Hercules Technology Growth Capital, Inc. (NYSE: HTGC) (the "Company")
today announced that it has priced an underwritten public offering
of $100 million in aggregate principal amount of its 6.25% notes due
2024 (the "Notes"). The Notes will mature on July 30, 2024, and may be
redeemed in whole or in part at any time or from time to time at the
Company's option on or after July 30, 2017. The Notes will bear interest
at a rate of 6.25% per year payable quarterly on January
30, April 30, July 30 and October 30, of each year, beginning July 30,
2014. The Company has also granted the underwriters a 30-day option to
purchase up to an additional $5 million in aggregate principal amount of
the Notes to cover overallotments, if any. The Company expects to list
the Notes on the New York Stock Exchange under the trading symbol "HTGX."
The Company intends to invest the net proceeds of this public offering
to fund investments in debt and equity securities in accordance with its
investment objective and for other general corporate purposes.
Keefe, Bruyette & Woods, Inc., Jefferies LLC, and RBC Capital Markets,
LLC are acting as joint book-running managers of this offering. BB&T
Capital Markets, a division of BB&T Securities, LLC, Janney Montgomery
Scott LLC, JMP Securities LLC and Sterne, Agee & Leach, Inc. are acting
as co-managers of this offering.
The offering may be made only by means of a preliminary prospectus
supplement and an accompanying prospectus, copies of which may be
obtained from (1) Keefe, Bruyette & Woods, Inc., Attention: Capital
Markets,787 Seventh Avenue, 4th Floor, New York, NY 10019; or by
calling Keefe, Bruyette & Woods, Inc. toll-free at (800) 966-1559,
(2) Jefferies LLC, Attention: Debt Capital Markets, 520 Madison Avenue,
New York, NY 10022; or by calling Jefferies LLC at (201) 761-7610, or
(3) RBC Capital Markets, LLC, 3 World Financial Center, 200 Vesey
Street, 8th Floor, New York, NY 10281, by calling (866) 375-6829 or by
email at RBCNYFixedIncomeProspectus@rbccm.com.
Investors are advised to carefully consider the investment objectives,
risks and charges and expenses of the Company before investing. The
prospectus supplement and prospectus contain this and other information
about the Company and should be read carefully before investing.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of, the
shares in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
About Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. (NYSE: HTGC) is the leading
specialty finance company focused on providing senior secured loans to
venture capital-backed companies in technology-related markets,
including technology, biotechnology, life science, and energy &
renewable technology industries, at all stages of development. Since
inception (December 2003), Hercules has committed more than $4.2 billion
to over 270 companies and is the lender of choice for entrepreneurs and
venture capital firms seeking growth capital financing.
In addition, Hercules has two outstanding bond issuances of 7.00% Senior
Notes due 2019-the April 2019 Notes and September 2019 Notes-which trade
on the NYSE under the symbols "HTGZ" and "HTGY," respectively.
The statements contained in this release that are not purely historical
are forward-looking statements. These forward-looking statements are not
guarantees of future performance and are subject to uncertainties and
other factors that could cause actual results to differ materially from
those expressed in the forward-looking statements including, without
limitation, the risks, uncertainties, including the uncertainties
surrounding the current market turbulence, and other factors we identify
from time to time in our filings with the Securities and Exchange
Commission. Although we believe that the assumptions on which these
forward-looking statements are based are reasonable, any of those
assumptions could prove to be inaccurate and, as a result, the
forward-looking statements based on those assumptions also could be
incorrect. You should not place undue reliance on these forward-looking
statements. The forward-looking statements contained in this release are
made as of the date hereof, and Hercules assumes no obligation to update
the forward-looking statements for subsequent events.
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