Hercules Capital, Inc. (NYSE: HTGC) announced on March 4, 2025, its plan to make an offering of $250.0 million aggregate principal amount of Convertible Unsecured Notes due 2028. The company also intends to grant the initial purchasers an option to buy up to an additional $37.5 million principal amount to cover overallotments.
The Convertible Notes will be unsecured, pay interest semiannually, and mature on September 1, 2028. The offering is being made to qualified institutional buyers and certain non-U.S. persons, subject to market and other conditions.
Hercules Capital intends to use the net proceeds from this offering to fund investments in debt and equity securities, aligning with its investment objective, and for working capital and other general corporate purposes. This financing initiative aims to bolster the company's capital base for future growth.
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