Hercules Capital, Inc. (HTGC): debt financing — Hercules Capital closes $287.5M convertible note offering at 4.75% due 2028

Hercules Capital, Inc.

$287.5M aggregate principal of 4.750% Convertible Unsecured Notes due 2028; includes $37.5M overallotment exercised.
Net proceeds ~$278.4M; to fund investments and general corporate purposes.
Initial conversion rate 46.5631 shares per $1,000 (conversion price ~$21.48), ~12.5% premium to March 5 close of $19.09.
Notes rank senior unsecured, mature Sept 1, 2028; no company redemption right; holder conversion under conditions.
Notes initially assigned BBB+ by Kroll Bond Rating Agency.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Hercules Capital, Inc. incurred convertible notes of $287.5 million with noteholders at 4.750% per annum maturing September 1, 2028.

Instrument: convertible notes
Principal: $287.5 million
Counterparty: noteholders
Rate: 4.750% per annum
Maturity: September 1, 2028
Event: incurrence

Exact text from the filing

On March 10, 2025, in connection with a previously announced offering, Hercules Capital, Inc. (the “Company”) issued $ 287.5 million aggregate principal amount of 4.750% Convertible Unsecured Notes due 2028 (the “Convertible Notes”), inclusive of $37.5 million aggregate principal amount of Convertible Notes issued pursuant to the initial purchasers’ exercise of its overallotment option in full.

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Hercules Capital, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-051063

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