Hercules Technology Raises $48 Million in Public Offering
Hercules Technology Growth Capital, Inc. announced the closing of its public offering. The underwriter purchased five million shares of common stock from Hercules in a bought deal for a price equal to its last published net asset value of $9.61 per share, resulting in proceeds of $48.05 million before deducting offering expenses. The last reported sales price of Hercules’ common stock on January 19, 2012 prior to the sale of its shares of common stock was $10.25 per share. Citigroup is the sole underwriter of this offering.
Hercules has granted the underwriter a 30-day option to purchase up to an additional 750,000 shares of common stock.
Hercules expects to use the net proceeds from this offering to fund investments in debt and equity securities in accordance with its investment objective and for other general corporate purposes.
Hercules Technology Growth Capital, Inc. is a specialty finance firm providing customized loans to public and private companies in the technology, clean technology, and life science industries, at all stages of development.
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