Hercules Capital (HTGC) Announces Equity Offering

The following is a quick HTGC Update that was previously provided to subscribers of Premium Reports along with revised target prices, dividend coverage and risk profile rankings, credit issues, earnings/dividend projections, quality of management, fee agreements, and my personal positions on all business development companies (“BDCs”) please see Deep Dive Reports.

HTGC Update:

Hercules Capital, Inc. (HTGC) today announced a public offering of 5,000,000 shares of its common stock plus the underwriters option to purchase up to an additional 750,000 shares of its common stock. The offering is subject to customary closing conditions and is expected to close on June 17, 2019.

Subsequent to this update, HTGC priced the offering at $12.64 and the stock is trading at $12.46 in pre-hours.

The following information was included in the associated SEC filings:

  • As of June 10, 2019, we have closed debt and equity commitments of approximately $335.8 million to new and existing portfolio companies and funded approximately $244.1 million subsequent to March 31, 2019.
  • As of June 10, 2019, we have pending commitments (signed non-binding term sheets) of approximately $207.8 million.
  • In June 2019, Brigade Group Inc., a technology company focused on providing business process outsourcing services and knowledge process outsourcing service for global corporation sourcing services for global corporations, was acquired by Countable Corporation, a provider of a web and mobile-based modern civic engagement platform designed to understand summaries of upcoming and active legislation. Terms of the transaction were not disclosed.

For updated HTGC target prices, dividend coverage and risk profile rankings, credit issues, earnings/dividend projections, quality of management, fee agreements, and my personal positions on all BDCs please see Premium Reports.

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