PALO ALTO, Calif.– Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), today announced that it has closed an underwritten public offering of $325.0 million in aggregate principal amount of 2.625% notes due 2026 (the “Notes”).
The Notes are unsecured and bear interest at a rate of 2.625% per year, payable semiannually and will mature on September 16, 2026 and may be redeemed in whole or in part at any time or from time to time at the Company’s option at par, plus a “make whole” premium, if applicable.
The Company expects to use the net proceeds from this offering (i) to repurchase or redeem all or a portion of the Company’s asset-backed notes (the “Asset-Backed Notes,” comprising the Company’s 4.605% asset-backed notes due 2027 and 4.703% asset-backed notes due 2028), (ii) to fund investments in debt and equity securities in accordance with the Company’s investment objective, and (iii) for other general corporate purposes.
Goldman Sachs & Co. LLC, SMBC Nikko Securities America, Inc., MUFG Securities Americas Inc. and RBC Capital Markets, LLC acted as joint book-running managers of this offering.
This press release does not constitute a notice of redemption with respect to any of the Asset-Backed Notes.
