---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-135976"
form_type: "8-K"
ticker: "HTGC"
cik: "0001280784"
company_name: "Hercules Capital, Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T20:52:19.449861+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hercules Capital posts record Q1 NII of $0.48/sh; NAV up 2.8% to $10.82

## Summary
- Record Q1 net investment income $65.5M ($0.48/sh), up 83% YoY; total investment income $105.1M, up 61.3%.
- Total gross fundings $476.2M (record Q1); portfolio yield 15.1% GAAP, core yield 14.0%.
- NAV per share $10.82 at March 31, up 2.8% from Q4 2022; available liquidity $553.1M.
- Q1 dividend $0.47/sh declared (payable May 23, record May 16); 123% NII coverage of base distribution.
- Signed non-binding term sheets of $510M as of May 4; portfolio M&A includes IVERIC Bio acquisition for ~$5.9B.

## SEC filing metadata
- accession: 0001193125-23-135976
- form_type: 8-K
- ticker: HTGC
- cik: 0001280784
- company_name: Hercules Capital, Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1280784/000119312523135976/0001193125-23-135976-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1280784/000119312523135976/d283708d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-135976
- JSON: https://secwatch.observer/filing/0001193125-23-135976.json
- Plain text: https://secwatch.observer/filing/0001193125-23-135976.txt

## Key facts
- Earnings Releases
  Hercules Capital, Inc. reported the first quarter ended March 31, 2023 results: revenue $105.1 million, net income $65.5 million, EPS $0.48 per share.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $105.1 million
  - Net income: $65.5 million
  - EPS: $0.48 per share
  - Result: reported results
  source text: Record Total Investment Income of $105.1 million, an increase of 61.3% year-over-year • Record Net Investment Income of $65.5 million, or $0.48 per share, an increase of 83.0% year-over-year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1280784/000119312523135976/0001193125-23-135976-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.