Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

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Subsequent Events
 6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Dividend Distribution Declaration
On July 25, 2024, the Board declared a cash distribution of $0.40 per share to be paid on August 20, 2024 to stockholders of record as of August 13, 2024. In addition to the cash distribution, and as part of the supplemental cash distribution of $0.32 per share to be paid in four quarterly distributions of $0.08 per share, the Board declared a supplemental cash distribution of $0.08 per share to be paid on August 20, 2024 to stockholders of record as of August 13, 2024. Including the $0.08 per share supplemental cash distributions paid to stockholders of record as of March 6, 2024 and May 14, 2024, the Board has declared a total of $0.24 per share of the $0.32 per share of supplemental cash distribution declared on February 8, 2024.
SBIC Licensing
On July 9, 2024, SBIC V received its license to operate as an SBIC. This is Hercules' fourth SBIC license, through which the Company has access to $175.0 million of SBA debentures, subject to meeting certain conditions. The license has a 10-year term and SBA debentures bear fixed interest based on the treasury rate plus a spread applicable to the period the debentures are drawn. As of the latest debenture pooling date in March 2024, SBA debentures were issued with an interest rate of approximately 5.164%. The actual rates may vary depending on the timing of drawdown and pooling period.
July 2024 Notes Redemption
On July 16, 2024, the Company fully repaid the aggregate outstanding $105.0 million principal and $2.5 million of accrued interest pursuant to the terms of the July 2024 Notes.