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 (NYSE:HCXY) was named 2025 BDC Manager of the Year - Americas by Private Debt Investor. The award recognizes Hercules’ strong 2025 performance across assets under management, new debt and equity commitments, gross fundings, net debt portfolio growth, and investment income.
Management cited record highs and consistent execution amid tight capital markets and slower fundraising.
Hercules Capital (NYSE: HTGC) reported record full-year 2025 results, with $3.92 billion of total new debt and equity commitments (+45.7% YoY) and $2.28 billion of total fundings (+25.9% YoY).
Other highlights include record full-year investment income of $532.5 million, net investment income of $341.7 million, Q4 commitments of $1.06 billion (+70.8% YoY), available liquidity of over $1.0 billion, undistributed earnings of $149.9 million (≈$0.82 per ending share), and approximately $5.7 billion of assets under management (+20.5% YoY). The company announced a new supplemental 2026 cash distribution of $0.28 per share.
Hercules Capital (NYSE: HTGC) closed an underwritten public offering of $300.0 million aggregate principal amount of unsecured 5.350% notes due February 10, 2029. The Notes pay interest semiannually and are redeemable at the company’s option at par plus a make-whole premium, if applicable.
The company assigned initial ratings of Baa2 by Moody’s and BBB- by Fitch. Net proceeds will fund investments, repay secured indebtedness and support general corporate purposes. Joint book-running managers included Goldman Sachs, SMBC Nikko and MUFG Securities.
Hercules Capital (HCXY) declared a new supplemental cash distribution totaling $0.28 per share, to be paid equally over four quarters beginning with $0.07 per share for Q4 2025. That Q4 supplemental payment has a record date Feb 25, 2026 and payment date March 4, 2026.
The $0.07 supplemental is in addition to the regular Q4 2025 quarterly distribution of $0.40 per share and will be paid from undistributed taxable income as of December 31, 2025. The company reports 78.54% Qualified Interest Income (QII) for 2025 distributions.
Hercules Capital (NYSE: HCXY) declared a $0.47 per share total cash distribution for Q4 2025, comprising a $0.40 base and a $0.07 supplemental.
Record date is February 25, 2026 and payment date is March 4, 2026. The company said 100% of Q4 distributions derived from current and accumulated earnings and profits, and QII for 2025 distributions is 78.54%.
Hercules Capital (NYSE: HTGC) priced an underwritten public offering of $300.0 million aggregate principal amount of 5.350% unsecured notes due February 10, 2029.
The notes bear interest at 5.350% payable semiannually, are expected to settle on February 10, 2026, and proceeds are planned to fund investments, repay secured indebtedness and for general corporate purposes.
Hercules Capital (NYSE: HCXY) scheduled its fourth-quarter and full-year 2025 results release and conference call for Thursday, February 12, 2026. Results will be released after market close and a conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET.
The live webcast and archived replay will be available on the Investor Resources page at investor.htgc.com. Domestic and international dial‑in numbers are provided, and callers should reference conference ID HTGCQ425.
Savara (Nasdaq:SVRA) amended its loan and security agreement with Hercules Capital (NYSE:HTGC) to make up to $75 million of additional debt available upon U.S. FDA approval of MOLBREEVI, an investigational therapy for autoimmune pulmonary alveolar proteinosis.
Combined with a previously announced $75 million royalty financing, the company would have access to approximately $150 million of non-dilutive capital to support a potential MOLBREEVI launch. Savara resubmitted the MOLBREEVI BLA in December 2025, is targeting potential approval in 3Q 2026 if Priority Review is granted, and expects to file EU/UK MAA by end of 1Q 2026.
enGene (Nasdaq: ENGN) amended its loan agreement with Hercules Capital to provide up to $125 million of debt financing, including $25 million funded at close and up to $100 million in additional tranches. The facility is non-dilutive, supports a planned BLA filing for detalimogene in H2 2026 and a potential commercial launch in 2027, and requires repayment of principal and accrued interest on or before January 1, 2030. Three $75 million of milestone-linked tranches and a discretionary final $25 million tranche complete the arrangement.
Compass Pathways (Nasdaq: CMPS) announced the U.S. FDA has accepted its IND for COMP360 in PTSD, enabling initiation of a Phase 2b/3 (COMP202) trial with a 12-week blinded Part A and 40-week open-label Part B; the primary endpoint is change in CAPS-5 at Week 8. Compass said prior Phase 2 open-label PTSD data showed rapid, durable symptom improvement (published September 2025). The company also reviewed commercial readiness for COMP360 in TRD and disclosed planned data timing: second half of Q1 2026 for combined COMP006/COMP005 readouts and COMP006 Part B 26-week data expected early Q3 2026. Financially, Compass amended a Hercules loan to up to $150M with $50M drawn, extended interest-only through at least January 5, 2029, and extended maturity to January 5, 2031.