Hercules Capital Inc Stock Price, News & Analysis

Hercules Capital, the leading specialty finance provider, announced a second quarter 2022 cash distribution of $0.35 per share. The record date is August 9, 2022, with payments made on August 16, 2022. The company's distribution policy aims to allocate approximately 90% to 100% of its taxable income. For the second quarter, 87.1% of the declared distributions were from current and accumulated earnings. Hercules has committed over $14 billion to more than 570 companies since its inception in December 2003.

Hercules Capital, Inc. (NYSE: HTGC) has announced a conference call scheduled for July 28, 2022, at 2:00 p.m. PT to discuss its second quarter 2022 financial results. The results will be released after market close the same day. Hercules Capital, a leader in providing senior secured loans to venture-backed companies, has committed over $14 billion to more than 570 companies since its inception in 2003. Investors can participate through a live webcast or via telephone registration.

Hercules Capital (NYSE: HTGC) announced the appointment of DeAnne Aguirre as an independent board member, effective June 23, 2022. With over 30 years of executive experience in managing complex business units, Aguirre will join the Nominating and Corporate Governance Committee. CEO Scott Bluestein highlighted her extensive industry experience as a valuable asset for the firm, especially as it expands its market reach. Aguirre's previous roles include being Managing Partner at PricewaterhouseCoopers and serving on the board of Cisive.

Hercules Capital has successfully closed two new debt financings, raising a total of $200 million. This includes $150 million in Class A Notes, which have a 4.95% fixed interest rate and mature on July 20, 2031, and $50 million in June Notes, bearing a 6.00% interest rate and maturing on June 23, 2025. The June Notes received a BBB+ rating from Kroll Bond Rating Agency. Hercules has committed over $14 billion since 2003, focusing on senior secured venture growth loans to innovative companies.

Hercules Capital (NYSE: HTGC) has successfully increased its credit facilities, raising its MUFG facility from $400.0 million to $545.0 million and its SMBC facility from $100.0 million to $175.0 million.

The total combined credit capacity now stands at $720.0 million. This expansion is part of Hercules' strategy to support business growth and capitalize on market opportunities, according to CFO Seth Meyer.

Hercules Capital, Inc. (NYSE: HTGC) announced a BBB- investment grade credit rating from Fitch Ratings with a stable outlook. This rating acknowledges Hercules' diversified lending model and strong credit track record. Key highlights include a focus on first lien debt investments, a solid asset coverage ratio above 25%, and a flexible funding strategy. Since December 2003, Hercules has committed over $14 billion to more than 570 companies, reinforcing its position as a leading provider of venture growth loans.

Hercules Capital, Inc. (NYSE: HTGC) will conduct its 2022 Annual Meeting of Stockholders virtually on June 23, 2022, at 9:00 a.m. Pacific Time. The proxy statement was sent on May 4, 2022, to shareholders of record as of April 25, 2022. Key voting matters include the election of two directors, an advisory vote on executive compensation, and the ratification of the independent accounting firm. Hercules Capital provides senior secured venture growth loans and has committed over $14 billion to over 570 companies since its inception in December 2003.

Hercules Capital, Inc. (NYSE: HTGC) announced record financial results for Q1 2022, showcasing:
- Net Debt Portfolio Growth: $190.7 Million
- Total Gross Debt and Equity Commitments: $615.2 Million
- Total Gross Fundings: $351.6 Million
Additionally, the company reported an Undistributed Earnings Spillover of $171.7 Million, equating to $1.39 per share. This reflects Hercules’ strong position in providing financing to growth-stage companies backed by reputable venture capital firms.

Hercules Capital has announced a supplemental cash distribution of $0.15 per share, in addition to the regular quarterly distribution of $0.33 for Q1 2022. This payment is sourced from undistributed taxable income as of March 31, 2022. Noteworthy dates include May 17, 2022 for the record date and May 24, 2022 for the payment date. Hercules maintains a variable distribution policy aiming for 90% to 100% of taxable income, allowing for potential supplemental payments based on performance.