Hercules Capital Inc Stock Price, News & Analysis

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.

Provention Bio, Inc. (Nasdaq: PRVB) has announced the closing of a $40 million second tranche under a $125 million term loan facility with Hercules Capital (NYSE: HTGC). This funding aims to support the commercial launch of TZIELD^®, a treatment for Stage 2 type 1 diabetes. CEO Ashleigh Palmer highlighted the positive reception of TZIELD^® from patients and prescribers, noting favorable coverage policies from major payers. The loan facility will be drawn in multiple tranches, with further funding contingent upon milestone achievements. The revised loan terms will lower the interest rate, enhancing financial flexibility.

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.

Hercules Capital (NYSE: HTGC) announced its participation in the KBW BDC Midtown event on December 14, 2022, in New York, NY. The company, a leading specialty finance provider, focuses on senior secured venture growth loans for high-growth, venture capital-backed firms across technology, life sciences, and renewable sectors. Since December 2003, Hercules has committed over $16 billion to more than 600 companies, positioning itself as a crucial lender for entrepreneurs. Additionally, Hercules has a retail bond issuance (NYSE: HCXY).

On November 16, 2022, Silicon Valley Bank and Hercules Capital announced a $300 million credit facility for Oak Street Health (NYSE: OSH). This financing aims to support Oak Street's operational and strategic initiatives over several years. The partnership reflects strong relationships built over the years. Oak Street Health focuses on value-based primary care for Medicare-eligible patients, particularly those in underserved communities. The collaboration underlines both banks' commitment to healthcare innovation and Oak Street's growth.

Hercules Capital, Inc. (NYSE: HTGC) has announced the participation of its executive management team in several upcoming financial community events. These include the Jefferies BDC Summit and FitchRatings BDC Conference on November 16, 2022, followed by the JMP Securities Financial Services and Real Estate Conference on November 17, 2022. Hercules Capital, the largest specialty financing provider, has committed over $16 billion to more than 600 companies since its inception in December 2003, focusing on senior secured venture growth loans for innovative sectors.

Hercules Capital, Inc. (NYSE: HTGC) reported a record total gross debt and equity commitments of $2.48 Billion for Q3 2022, with gross fundings reaching $1.10 Billion. The company saw a net debt portfolio growth of $465.1 Million and total investment income increased by 20% year-over-year to $84.2 million. Hercules also announced a net investment income of $0.39 per share, covering the increased base distribution payout of $0.36.

Undistributed earnings stand at $134.1 Million.

Bright Machines has secured $132M in its latest funding round, comprised of $100M in equity led by Eclipse Ventures and $32M in debt from Silicon Valley Bank (NASDAQ: SIVB) and Hercules Capital (NYSE: HTGC). This funding aims to enhance the company's software-defined manufacturing capabilities, expand into new industry verticals, and develop additional service offerings. With this round, Bright Machines' total funding since 2018 reaches $330M, positioning it for continued growth in the $250B industrial automation market.

Tricida, Inc. (NASDAQ: TCDA) announced a $125 million debt facility with Hercules Capital, Inc. (NYSE: HTGC). Of this, $100 million is available for Tricida upon meeting certain milestones. This financing aims to support the upcoming NDA resubmission and FDA approval for their drug, veverimer, designed to treat chronic kidney disease (CKD). The loan allows for interest-only payments until August 2024, with possible extensions based on FDA decisions. This partnership is intended to provide non-dilutive capital for Tricida's ongoing development of veverimer.