PALO ALTO, Calif.– Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), today announced that it has closed an underwritten public offering of $350.0 million in aggregate principal amount of 3.375% notes due January 2027 (the “Notes”).
The Notes are unsecured and bear interest at a rate of 3.375% per year, payable semiannually and will mature on January 20, 2027 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 repay the Company’s 4.375% convertible notes due 2022 (the “2022 Convertible Notes”), (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, RBC Capital Markets, LLC, and SMBC Nikko Securities America, Inc. acted as joint book-running managers of this offering. HSBC Securities (USA) Inc. and Zions Direct, Inc. acted as co-managers.
