Hercules Capital Reaches $10.0 Billion Milestone in Total Debt Commitments Since Inception
January 14 2020 - 6:00AM
Business Wire
The Hercules team would like to sincerely thank
its diversified group of innovative entrepreneurs and seasoned
operating executives and their venture capital partners and
financial sponsors for helping us reach this milestone
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 that it has originated more
than $10.0 billion in total debt commitments since the Company’s
inception in December 2003.
“We could not be more pleased to achieve this milestone which is
a testament to the strength and longevity of the Hercules
platform,” said Scott Bluestein, chief executive officer and chief
investment officer of Hercules Capital. “Since the Company’s
inception, we have worked tirelessly to create a company whose
strong brand, scale, underwriting discipline and track record would
provide the competitive advantage in the market that Hercules
enjoys today. By almost every measure we have achieved those
goals.”
Bluestein concluded, “Our ability to successfully provide
flexible growth capital to some of the most potentially innovative,
disruptive and promising companies in our core sectors over the
last 16 years is directly attributable to our world-class
investment team and dedicated employees. More importantly, we are
thankful for the continued trust and confidence these companies and
their investors have placed in Hercules. This is an achievement
that would not have been possible without them.”
Select Achievements Since December 2003
- More than 490 highly diversified portfolio companies have
chosen Hercules as their debt financing partner
- Partnered with more than 1,000 different venture capital and
private equity sponsors who have backed the innovative growth
portfolio companies we have financed
- Over 160 Hercules portfolio companies have experienced an IPO
or M&A liquidity event
- $2.3 billion in total assets under management (“AUM”), as of
September 30, 2019
- Recognized cumulative total net realized gain/(loss) since
inception of ($26.5 million), which implies an effective annualized
loss rate of 0.018%, as of September 30, 2019
- Over 40 investment professionals located in the key venture
capital markets
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 $10.0
billion to over 490 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200114005037/en/
Michael Hara Investor Relations and Corporate Communications
Hercules Capital, Inc. 650-433-5578 mhara@htgc.com
Hercules Capital (NYSE:HTGC)
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