|
Sustainable and Renewable Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Solar Spectrum Holdings LLC (p.k.a. Sungevity, Inc.) (6)(8)(14) |
Sustainable and Renewable Technology |
Senior Secured |
January 2021 |
PIK Interest 10.00% |
$ |
681 |
|
|
681 |
|
|
— |
|
|
|
Subtotal: Under 1 Year Maturity |
|
|
681 |
|
|
— |
|
|||||||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impossible Foods, Inc. (12)(13) |
Sustainable and Renewable Technology |
Senior Secured |
July 2022 |
Interest rate PRIME + 3.95% or Floor rate of 8.95%, 9.00% Exit Fee |
$ |
38,868 |
|
|
42,285 |
|
|
42,548 |
|
|
|
Pineapple Energy LLC (6)(8)(9) |
Sustainable and Renewable Technology |
Senior Secured |
December 2023 |
PIK Interest 10.00% |
$ |
7,500 |
|
|
7,500 |
|
|
7,500 |
|
|
|
Subtotal: 1-5 Years Maturity |
|
|
49,785 |
|
|
50,048 |
|
|||||||
|
Subtotal: Sustainable and Renewable Technology (4.27%)* |
|
|
50,466 |
|
|
50,048 |
|
|||||||
|
Total: Debt Investments (178.54%)* |
|
$ |
2,099,425 |
|
$ |
2,094,435 |
|
|||||||
See notes to consolidated financial statements
23
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2020
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost (3) |
|
|
Value (4) |
|
|||
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Peerless Network Holdings, Inc. |
|
Communications & Networking |
|
Equity |
|
Common Stock |
|
|
3,328 |
|
|
$ |
— |
|
|
$ |
8 |
|
|
|
|
Communications & Networking |
|
Equity |
|
Preferred Series A |
|
|
1,135,000 |
|
|
|
1,230 |
|
|
|
3,800 |
|
|
Total Peerless Network Holdings, Inc. |
|
|
|
|
|
|
|
|
1,138,328 |
|
|
|
1,230 |
|
|
|
3,808 |
|
|
Subtotal: Communications & Networking (0.29%)* |
|
|
|
|
|
|
1,230 |
|
|
|
3,808 |
|
||||||
|
Consumer & Business Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intelligent Beauty, Inc. |
|
Consumer & Business Products |
|
Equity |
|
Preferred Series B |
|
|
111,156 |
|
|
|
230 |
|
|
|
743 |
|
|
Subtotal: Consumer & Business Products (0.06%)* |
|
|
|
|
|
|
230 |
|
|
|
743 |
|
||||||
|
Diversified Financial Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gibraltar Business Capital, LLC (7) |
|
Diversified Financial Services |
|
Equity |
|
Common Stock |
|
|
830,000 |
|
|
|
1,884 |
|
|
|
2,276 |
|
|
|
|
Diversified Financial Services |
|
Equity |
|
Preferred Series A |
|
|
10,602,752 |
|
|
|
26,122 |
|
|
|
31,554 |
|
|
Total Gibraltar Business Capital, LLC |
|
|
|
|
|
|
|
|
11,432,752 |
|
|
|
28,006 |
|
|
|
33,830 |
|
|
Subtotal: Diversified Financial Services (2.62%)* |
|
|
|
|
|
|
28,006 |
|
|
|
33,830 |
|
||||||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AcelRx Pharmaceuticals, Inc. (4) |
|
Drug Delivery |
|
Equity |
|
Common Stock |
|
|
176,730 |
|
|
|
1,329 |
|
|
|
219 |
|
|
BioQ Pharma Incorporated (15) |
|
Drug Delivery |
|
Equity |
|
Preferred Series D |
|
|
165,000 |
|
|
|
500 |
|
|
|
504 |
|
|
Kaleo, Inc. |
|
Drug Delivery |
|
Equity |
|
Preferred Series B |
|
|
82,500 |
|
|
|
1,007 |
|
|
|
4,117 |
|
|
Neos Therapeutics, Inc. (4)(15) |
|
Drug Delivery |
|
Equity |
|
Common Stock |
|
|
125,000 |
|
|
|
1,500 |
|
|
|
78 |
|
|
PDS Biotechnology Corporation (p.k.a. Edge Therapeutics, Inc.) (4) |
|
Drug Delivery |
|
Equity |
|
Common Stock |
|
|
2,498 |
|
|
|
309 |
|
|
|
5 |
|
|
Subtotal: Drug Delivery (0.38%)* |
|
|
|
|
|
|
4,645 |
|
|
|
4,923 |
|
||||||
|
Drug Discovery & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Albireo Pharma, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
25,000 |
|
|
|
1,000 |
|
|
|
938 |
|
|
Aveo Pharmaceuticals, Inc. (4)(15) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
190,175 |
|
|
|
1,715 |
|
|
|
1,097 |
|
|
Bicycle Therapeutics PLC (4)(5)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
98,100 |
|
|
|
1,871 |
|
|
|
1,761 |
|
|
BridgeBio Pharma LLC (4)(16) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
203,579 |
|
|
|
2,000 |
|
|
|
14,476 |
|
|
Cerecor, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
119,087 |
|
|
|
1,000 |
|
|
|
314 |
|
|
Chemocentryx, Inc. (4)(10)(15) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
17,241 |
|
|
|
1,000 |
|
|
|
1,068 |
|
|
Concert Pharmaceuticals, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
70,796 |
|
|
|
1,367 |
|
|
|
895 |
|
|
Dare Biosciences, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
13,550 |
|
|
|
1,000 |
|
|
|
18 |
|
|
Dynavax Technologies (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
20,000 |
|
|
|
550 |
|
|
|
89 |
|
|
Eidos Therapeutics, Inc. (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
15,000 |
|
|
|
255 |
|
|
|
1,974 |
|
|
