Hercules Capital Inc Stock Price, News & Analysis

Thumbtack, a technology company in the home services industry, has secured $75 million in financing from Silicon Valley Bank and Hercules Capital, Inc. (NYSE: HTGC). This comes after Thumbtack's best fiscal year, surpassing $300 million in revenue and achieving EBITDA profitability in 2023. The company's home segment revenue increased 30% year-over-year, with gross profit margins exceeding 90%.

Thumbtack recently launched its biggest product update, introducing 30 new features in its app. The update provides personalized recommendations for home projects and enables instant booking across over 100 categories. This financing aims to strengthen Thumbtack's position as it works to bring the $600 billion home services industry online, which is currently less than 10% digitized.

Hercules Capital (NYSE: HTGC) has declared a total cash distribution of $0.48 per share for the second quarter of 2024. This distribution comprises a $0.40 per share base distribution and an $0.08 per share supplemental distribution. The record date is set for August 13, 2024, with the payment date on August 20, 2024.

Hercules maintains a variable distribution policy, aiming to distribute 90% to 100% of its taxable quarterly income. The Board may also pay additional supplemental distributions to distribute approximately all annual taxable income in the year earned. For the quarter ended June 30, 2024, 100% of the distributions were derived from current and accumulated earnings and profits. Additionally, 80.74% of the distributions qualify as Qualified Interest Income (QII), which may be exempt from U.S. withholding tax on foreign accounts.

Hercules Capital (NYSE: HTGC), the largest specialty financing provider for innovative venture, growth, and established stage companies, has announced its second quarter 2024 financial results conference call. The call is scheduled for Thursday, August 1, 2024, at 2:00 p.m. PT (5:00 p.m. ET), with financial results to be released after market close on the same day.

Participants can register for telephone access, and a live webcast will be available on the investor relations section of the company's website at investor.htgc.com. An archived webcast replay will be accessible for at least 30 days following the conference call.

Pindrop, a leader in voice authentication and security, has secured $100 million in debt financing from Hercules Capital, Inc. (NYSE: HTGC). This funding will accelerate the development of Pindrop's audio, voice, and AI technologies to combat rising cyber threats, particularly in contact centers where fraud has increased by 60% in the last two years.

Pindrop's technologies have already analyzed 5.3 billion calls, prevented $2 billion in fraud losses, and detected 104 million spoof calls. The company recently launched Pindrop® Pulse, an audio deepfake detection solution, and released its 2024 Voice Intelligence and Security Report. Pindrop's CEO has participated in various government forums on AI and cybersecurity, highlighting the company's role in addressing emerging threats like deepfakes in elections and financial services.

Hercules Capital (NYSE: HTGC) has received approval from the U.S. Small Business Administration (SBA) for its fourth Small Business Investment Company (SBIC) license. This approval grants Hercules access to an additional $175.0 million in long-term debentures, increasing its total borrowing capacity through the SBIC program to $350.0 million.

The SBIC program has been a important component of Hercules' funding strategy since 2006. This new license will enable the company to continue supporting innovative technology and life sciences companies seeking growth capital while maintaining a diversified balance sheet and favorable cost of capital. Hercules has also received exemptive relief from the SEC, allowing it to exclude SBIC leverage from applicable asset coverage limits.

NeueHealth has secured a term loan facility for up to $150 million with Hercules Capital, significantly strengthening its balance sheet. This financing aims to advance NeueHealth's differentiated care model and support the company's strategic priorities in 2024 and beyond. The loan will help NeueHealth deliver value-driven, consumer-centric care across the ACA Marketplace, Medicare, and Medicaid. Both companies expressed optimism about the partnership's potential to drive value for payors, providers, and consumers.

Harness has announced a $150 million financing round with investments from Silicon Valley Bank and Hercules Capital. This funding will support expanding the Harness platform, adding new modules, integrating generative AI, and investing in go-to-market strategies. The company, which has seen its Annual Recurring Revenue (ARR) grow from $1 million to over $100 million in five years, aims to enhance developer productivity and reduce non-code-producing work.

Key milestones include 44 million code deployments in 2023, the introduction of generative AI assistant AIDATM, launch of four new product modules, and the addition of enterprise customers like Nike and NetApp. The financing will enable Harness to continue innovating and expanding its market-leading software delivery platform.

Hercules Capital, Inc. (NYSE: HTGC) has announced that its 2024 Annual Meeting of Stockholders will be held virtually on June 20, 2024. The meeting will cover important matters such as the election of directors, executive compensation, authorization to sell shares below NAV, and ratification of the accounting firm.

Electric Hydrogen secured a $100M credit facility from HSBC, J.P. Morgan, Stifel Bank, and Hercules Capital to support the manufacturing and deployment of their 100MW electrolyzer plants for the production of green hydrogen. The funding will enable Electric Hydrogen to advance its mission of decarbonizing critical industries such as steel, fertilizer, shipping, and aviation.