Hercules Capital Announces Its Intention to Fully Redeem its 5.25% Notes due 2025
May 28 2021 - 1:05PM
Business Wire
The redemption is expected to be completed in
Q3 2021, and to include a one-time (non-cash) expense to earnings
of approximately $1.46 Million, or $0.01 per share
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the
“Company”), the largest and leading specialty financing provider to
innovative venture, growth and established stage companies backed
by some of the leading and top-tier venture capital and select
private equity firms, today announced its intent to fully redeem
approximately $75.0 million (face value) in issued and outstanding
aggregate principal amount of the Company’s 5.25% Notes due 2025
(CUSIP No. 427096 854) (the “Notes”), which were issued pursuant to
the indenture dated as of March 6, 2012, between the Company and
U.S. Bank National Association, as trustee, as supplemented by the
fifth supplemental indenture dated as of April 26, 2018 (the
“Indenture”). The Notes trade on the New York Stock Exchange under
the ticker symbol “HCXZ.”
The redemption price will be par $25.00 per Note plus accrued
and unpaid interest through, but excluding, the redemption date of
July 1, 2021.
The Notes should be presented and surrendered by mail or by hand
at the office of the Paying Agent, U.S. Bank National Association,
Corporate Trust Services, 111 Fillmore Avenue E, St. Paul, MN
55107. Settlement of the redemption is expected to occur on July 1,
2021. Questions related to the notice of redemption and related
materials should be directed to U.S. Bank via telephone at
1-800-934-6802.
The full redemption of the $75.0 million issued and outstanding
aggregate principal amount of Notes will result in a
one-time/non-recurring non-cash expense in Q3 2021 of approximately
$1.46 million, or $0.01 per share, based on the 114.3 million
weighted average shares outstanding on March 31, 2021, attributed
to the acceleration the remaining unamortized underwriting fees and
expenses.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) 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 broad variety of technology, life
sciences and sustainable and renewable technology industries. Since
inception (December 2003), Hercules has committed more than $11.6
billion to over 530 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
(NYSE) under ticker symbol HTGC. In addition, Hercules has two
retail bond issuances of 5.25% Notes due 2025 (NYSE: HCXZ) and
6.25% Notes due 2033 (NYSE: HCXY).
Forward-Looking Statements
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. You should understand that under Section 27A(b)(2)(B) of
the Securities Act of 1933, as amended, and Section 21E(b)(2)(B) of
the Securities Exchange Act of 1934, as amended, or the Exchange
Act, the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995 do not apply to forward-looking
statements made in periodic reports we file under the Exchange
Act.
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: https://www.businesswire.com/news/home/20210528005398/en/
Michael Hara Investor Relations and Corporate Communications
Hercules Capital, Inc. 650-433-5578 mhara@htgc.com
Hercules Capital (NYSE:HTGC)
Historical Stock Chart
From Sep 2024 to Oct 2024
Hercules Capital (NYSE:HTGC)
Historical Stock Chart
From Oct 2023 to Oct 2024