Hercules Capital Inc Stock Price, News & Analysis

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.

Hercules Capital has declared a first quarter 2022 cash distribution of $0.33 per share, with record and payment dates on May 17 and May 24, respectively. The company maintains a variable distribution policy aiming to distribute 90%-100% of its taxable income. For the first quarter, all distributions were derived from current and accumulated earnings. Additionally, 100% of this quarter's distributions qualify as exempt from U.S. withholding tax for non-U.S. shareholders. Hercules has committed over $13 billion to more than 560 companies since 2003.

Convoy has successfully raised $260 million in funding, elevating its valuation to $3.8 billion. The raise includes a $160 million Series E preferred equity round led by Baillie Gifford and a $100 million venture-debt investment from Hercules Capital (HTGC). Additionally, Convoy secured a $150 million line of credit from J.P. Morgan. This capital will support the development of technologies designed to enhance efficiency in the rapidly growing $800 billion trucking industry, amidst rising customer demand.

Hercules Capital, Inc. (NYSE: HTGC) announced that DBRS Morningstar has reaffirmed its BBB investment grade corporate rating, revising the trend from stable to positive. This change reflects Hercules' strong scale, moderate financial leverage, and effective risk management. The positive trend indicates resilience through business cycles and favorable positioning in a rising interest rate environment. Hercules has committed over $13 billion to more than 560 companies since inception in December 2003, highlighting its commitment to venture growth financing.