The U.S. Small Business Administration issued a “green light” letter inviting Hercules Capital to submit an application to obtain a license to form and operate a fourth small business investment company (SBIC) subsidiary, following the company’s recent presentation to the SBA committee.
Senseonics Holdings, a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring systems for people with diabetes, entered into a $50 million loan facility with Hercules Capital.
X4 Pharmaceuticals, a provider and developer of novel small-molecule therapeutics to benefit people with rare diseases of the immune system, closed a $115 million loan facility with Hercules Capital. The company also announced that it drew down $22.5 million upon the transaction’s closing.
COMPASS Pathways, a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, entered into a term loan agreement with Hercules Capital for up to $50 million.
Hercules Adviser, a wholly-owned subsidiary of Hercules Capital, established a new institutional private credit lending program to support venture and growth stage companies being impacted by recent market events across the venture and growth stage lending ecosystem.
Hercules Capital increased its committed letter of credit facility with Sumitomo Mitsui Banking Corporation by $75 million for a total of $175 million in credit capacity, subject to borrowing base, leverage and other restrictions.
AmplifyBio augmented its balance sheet with non-dilutive debt financing, whereby it may borrow a principal amount of up to $50 million from Hercules Capital.
Silicon Valley Bank and Hercules Capital provided a $300 million credit facility to Oak Street Health, a network of value-based primary care centers for adults on Medicare. The financing is intended to provide Oak Street Health with operational and strategic capital for the next several years.
Tricida entered into a debt facility with Hercules Capital. The total amount of the debt facility is $125 million of which $100 million will be available for drawdown at Tricida’s option subject to the achievement of certain milestones.
Replimune Group, a clinical stage biotechnology company pioneering the development of a novel class of tumor-directed oncolytic immunotherapies, obtained a $200 million non-dilutive term loan facility from Hercules Capital.