Hercules Capital Inc Stock Price, News & Analysis

Hercules Capital, Inc. (NYSE: HTGC) announced its participation in the Piper Sandler Western Financial Services Conference on March 8, 2022, in San Diego, CA. The company is a leading specialty financing provider focused on delivering senior secured venture growth loans to innovative, venture capital-backed firms. Since inception, Hercules has committed over $13 billion to more than 560 companies. Hercules also operates an asset management business through Hercules Adviser LLC, which manages investments for external parties.

Hercules Capital reported record financial results for the fourth quarter and full-year 2021, announcing total gross debt and equity commitments of $2.64 billion, up 122.1% year-over-year. Q4 gross fundings reached $503.3 million, while net investment income for Q4 was $0.35 per share, offering 106% coverage of base distributions. The company declared a new $0.60 supplemental distribution, payable quarterly starting March 2022. Additionally, undistributed earnings spillover amounted to $192.1 million.

Hercules Capital has declared a new supplemental cash distribution of $0.60 per share, to be distributed over four quarters, starting with $0.15 for Q4 2021. This is an increase from the previously declared $0.07 per share. The record date for this distribution is March 9, 2022, and the payment date is March 16, 2022. Hercules aims to distribute 90%-100% of its taxable income annually, benefiting shareholders through regular and supplemental distributions.

Hercules Capital (NYSE: HTGC) announced a cash distribution of $0.33 per share for the fourth quarter of 2021, with a record date of March 9, 2022 and a payment date of March 16, 2022. The company maintains a variable distribution policy aimed at distributing 90% to 100% of its taxable income annually. For Q4 2021, 88.3% of declared distributions were classified as Qualified Interest Income (QII), potentially exempt from U.S. withholding tax for foreign shareholders. Hercules has committed over $13 billion to more than 540 companies since its inception in 2003.

Hercules Capital (NYSE: HTGC) has scheduled its fourth quarter and full-year 2021 financial results conference call for February 22, 2022, at 2:00 p.m. PT. Financial results will be released after market close on the same day. Investors can join the call by dialing (877) 304-8957, with access to a taped replay available for seven days. Hercules Capital, the largest specialty finance company providing venture growth loans, has committed over $13 billion to more than 540 companies since its inception in December 2003. The company also manages investments through Hercules Adviser LLC.

Hercules Capital (NYSE: HTGC) has announced key internal promotions and a new addition to its executive management team. Christian Follmann has been promoted to Chief Operating Officer, Charlie Vandis to Chief Credit Officer, and Kiersten Zaza Botelho has joined as General Counsel and Chief Compliance Officer. The CEO, Scott Bluestein, emphasized the importance of these moves to enhance the company's capabilities and market position in venture and growth stage lending. Hercules has committed over $13 billion to more than 540 companies since its inception in 2003.

Hercules Capital (NYSE: HTGC) has successfully closed an underwritten public offering of $350 million in 3.375% notes due January 2027. Proceeds will be used to repay existing convertible notes, support investments, and for general corporate purposes. Moody’s assigned a Baa3 rating while Kroll rated it BBB+. The notes are unsecured, pay interest semiannually, and may be redeemed early at par plus a potential premium.

Hercules Capital has priced an underwritten public offering of $350 million in 3.375% notes maturing on January 20, 2027. The offering is subject to customary conditions and expected to close on January 20, 2022. Proceeds will be used to repay 4.375% convertible notes due 2022, fund investments, and for general corporate purposes. The company has committed over $13 billion since its inception in December 2003, focusing on growth loans for venture-backed companies.

NorthSea Therapeutics B.V. has successfully closed a USD 80 million Series C financing round, co-led by Ysios Capital and Forbion Growth. New investors include Hercules Capital. The funds will enhance the development of their pipeline focused on treating non-alcoholic steatohepatitis (NASH) and other metabolic diseases. The lead product, Icosabutate, has shown promising results in ongoing clinical trials, with plans to advance into phase 3 next year.