Hercules Capital Prices Upsized $400 Million 6.70% Notes Offering Due 2029

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Summary · why it matters

Hercules Capital, Inc. today announced that it has priced an underwritten public offering of $400.0 million in aggregate principal amount of 6.70% notes due October 2029. The unsecured notes bear interest at 6.70% per year, payable semiannually, will mature on October 8, 2029, and may be redeemed in whole or in part at any time at the company's option at par plus a make whole premium, if applicable. The offering is expected to close on October 8, 2026, subject to customary closing conditions. Hercules said it expects to use the net proceeds to repay outstanding unsecured and/or secured indebtedness under its existing financing arrangements, to fund investments in accordance with its investment objectives, and for other general corporate purposes. Goldman Sachs & Co. LLC, SMBC Nikko Securities America, Inc. and MUFG Securities Americas Inc. are acting as joint book-running managers, with Citizens JMP Securities, LLC, DZ Financial Markets LLC, RBC Capital Markets, LLC, R. Seelaus & Co., LLC, Synovus Securities, Inc., Wedbush Securities Inc. and Zions Direct, Inc. acting as co-managers.

Impact on assets 2

Financials▲
Hercules Capital, Inc.
HTGC
± MixedCapitalrelevance

Hercules prices an upsized $400M 6.70% notes offering to repay existing debt and fund investments — a financing event with mixed implications.

Off-coverage companies 6

DZ Financial Markets LLCi
Private± Mixedrelevance

MUFG Securities Americas Inc.i
Private± Mixedrelevance

R. Seelaus & Co., LLCi
Private± Mixedrelevance

SMBC Nikko Securities America, Inc.i
Private± Mixedrelevance

Synovus Securities, Inc.i
Private± Mixedrelevance

Wedbush Inc.i
Private± Mixedrelevance