Hercules Capital, Inc. (NYSE: HTGC) provided a new $150 million senior secured term loan facility to Heron Therapeutics, Inc., announced on August 8, 2025. This financing is part of Heron's comprehensive capital restructuring designed to enhance financial flexibility and support long-term growth.
The proceeds from this refinancing, along with other components of the restructuring, were used to retire prior convertible notes and Heron's working capital facility. This provides additional working capital to support Heron's commercial and development initiatives.
The refinancing transactions were entered into concurrently on August 8, 2025, and are expected to close on August 12, 2025. This investment underscores Hercules Capital's role in providing strategic capital to commercial-stage biotechnology companies to streamline their capital structure and fund growth.
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