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Home>Hercules Capital Provides Interim Portfolio Update for Q3 2017

Hercules Capital Provides Interim Portfolio Update for Q3 2017

Hercules Capital Provides Interim Portfolio Update for Q3 2017

10/03/2017

Hercules Capital Provides Interim Portfolio Update for Q3 2017

Year-to-Date Momentum Continues with New Originations and Closed Commitments on Pace to Exceed 2016

  • Closed total new debt and equity commitments of

    $154.0 million to seven (7) companies including five (5) new and two (2) existing portfolio companies in Q3 2017
    • Closed total new debt and equity commitments of

      $552.0 million for the first nine months of 2017
  • “Early loan pay-offs,” or unscheduled principal repayments of

    $115.0 million, consisting of a large amount of older loans which typically have lower call premiums, for Q3 2017
    • Early loan pay-offs for the first nine months of 2017 of

      $382.0 million
  • Seven (7) Hercules portfolio companies currently in IPO Registration
  • Four (4) Hercules portfolio companies completed or announced M&A liquidity events during Q3 2017

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the leading specialty finance company to innovative venture growth, pre-IPO and M&A stage companies backed by leading venture capital firms, today announced its interim portfolio update for the third quarter 2017.

“Our team’s strong origination activities, which resulted in approximately $154.0 million in new commitments, continues to show the strength of the Hercules Capital platform and helped offset higher than anticipated early loan repayments in what is also typically our slowest quarter seasonally,” stated Manuel A. Henriquez, founder, chairman and chief executive officer of Hercules. “Further, we remain steadfast in continuing our disciplined ‘slow and steady’ portfolio and earnings growth strategy. During the third quarter, we converted a healthy amount of our unfunded commitments, as a subset of our portfolio companies achieved important financial and operating milestones, into new loan growth and allowing us to modestly grow our debt investment portfolio. Unscheduled early loan repayments continue at elevated levels, driven by a combination of M&A activity, increased portfolio company milestone and development achievements, and an abundance of liquidity in the broader capital markets looking for assets and more attractive pricing.”

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