Genocea Biosciences, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
27,932 |
|
|
|
2,000 |
|
|
|
67 |
|
|
Paratek Pharmaceuticals, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
76,362 |
|
|
|
2,744 |
|
|
|
478 |
|
|
Rocket Pharmaceuticals, Ltd. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
944 |
|
|
|
1,500 |
|
|
|
52 |
|
|
Savara, Inc. (4)(15) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
11,119 |
|
|
|
203 |
|
|
|
13 |
|
|
Sio Gene Therapies, Inc. (p.k.a. Axovant Gene Therapies Ltd.) (4)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
16,228 |
|
|
|
1,269 |
|
|
|
45 |
|
|
Tricida, Inc. (4)(15)(16) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
68,816 |
|
|
|
863 |
|
|
|
485 |
|
|
uniQure B.V. (4)(5)(10) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
17,175 |
|
|
|
332 |
|
|
|
621 |
|
|
Valo Health, LLC (p.k.a. Integral Health Holdings, LLC) |
|
Drug Discovery & Development |
|
Equity |
|
Preferred Series B |
|
|
510,308 |
|
|
|
3,000 |
|
|
|
3,000 |
|
|
X4 Pharmaceuticals, Inc. (4) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
83,334 |
|
|
|
641 |
|
|
|
536 |
|
|
Subtotal: Drug Discovery & Development (2.16%)* |
|
|
|
|
|
|
24,310 |
|
|
|
27,927 |
|
||||||
|
Healthcare Services, Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23andMe, Inc. |
|
Healthcare Services, Other |
|
Equity |
|
Common Stock |
|
|
360,000 |
|
|
|
5,094 |
|
|
|
7,546 |
|
|
Subtotal: Healthcare Services, Other (0.58%)* |
|
|
|
|
|
|
5,094 |
|
|
|
7,546 |
|
||||||
|
Internet Consumer & Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contentful, Inc. (5)(10) |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series C |
|
|
82 |
|
|
|
138 |
|
|
|
270 |
|
|
|
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series D |
|
|
217 |
|
|
|
500 |
|
|
|
785 |
|
|
Total Contentful, Inc. |
|
|
|
|
|
|
|
|
299 |
|
|
|
638 |
|
|
|
1,055 |
|
|
Countable Corporation (p.k.a. Brigade Group, Inc.) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
9,023 |
|
|
|
93 |
|
|
|
— |
|
|
DoorDash, Inc. (4) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
525,000 |
|
|
|
6,051 |
|
|
|
58,706 |
|
|
Fastly, Inc. (4) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
6,238 |
|
|
|
8 |
|
|
|
545 |
|
|
Lyft, Inc. (4) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
200,738 |
|
|
|
10,487 |
|
|
|
9,862 |
|
|
Nextdoor.com, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
328,190 |
|
|
|
4,854 |
|
|
|
8,994 |
|
See notes to consolidated financial statements
24
HERCULES CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2020
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost (3) |
|
|
Value (4) |
|
|||
|
OfferUp, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series A |
|
|
286,080 |
|
|
$ |
1,663 |
|
|
$ |
1,867 |
|
|
|
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series A-1 |
|
|
108,710 |
|
|
|
632 |
|
|
|
709 |
|
|
Total OfferUp, Inc. |
|
|
|
|
|
|
|
|
394,790 |
|
|
|
2,295 |
|
|
|
2,576 |
|
|
Oportun (4) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
48,365 |
|
|
|
577 |
|
|
|
937 |
|
|
Reischling Press, Inc. (p.k.a. Blurb, Inc.) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
1,163 |
|
|
|
15 |
|
|
|
— |
|
|
Tectura Corporation (7) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
414,994,863 |
|
|
|
900 |
|
|
|
— |
|
|
|
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series BB |
|
|
1,000,000 |
|
|
|
— |
|
|
|
— |
|
|
Total Tectura Corporation |
|
|
|
|
|
|
|
|
415,994,863 |
|
|
|
900 |
|
|
|
— |
|
|
Uber Technologies, Inc. (p.k.a. Postmates, Inc.) (4) |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
32,991 |
|
|
|
317 |
|
|
|
1,683 |
|
|
Subtotal: Internet Consumer & Business Services (6.53%)* |
|
|
|
|
|
|
26,235 |
|
|
|
84,358 |
|
||||||
|
Medical Devices & Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Flowonix Medical Incorporated |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series AA |
|
|
221,893 |
|
|
|
1,500 |
|
|
|
— |
|
|
Gelesis, Inc. |
|
Medical Devices & Equipment |
|
Equity |
|
Common Stock |
|
|
227,013 |
|
|
|
— |
|
|
|
626 |
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series A-1 |
|
|
191,210 |
|
|
|
425 |
|
|
|
554 |
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series A-2 |
|
|
191,626 |
|
|
|
500 |
|
|
|
540 |
|
|
Total Gelesis, Inc. |
|
|
|
|
|
|
|
|
609,849 |
|
|
|
925 |
|
|
|
1,720 |
|
|
Medrobotics Corporation (15) |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series E |
|
|
136,798 |
|
|
|
250 |
|
|
|
— |
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series F |
||||||||||||