Exhibit 99.1
Hercules Announces Its Intention to Fully Redeem its 6.25% Notes due 2024
The redemption is expected to be completed in two equal transactions in Q1 2019, and to include aone-time(non-cash) expense to earnings of approximately $1.7 Million, or $0.02 per share
PALO ALTO, Calif., December 11, 2018 –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 intent to fully redeem approximately $83.5 million (face value) in issued and outstanding aggregate principal amount of the Company’s 6.25% Notes due 2024 (CUSIP No. 427096 862) (the “Notes”), which were issued pursuant to the indenture dated as of March 6, 2012, between the Company and U.S. National Bank Association, as trustee, as supplemented by the third supplemental indenture dated as of July 14, 2014 (the “Indenture”). The Notes trade on the New York Stock Exchange under the ticker symbol “HTGX”.
The redemption price will be par $25.00 per Note plus accrued and unpaid interest through, but excluding, the redemption dates of:
The Notes should be presented and surrendered by mail or by hand at the office of the Paying Agent, U.S. Bank National Association, Corporate Trust Services, 111 Fillmore Avenue E, St. Paul, MN 55107. Each settlement of the redemption is expected to occur on January 14, 2019 and February 4, 2019, respectively. Questions related to the notice of redemption and related materials should be directed to U.S. Bank via telephone at1-800-934-6802.
The full redemption of the remaining $83.5 million issued and outstanding aggregate principal amount of Notes will result in aone-time/non-recurringnon-cash expense in Q1 2019 of approximately $1.7 million, or $0.02 per share, based on the 95.5 million weighted average shares outstanding on September 30, 2018, attributed to the acceleration the remaining unamortized underwriting fees and expenses.
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology, life sciences and sustainable and renewable technology industries. Since inception (December 2003), Hercules has committed more than $8.2 billion to over 440 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contactinfo@htgc.com, or call 650.289.3060.
