Hercules Capital to Launch $250 Million Offering of Convertible Unsecured Notes

MT Newswires Live

2025/03/05

Hercules Capital (HTGC) said Wednesday it plans to launch a $250 million offering of its convertible unsecured notes due 2028.

The company plans to grant the initial purchasers an option to purchase up to an additional $37.5 million of the notes to cover overallotments, if any. The notes will be offered only to qualified institutional buyers.

The convertible notes will be unsecured, will pay interest semiannually, and will be convertible under specified circumstances based on a conversion rate to be determined. They will mature on September 1, 2028, unless repurchased or converted in accordance with their terms.

The interest rate, initial conversion rate and other terms will be determined upon negotiations between the company and the initial purchasers.

The company intends to use the net proceeds from this offering to fund investments in debt and equity securities in accordance with its investment objective, and for working capital and other general corporate purposes.

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