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SAN MATEO, Calif. - Hercules Capital, Inc. (NYSE: HTGC), a specialty finance company with a market capitalization of $3.1 billion and a P/E ratio of 13.4 according to InvestingPro, has priced an upsized public offering of $350 million in 6.000% notes due June 2030, the company announced Wednesday.
The unsecured notes will pay interest semiannually and mature on June 16, 2030. They may be redeemed in whole or in part at the company’s option at par plus a make whole premium, if applicable. The offering is expected to close on June 16, 2025, subject to customary conditions.
Hercules plans to use the net proceeds to repay outstanding secured indebtedness under its existing financing arrangements.
Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc. are serving as joint book-running managers for the offering. MUFG Securities Americas Inc., Zions Direct, Inc., RBC Capital Markets, LLC, Synovus Securities, Inc. and Keefe, Bruyette & Woods are acting as co-managers.
Hercules Capital describes itself as the leading specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in technology and life sciences industries. Since its founding in December 2003, the company has committed more than $22 billion to over 680 companies.
The company’s common stock trades on the New York Stock Exchange under the ticker symbol HTGC.
This article is based on a press release statement from Hercules Capital.
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