Daily News: September 21, 2012

Hercules Prices Public Offering of $75 Million Notes Due 2019


Hercules Technology Growth Capital, Inc. announced that it has priced an underwritten public offering of $75 million in aggregate principal amount of its 7.00% senior unsecured notes due 2019. The notes will mature on September 30, 2019, 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 September 30, 2015. The notes will bear interest at a rate of 7.00% per year payable quarterly on March 30, June 30, September 30 and December 30, of each year, beginning December 30, 2012. The company has also granted the underwriters a 30-day option to purchase up to an additional $11.25 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 “HTGY.”

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.

Stifel, Nicolaus & Company, Credit Suisse Securities (USA), Goldman, Sachs & Co. and RBC Capital Markets are acting as joint bookrunning managers of this offering. BB&T Capital Markets, a division of Scott & Stringfellow, Janney Montgomery Scott, JMP Securities, Sterne, Agee & Leach, Stephens and Wunderlich Securities are acting as co-managers of this offering.

Hercules Technology Growth Capital is a specialty finance company focused on providing senior secured loans to entrepreneurial venture capital and private equity-backed companies in technology-related markets at all stages of development.