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Share Name | Share Symbol | Market | Type |
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Hercules Capital 6.25% Notes Due 2024 (delisted) | NYSE:HTGX | NYSE | Common Stock |
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From Jun 2019 to Jun 2024
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the leading specialty financing provider to innovative venture growth, pre-IPO and M&A stage companies backed by leading venture capital firms, today provided its portfolio update for Q2 2016.
“I am very pleased that the momentum of our loan origination activity from our strong first quarter this year continued into the second quarter with over $203 million in new commitments to new and existing companies,” stated Manuel A. Henriquez, chairman and chief executive officer of Hercules. “We continue to selectively deploy capital while adhering to our ‘slow and steady’ growth strategy and maintaining a balanced and diversified approach across the industries and sectors in which we are originating new deals. Liquidity and access to capital continue to be the key differentiators to growth in the BDC industry. Hercules being one of the few BDCs that trade above NAV and carry an investment grade credit rating, raised an additional $142 million in 6.25% Notes due 2024 as well as expanded its Wells Fargo Accordion Facility with an additional $25 million from Everbank. We continue to methodically convert our strong liquidity position into new interest-earning loans to innovative venture growth stage companies and executing on our 2016 portfolio and earnings growth strategy, subject to market conditions.”
New Debt and Equity Commitments for Q2 2016
As of June 30, 2016, Hercules has originated $203.9 million of debt and equity commitments to new and existing portfolio companies.
Eight (8) new commitments to innovative venture growth stage companies:
Technology Portfolio – $57.9 Million
Life Sciences Portfolio – $53.0 Million
Sustainable and Renewable Technology Portfolio – $50.0 Million
New Commitments to Existing Portfolio Companies – $43.0 Million
Scheduled and Unscheduled Principal Repayments “Early Pay-Offs:”
As of June 30, 2016, Hercules received $141.7 million in total principal repayments, of which $117.6 million was unscheduled early repayments.
Portfolio IPO and M&A Activity in Q2 2016:
IPO Activities
There can be no assurances that companies that have yet to complete their IPOs will do so.
M&A Activities
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broadly diversified variety of technology, life sciences and sustainable and renewable technology industries. Since inception (December 2003), Hercules has committed more than $6.0 billion to over 350 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact info@htgc.com, or call 650.289.3060.
Hercules’ common stock trades on the New York Stock Exchange under the ticker symbol "HTGC."
In addition, Hercules has three outstanding bond issuances of:
Forward-Looking Statements
The information disclosed in this press release is made as of the date hereof and reflects Hercules most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Hercules believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160705005811/en/
Hercules Capital, Inc.Michael Hara, 650-433-5578 HT-HNInvestor Relations and Corporate Communicationsmhara@htgc.com
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