Welcome to our dedicated page for Hercules Capital news (Ticker: HCXY), a resource for investors and traders seeking the latest updates and insights on Hercules Capital stock.
Hercules Capital, Inc. 6.25% Notes due 2033 (NYSE: HCXY) are exchange-listed debt securities of Hercules Capital, Inc., a specialty finance company focused on senior secured venture growth loans. The news flow associated with HCXY is closely tied to Hercules Capital’s broader corporate announcements, earnings results, capital markets activity, and rating updates, because the notes reflect the credit profile and funding strategy of the issuer.
On this page, readers can follow news items where Hercules Capital references its 6.25% Notes due 2033 alongside its common stock. The company’s press releases often discuss quarterly financial results, cash distributions on its common stock, leverage and liquidity metrics, and changes in investment grade credit ratings from agencies such as Moody’s Investors Service and Kroll Bond Rating Agency. These developments are relevant for HCXY holders because they provide insight into the financial condition and risk profile of the issuer behind the notes.
Hercules Capital’s news also covers topics such as the launch and growth of adviser-managed private credit funds through its wholly owned subsidiary Hercules Adviser LLC, assets under management across the Hercules platform, and its role as a provider of senior secured venture growth loans to high-growth, innovative venture capital-backed companies in technology and life sciences industries. While these announcements are not specific to HCXY alone, they help frame the operating environment and capital structure in which the 6.25% Notes due 2033 exist.
Investors and researchers can use the HCXY news feed to monitor how Hercules Capital describes its business performance, capital raising activities, and rating actions over time, all of which can inform views on the issuer’s ability to meet its obligations under the 6.25% Notes due 2033.
Hercules Capital (NYSE: HTGC) reported strong financial results for Q2 2024. The company achieved record total investment income of $125.0 million, up 7.5% year-over-year, and net investment income (NII) of $82.4 million, or $0.51 per share, an 8.8% increase year-over-year. Q2 saw total gross debt and equity commitments of $686.5 million and record gross fundings of $461.5 million, up 28.7% year-over-year. Hercules maintained a conservative balance sheet with net GAAP leverage of 93.3% and net regulatory leverage of 83.9%. The company's assets under management grew to approximately $4.6 billion, a 14.7% increase year-over-year. Hercules also reported an undistributed earnings spillover of $145.0 million, or $0.89 per ending shares outstanding.
Hercules Capital (NYSE: HTGC) has declared a total cash distribution of $0.48 per share for the second quarter of 2024. This distribution comprises a $0.40 per share base distribution and an $0.08 per share supplemental distribution. The record date is set for August 13, 2024, with the payment date on August 20, 2024.
Hercules maintains a variable distribution policy, aiming to distribute 90% to 100% of its taxable quarterly income. The Board may also pay additional supplemental distributions to distribute approximately all annual taxable income in the year earned. For the quarter ended June 30, 2024, 100% of the distributions were derived from current and accumulated earnings and profits. Additionally, 80.74% of the distributions qualify as Qualified Interest Income (QII), which may be exempt from U.S. withholding tax on foreign accounts.
Hercules Capital (NYSE: HTGC), the largest specialty financing provider for innovative venture, growth, and established stage companies, has announced its second quarter 2024 financial results conference call. The call is scheduled for Thursday, August 1, 2024, at 2:00 p.m. PT (5:00 p.m. ET), with financial results to be released after market close on the same day.
Participants can register for telephone access, and a live webcast will be available on the investor relations section of the company's website at investor.htgc.com. An archived webcast replay will be accessible for at least 30 days following the conference call.
Hercules Capital (NYSE: HTGC) has received approval from the U.S. Small Business Administration (SBA) for its fourth Small Business Investment Company (SBIC) license. This approval grants Hercules access to an additional $175.0 million in long-term debentures, increasing its total borrowing capacity through the SBIC program to $350.0 million.
The SBIC program has been a important component of Hercules' funding strategy since 2006. This new license will enable the company to continue supporting innovative technology and life sciences companies seeking growth capital while maintaining a diversified balance sheet and favorable cost of capital. Hercules has also received exemptive relief from the SEC, allowing it to exclude SBIC leverage from applicable asset coverage limits.
Hercules Capital, Inc. (NYSE: HTGC) has announced that its 2024 Annual Meeting of Stockholders will be held virtually on June 20, 2024. The meeting will cover important matters such as the election of directors, executive compensation, authorization to sell shares below NAV, and ratification of the accounting firm.
Hercules Capital, Inc. (NYSE: HTGC) announced their participation in the Wells Fargo 2024 Financial Services Investor Conference. The event will provide an opportunity for the financial community to engage with the company's executive management team.
Hercules Capital, Inc. (NYSE: HTGC) reported record Q1 2024 financial results with total gross debt and equity commitments up by 81.7%, gross fundings up by 27.1%, total investment income up by 15.7%, net investment income up by 20.9%, NII providing 125% coverage of base cash distribution, undistributed earnings spillover of $142.7 million, approximately $4.5 billion of assets under management, and conservative balance sheet management.
Hercules Capital, Inc. (NYSE: HTGC) declared a total cash distribution of $0.48 per share for the first quarter of 2024, consisting of a $0.40 per share base distribution and an $0.08 per share supplemental distribution. The company aims to distribute 90% to 100% of its taxable quarterly income or potential annual income. The distributions declared in the first quarter of 2024 were derived from the company's current and accumulated earnings and profits. Hercules also designated 83.85% of Qualified Interest Income for the first quarter of 2024 as exempt from U.S. withholding tax for non-U.S. shareholders.
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