Hercules Capital, Inc. (HTGC) Wednesday announced plans to offer $250 million in aggregate principal amount of Convertible Unsecured Notes due 2028, with an option for initial purchasers to acquire an additional $37.5 million to cover overallotments. The offering will be available only to qualified institutional buyers under Rule 144A of the Securities Act and to certain non-U.S. persons under Regulation S. The completion of the offering is subject to market conditions, with no guarantee on its terms or timing.
Proceeds from the offering will be used to fund investments in debt and equity securities, as well as for working capital and general corporate purposes.
The unsecured Convertible Notes will pay interest semiannually and will be convertible under specific conditions at a conversion rate to be determined. Upon conversion, the company may settle in cash, shares of common stock, or a combination of both, based on an irrevocable election.
The notes will mature on September 1, 2028, and cannot be redeemed before maturity. The interest rate, initial conversion rate, and other terms will be finalized through negotiations.
The Convertible Notes and any common stock issued upon conversion will not be registered under the Securities Act and cannot be offered or sold in the U.S. without proper registration or exemption.
HTGC is currently trading at $18.88 or 5.46% lower on the NYSE.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.