Hercules Capital, Inc. provides senior secured venture growth loans to high-growth, venture capital-backed and institutional-backed companies, with an emphasis on technology and life sciences industries. Its updates commonly address debt and equity commitments, loan fundings, portfolio-company financings, net investment income, net asset value, leverage, available liquidity and recurring cash distributions.
Hercules also reports developments involving credit ratings, annual meeting and proxy matters, executive leadership, and its asset management activity through Hercules Adviser LLC and related Adviser Funds. The company’s common stock trades on the NYSE under HTGC, and its retail notes trade under HCXY.
Hercules Capital (HTGC) announced that Fitch affirmed its investment-grade corporate and unsecured credit rating at BBB-, with a stable outlook. Fitch also affirmed the company’s secured debt rating at BBB. The ratings reflect its first-lien investment focus, credit track record, consistent operating performance and funding flexibility.
Hercules Capital (NYSE: HTGC) will release its third quarter 2026 financial results after market close on October 29, 2026.
A conference call will follow at 2:00 p.m. PT (5:00 p.m. ET), with telephone access and a live webcast. An archived webcast replay will be available through the company's Investor Relations website.
Hercules Capital (NYSE: HTGC) closed an upsized underwritten public offering of $400.0 million in unsecured notes due in October 2029.
The notes pay 6.700% annual interest semiannually and mature October 8, 2029. Hercules expects to use net proceeds to repay outstanding unsecured and/or secured debt, fund investments and support general corporate purposes. Initial ratings were Baa2 from Moody’s and BBB- from Fitch.
Rocket Pharmaceuticals (RCKT) entered a credit facility agreement with Hercules Capital (HTGC) for up to $150 million to support cardiovascular development. Rocket received $35 million at closing and may draw another $35 million during specified periods, subject to agreement terms. Another $30 million depends on a Danon clinical milestone; $50 million requires Hercules’ investment committee approval.
The facility has an initial 30-month interest-only period, a 48-month maturity and milestone-dependent extensions. It also includes warrants to purchase Rocket common stock. Rocket expects its existing resources plus the initial funding to support operations into the third quarter of 2028. Further borrowing could extend its runway into 2029, depending on borrowing conditions, draw timing and amounts, and operating expenditures.
Hercules Capital (NYSE: HTGC) priced an underwritten public offering of $400.0 million in unsecured notes to finance its disclosed funding needs. The notes bear 6.70% annual interest, payable semiannually, and mature on October 8, 2029. Delivery and payment are expected on October 8, 2026, subject to customary closing conditions.
The company expects to use net proceeds to repay outstanding unsecured and/or secured indebtedness under existing financing arrangements, fund investments and support general corporate purposes. Hercules may redeem the notes in whole or in part at its option at par, plus a make-whole premium, if applicable—a payment associated with early redemption.
NorthStar Medical Technologies secured a growth-capital facility of up to $185 million from Hercules Capital (HTGC).
The multi-year facility includes $100 million upfront to support expanded isotope production and clinical and commercial drug manufacturing. NorthStar began commercial-scale production of no-carrier-added actinium-225 in January 2026, and the FDA has since accepted its Drug Master File for the isotope. NorthStar plans to transition to a high-capacity production line later this year. It also expanded its partnership with Convergent to support late-stage clinical studies and commercial demand.
Hercules Capital (HCXY, HTGC) appointed Alfred B. Fichera as an independent member of its board of directors, effective September 17, 2026.
Fichera will serve on the company’s Audit Committee. He brings more than 40 years of audit and accounting experience in financial services and asset management, including senior leadership roles at KPMG from 1982 to 2019 and current work as an expert witness and non-profit board member.
Hercules Capital (HTGC) and Hercules Adviser report that Hercules Adviser has surpassed $2.3 billion in investable capital after closing new equity commitments and a rated securitization.
The new capital is raised across two institutional private credit vehicles, Hercules Evergreen Fund, a perpetual open-end fund, and Hercules Growth Lending IV, a closed-end limited partnership. Together with Hercules Capital, the firm now manages approximately $6.1 billion of assets and, as of June 30, 2026, has committed over $28.0 billion to more than 700 portfolio companies in technology and life sciences.
Hercules Capital (NYSE: HTGC) announced that Kroll Bond Rating Agency (KBRA) has affirmed the company’s investment grade corporate and credit rating at BBB+ with a stable outlook. KBRA’s assessment cites Hercules’ diversified portfolio focused on senior secured first lien venture debt, over 23 years of operating history, appropriate leverage metrics, robust risk management, experienced investment team, strong capital markets access, diversified funding mix, and a high proportion of senior unsecured debt that supports noteholder protection and financial flexibility.
Hercules Capital (NYSE: HCXY, HTGC) reported record first-half 2026 activity, including total new debt and equity commitments of $2.74 billion, up 35.6% year-over-year, and total fundings of $1.35 billion, up 8.5%. First-half 2026 total investment income reached $290.7 million, an increase of 13.1%, while net investment income (NII) was $181.0 million, up 8.9%.
For Q2 2026, Hercules posted record total investment income of $149.1 million, up 8.5% year-over-year, and record NII of $92.9 million, up 4.7%, or $0.50 per share, providing 125% coverage of the base cash distribution. The company reported net GAAP leverage of 101.8% and net regulatory leverage of 86.4%, over $1.0 billion of available liquidity including adviser-managed funds, undistributed earnings spillover of $171.7 million (or $0.92 per ending share), and approximately $6.1 billion of assets under management, up 14.4% year-over-year. Hercules scheduled its Q2 2026 earnings conference call for July 30, 2026.