Hercules Capital (HTGC) Prices Upsized 6.5M Share Offering

Hercules Capital, Inc. (NYSE: HTGC) today announced that it has priced its upsized public offering of 6,500,000 shares of its common stock. Hercules has also granted the underwriters an option to purchase up to an additional 975,000 shares of its common stock. The offering is subject to customary closing conditions and is expected to close on August 10, 2023.

Morgan Stanley, UBS Investment Bank and Wells Fargo Securities are acting as joint lead book-running managers, Goldman Sachs & Co. LLC, Jefferies and Keefe, Bruyette & Woods, A Stifel Company, are acting as joint book-running managers, and Compass Point, JMP Securities, a Citizens Company and MUFG are acting as co-managers in this offering.

Hercules expects to use the net proceeds from this offering (i) to fund investments in debt and equity securities in accordance with its investment objectives, (ii) to repay indebtedness under its revolving credit facility and (iii) for other general corporate purposes.

The securities described above are being offered by Hercules pursuant to an effective shelf registration statement previously filed with and deemed immediately effective upon filing by the Securities and Exchange Commission (the “SEC”) on December 17, 2021. The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of the preliminary prospectus supplement and accompanying prospectus, and, when available, the prospectus supplement, may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department; UBS Securities LLC, 1285 Avenue of the Americas, New York, New York, 10019, Attn: Prospectus Department, by email: [email protected]; or Wells Fargo Securities, LLC, 500 West 33rd Street, New York, New York, 10001, Attn: Equity Syndicate Department, by calling toll free 1-800-326-5897, or by e-mail at [email protected].

Investors are advised to carefully consider the investment objectives, risks, and charges and expenses of Hercules before investing. The preliminary prospectus supplement and the accompanying prospectus, which have been filed with the SEC, contain this and other information about Hercules and should be read carefully before investing.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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