Exhibit 99.1
Hercules Announces Promotion of David M. Lund to Chief Financial Officer and
Appointment of Jessica Baron as Corporate Controller
PALO ALTO, Calif.--(BUSINESS WIRE)--Oct. 2, 2006--Hercules Technology
Growth Capital, Inc. (Nasdaq:HTGC), a leading specialty finance company
providing venture capital and private equity backed technology and life science
companies with debt and equity growth capital, announced today the promotion of
David M. Lund to chief financial officer and the appointment of Jessica Baron as
corporate controller.
"I am thrilled to announce Dave's promotion to chief financial officer,"
said Manuel A. Henriquez, chairman, president and CEO of Hercules. "Since
joining our finance team as the vice president of finance and senior corporate
controller in 2005, Dave has lead Hercules' phenomenal growth and ascension as
the leading technology and life science publicly-traded specialty finance
company. His proven track record as a senior level finance executive at several
other public and private companies, along with his expertise in SEC reporting
and internal control reviews necessary for compliance under the Sarbanes-Oxley
Act, has been invaluable to us. We look forward to our continued success with
Dave at the helm as our CFO."
"I would also like to welcome Jessica to Hercules," said Henriquez. "Her
solid experience in designing and implementing financial reporting and
forecasting systems, along with her consulting and accounting background, is a
valuable addition to our finance team, and fits well with our emphasis on
business controls and plans as we continue to grow our investment portfolio and
diversify our capital sources."
Mr. Lund joined Hercules in 2005 as the vice president of finance and
senior corporate controller. He has over 20 years of experience in finance and
accounting, serving companies in the technology sector. Prior to joining
Hercules, Mr. Lund was in various senior level financial positions for
publicly-traded companies, including Rainmaker Systems, Inc., Centillium
Communications, Inc. and InterTrust Technologies Corporation, and for private
companies, including APT Technologies, Inc., Scion Photonics, Inc. and Urban
Media Communications. He also served in public accounting with Ernst & Young,
LLP and Grant Thornton, LLP. Mr. Lund earned a Bachelor of Science degree in
Business Administration with an emphasis in Accounting from San Jose State
University and a Bachelor of Science degree in Business Administration with an
emphasis in Marketing from California State University, Chico. He is a Certified
Public Accountant in the state of California.
Ms. Baron joins Hercules with over nine years of experience in technology,
retail and consulting. Prior to joining Hercules, she was a finance business
manager at Cisco Systems, Inc., responsible for implementing lean manufacturing
and cost reduction initiatives. Previously, Ms. Baron was a finance manager at
Levi Strauss & Company, where she was responsible for the sales team's revenue
and operating expense plans, along with incentive programs. She also was a
senior associate at PricewaterhouseCoopers, in both its consulting and audit
divisions. Ms. Baron earned a Bachelor of Arts degree in Human Biology from
Stanford University, a Master of Arts degree in Sociology from Stanford
University and a Master of Business Administration degree with an emphasis in
Finance from the University of California, Berkeley, Haas School of Business.
She is a Certified Public Accountant in the state of California.
About Hercules Technology Growth Capital, Inc.:
Founded in December 2003, Hercules Technology Growth Capital, Inc. is a
NASDAQ traded specialty finance company providing debt and equity growth capital
to technology-related companies at all stages of development. The Company
primarily finances privately-held companies backed by leading venture capital
and private equity firms and also may finance certain publicly-traded companies.
Hercules' strategy is to evaluate and invest in a broad range of ventures active
in technology and life science industries and to offer a full suite of growth
capital products up and down the capital structure to prospective clients
ranging from early-stage growth to expansion stage companies. The Company's
investments are originated through its principal office located in Silicon
Valley, as well as additional offices in the Boston, Boulder and Chicago areas.
Providing capital to publicly-traded or privately held companies backed by
leading venture capital and private equity firms involves a high degree of
credit risk and may result in potential losses of capital.
For more information, please visit www.herculestech.com, or www.htgc.com.
Companies interested in learning more about financing opportunities should
contact info@htgc.com, or call 650-289-3060.
Forward Looking Statements:
The statements contained in this release that are not purely historical are
forward-looking statements. These forward-looking statements are not guarantees
of future performance and are subject to uncertainties and other factors that
could cause actual results to differ materially from those expressed in the
forward-looking statements including, without limitation, the risks,
uncertainties and other factors we identify from time to time in our filings
with the Securities and Exchange Commission. Although we believe that the
assumptions on which these forward-looking statements are reasonable, any of
those assumptions could prove to be inaccurate and, as a result, the
forward-looking statements based on those assumptions also could be incorrect.
You should not place undue reliance on these forward-looking statements. The
forward-looking statements contained in this release are made as of the date
hereof, and Hercules assumes no obligation to update the forward-looking
statements for subsequent events.
CONTACT: Hercules Technology Growth Capital, Inc.
Sally Borg, 650-289-3066
sborg@htgc.com
Main, 650-289-3060
info@htgc.com