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.

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