---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-051063"
form_type: "8-K"
ticker: "HTGC"
cik: "0001280784"
company_name: "Hercules Capital, Inc."
filed_at: "2025-03-10T23:59:59+00:00"
generated_at: "2026-05-25T00:53:56.009850+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Hercules Capital closes $287.5M convertible note offering at 4.75% due 2028

## Summary
- $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.

## SEC filing metadata
- accession: 0001193125-25-051063
- form_type: 8-K
- ticker: HTGC
- cik: 0001280784
- company_name: Hercules Capital, Inc.
- filed_at: 2025-03-10T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1280784/000119312525051063/0001193125-25-051063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1280784/000119312525051063/d931396d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-051063
- JSON: https://secwatch.observer/filing/0001193125-25-051063.json
- Plain text: https://secwatch.observer/filing/0001193125-25-051063.txt

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