Hercules Capital Inc Stock Price, News & Analysis

Hercules Capital, Inc. (NYSE: HTGC) announced that Fitch Ratings has reaffirmed its investment grade credit rating at BBB- with a stable outlook. This rating indicates Hercules' strong position in providing senior secured loans to venture-backed companies. Key factors for this rating include a solid credit track record, substantial asset coverage, and robust funding flexibility. The stable outlook reflects expected continued focus on quality first lien debt investments and consistent core earnings. Since its inception in December 2003, Hercules has committed over $16 billion to more than 600 companies.

Hercules Capital (NYSE: HTGC) has launched a new institutional private credit lending program through its subsidiary, Hercules Adviser LLC, to support venture and growth stage companies affected by recent market disruptions. The firm manages over $3.6 billion in assets and has committed more than $16 billion in capital to over 600 companies since 2003. This new program aims to provide essential financing to strong companies in the venture capital ecosystem, reinforcing Hercules's position as a leading non-bank lender.

The company has partnered with Davidson Kempner Capital Management as an anchor for this initiative.

Hercules Capital, Inc. (NYSE: HTGC) has announced an increase of $75 million in its committed letter of credit facility with Sumitomo Mitsui Banking Corporation (SMBC), bringing the total credit capacity to $175 million. This facility also features an uncommitted accordion feature of up to $400 million. CFO Seth Meyer emphasized that this expansion will enhance Hercules' ability to provide financing solutions to its growth and late-stage venture portfolio companies. Since its inception in December 2003, Hercules has committed over $16 billion to more than 600 companies, positioning itself as a leader in specialty finance for venture-backed firms.

Hercules Capital, Inc. (NYSE: HTGC) is actively supporting its portfolio amid the FDIC's decision to place Silicon Valley Bank under receivership. With over $16 billion committed to venture-backed companies, Hercules has earmarked $50 million for short-term financing to assist affected businesses. The company ended 2022 with assets under management exceeding $3.6 billion, showing a 29.3% year-over-year increase, alongside strong liquidity of $606 million. Hercules expects record funding performance in Q1 2023 and has maintained a diversified portfolio, with no direct exposure to SVB, ensuring minimal operational impact.

Hercules Capital, Inc. (NYSE: HTGC) announced participation in the RBC Capital Markets 2023 Financial Institutions Conference on March 7, 2023, in New York, NY. The company is a leading specialty finance provider focused on senior secured loans to high-growth, venture-backed companies across various sectors, including technology and life sciences. Since its inception in December 2003, Hercules has committed over $16 billion to more than 600 companies. Additionally, Hercules Adviser LLC manages investments for external parties. The company also has a retail bond issuance of 6.25% Notes due 2033 (NYSE: HCXY).

Hercules Capital (NYSE: HTGC) announced its financial results for Q4 and full-year 2022, highlighting record total gross debt and equity commitments of $3.12 billion and net investment income (NII) of $188.1 million, up 25.4% from the previous year. The total investment income for Q4 reached $100.2 million, increasing 38.3%. The company enhanced its cash distribution to $0.39 per share and announced a supplementary cash distribution of $0.32 for 2023. Additionally, it reported an increase in assets under management to over $3.6 billion, a 29.3% increase year-over-year.

Hercules Capital has announced a new supplemental cash distribution of $0.08 per share for the fourth quarter of 2022, in addition to the regular distribution of $0.39 per share. This distribution, totaling $0.32 per share over four quarters, will be paid from undistributed taxable income as of December 31, 2022. The record date for this payment is March 2, 2023, with payments made on March 9, 2023. Approximately 89.65% of the distributions will qualify as Qualified Interest Income exempt from U.S. withholding tax for foreign shareholders.

Hercules Capital, Inc. (NYSE: HTGC) has declared a fourth quarter 2022 cash distribution of $0.39 per share, with a record date of March 2, 2023 and a payment date of March 9, 2023. The company follows a variable distribution policy aiming to distribute approximately 90% to 100% of its taxable income each year. For the fourth quarter, 100% of distributions came from current and accumulated earnings. Notably, 89.65% of the declared distributions were categorized as Qualified Interest Income, potentially exempt from U.S. tax for foreign investors. Hercules has committed over $16 billion to more than 600 companies since its inception in December 2003.

Hercules Capital, Inc. (NYSE: HTGC) has announced its conference call for fourth quarter and full-year 2022 financial results, scheduled for February 16, 2023, at 2:00 p.m. PT. The company, a leader in providing specialty financing to innovative growth companies, will release its financial results after market close that day. Hercules has committed over $16 billion to more than 600 companies since its inception in December 2003, focusing primarily on technology and life sciences sectors. Investors can access the call via registration, with a live webcast also available on its investor relations website.