Hercules Capital Inc Stock Price, News & Analysis

Hercules Capital (NYSE:HTGC), the largest specialty finance provider for venture and growth companies, announced that its wholly-owned investment adviser, Hercules Adviser LLC, has completed the first close of its fourth institutional private credit fund, Hercules Growth Lending Fund IV LP.

The launch marks Hercules Adviser's fourth fund in five years, bringing its total managed funds to four with approximately $1.6 billion in committed debt and equity capital. Together, Hercules Capital and Hercules Adviser manage over $5.0 billion in assets as of March 31, 2025, having committed more than $22.0 billion to over 680 portfolio companies since inception.

[ "Launch of fourth institutional private credit fund demonstrates strong market position and growth", "Hercules Adviser now manages approximately $1.6 billion in committed debt and equity capital", "Combined assets under management exceed $5.0 billion", "Strong track record with over $22.0 billion committed to more than 680 portfolio companies" ]

Hercules Capital (NYSE: HTGC), the largest specialty financing provider to innovative venture and growth companies, has scheduled its second quarter 2025 financial results announcement for July 31, 2025.

The company will release its Q2 2025 results after market close, followed by a conference call at 2:00 p.m. PT (5:00 p.m. ET). Investors can join via phone or webcast through the company's investor relations website at investor.htgc.com. Domestic callers should dial +1 (800) 225-9448, while international callers can use +1 (203) 518-9708.

Hercules Capital (NYSE:HTGC), the largest specialty financing provider to innovative venture and growth stage companies, announced that Fitch Ratings has affirmed its BBB- investment grade corporate and unsecured credit rating with a stable outlook.

The rating affirmation reflects several key strengths of Hercules Capital, including its first-lien focused investment portfolio, proven credit track record, broad industry relationships, consistent operating performance, and strong funding flexibility. The company's above-average asset coverage cushion and experienced management team were also cited as contributing factors.

Hercules Capital (NYSE: HTGC) has successfully closed an upsized public offering of $350.0 million in 6.000% unsecured notes due June 2030. The notes received initial ratings of Baa3 from Moody's and BBB- from Fitch. The notes will pay interest semiannually and can be redeemed at the company's discretion with a potential make-whole premium. The proceeds will be used to repay existing secured debt. Goldman Sachs and SMBC Nikko Securities led the offering as joint book-running managers, with several other firms acting as co-managers.

Hercules Capital (NYSE: HTGC) has priced an upsized public offering of $350.0 million in 6.000% notes due June 2030. The unsecured notes will pay interest semiannually and mature on June 16, 2030, with an option for early redemption at par plus a potential make-whole premium. The offering is expected to close on June 16, 2025, with proceeds intended to repay existing secured debt. Goldman Sachs & Co. LLC and SMBC Nikko Securities America are serving as joint book-running managers, with several other firms acting as co-managers. The notes are being offered through a prospectus supplement and accompanying prospectus, with proper regulatory filings made with the SEC.

Hercules Capital (NYSE: HTGC) has announced its 2025 Annual Meeting of Stockholders, scheduled for Wednesday, June 18, 2025, at 9:00 a.m. Eastern Time. The meeting will be held virtually via the internet. Stockholders of record as of April 17, 2025, will vote on four key matters: election of three directors, advisory vote on executive compensation, authorization for below-NAV share issuance, and ratification of the independent public accounting firm. The proxy statement was filed on April 24, 2025, and has been mailed to eligible stockholders.

Hercules Capital (NYSE: HTGC) reported strong Q1 2025 financial results, with total gross debt and equity commitments of $1.02 billion and gross fundings of $539.1 million. The company achieved total investment income of $119.5 million and net investment income (NII) of $77.5 million ($0.45 per share), providing 113% coverage of base cash distribution. Notable achievements include a credit rating upgrade to BBB (high) from Morningstar DBRS and completion of a $287.5 million convertible notes offering. The company maintains a conservative balance sheet with net GAAP leverage of 97.4% and manages over $5.0 billion in assets, representing an 11% year-over-year increase. Hercules reported substantial liquidity of over $1.0 billion and an undistributed earnings spillover of $159.6 million ($0.92 per share).

Hercules Capital (NYSE: HTGC) has announced a total cash distribution of $0.47 per share for Q1 2025, consisting of a $0.40 base distribution and a $0.07 supplemental distribution.

Key distribution dates include:

• Record Date: May 13, 2025
• Payment Date: May 20, 2025

The company maintains a variable distribution policy targeting 90-100% distribution of quarterly taxable income. For Q1 2025, 100% of distributions came from current earnings and profits. Additionally, 79.97% of distributions qualify as Qualified Interest Income (QII), which may be exempt from U.S. withholding tax for foreign accounts.

As the largest specialty finance provider to venture-backed companies, Hercules Capital's Board can opt to pay supplemental distributions to distribute annual taxable income or carry it forward for future payments.