Today, 7:40 AM
- Hercules Technology Growth Capital (NYSE:HTGC) reports YTD realized net gains from portfolio exits of $8.7M, or $0.12 per share. About $6.6M of these gains have come so far in Q3.
- Among the Q3 deals was the closing of the sale of portfolio company Atrenta to Synopsys. Hercules scored a gain of about $2.6M from the deal, with an IRR of 27.1% from equity and warrant gains. The total IRR - after including loan repayments - was 16%.
- Source: Press Release
Yesterday, 3:23 PM
Thu, Aug. 6, 4:51 PM
Thu, Aug. 6, 4:15 PM
Fri, Jul. 24, 3:01 PM
- Just a 1% decline in the major averages (which are being helped by some high-profile earnings moves) is masking far greater carnage in a number of other sectors, notably healthcare (XLV -2.5%) and energy (XLE -2%).
- Business development companies and mortgage REITs are being socked again as well, suggesting the worry may go beyond interest rates and to credit in general, especially as commodity prices continue to tumble - to pick one, crude oil at $48.06 per barrel is at its lowest price in about four months.
- Among BDCs: Hercules Technology Growth (HTGC -4.2%), Triangle Capital (TCAP -3.3%), PennantPark Investment (PNNT -5.4%), Prospect Capital (PSEC -1.4%), Main Street Capital (MAIN -2.8%), TICC Capital (TICC -2.4%), KCAP Financial (KCAP -2.6%), THL Credit (TCRD -2.7%), FS Investment (FSIC -1.8%).
- Among mREITs: Armour Residential (ARR -3.1%), Two Harbors (TWO -0.9%), CYS Investments (CYS -2%), Invesco Mortgage (IVR -1.5%), Capstead Mortgage (CMO -1.2%), Apollo Residential (AMTG -2.6%), Arlington Asset (AI -3.7%), American Capital Mortgage (MTGE -0.9%), Orchid Island (ORC -5.8%).
- MReit ETFs: MORL, REM, MORT, LMBS
- BDC ETFs: BDCL, BDCS, BIZD, FGB
Wed, Jun. 10, 7:33 AM
- A search by HTGC has been underway to replace Jessica Baron as CFO, and Mark Harris has been appointed to take over, effective August 1. Until then, Controller Andrew Olson will serve as interim CFO, allowing Baron to depart the company.
- Harris previously worked at Avenue Capital for more than eight years, where he served as CFO for its Asia Strategy.
- SEC Form 8-K
- Last week, the company expanded the C-suite team, adding Robert Lake as Chief Credit Officer.
Tue, May 26, 7:30 AM
Thu, May 7, 5:12 PM
Thu, May 7, 4:47 PM
- Q1 net investment income of $13M or $0.20 per share vs. $15.9M and $0.25 in Q4. Q1 distributable NOI of $15.7M or $0.25 per share vs. $18.6M and $0.29. $100M capital raise cut the NII per share. Dividend is $0.31.
- Net investment loan portfolio growth of $133M, or 14%. Total investment assets at fair value of $1.2B, up 14%.
- Effective portfolio yields of 12.9% down 310 bps from Q4 thanks to the effect of fee accelerations and one time fees in Q4 vs. Q1.
- Net asset value of $10.47 per share up from $10.18 at start of quarter.
- Conference call at 5 ET (dial-in)
- Previously: Hercules Technology Growth Capital misses by $0.03, misses on total investment income (May 7)
- HTGC -0.75% after hours
Thu, May 7, 4:39 PM
Wed, May 6, 5:35 PM
- ABTL, ACAD, ACET, ADVS, AGO, AHS, AHT, AIRM, AL, ALIM, ALJ, ALNY, ALSK, AMBR, AMH, ASYS, AVNW, BCEI, BEBE, BIOS, BKD, CA, CBS, CDXS, CERN, CNAT, CORT, CROX, CUTR, CYBR, DATA, DIOD, DXPE, EBS, ECPG, ECYT, ED, EGY, ENOC, ENV, ERII, ESPR, EVC, EZPW, FLDM, FRT, FTD, FUEL, GALE, GDOT, GEOS, GST, GXP, HTGC, IMPV, INWK, JAZZ, JCOM, JMBA, KEYW, KTOS, LBTYA, MAIN, MCHP, MDRX, MDVN, MED, MHK, MNST, MOH, MTD, MTRX, NGVC, NHI, NOG, NUAN, NVAX, NVDA, OLED, OMED, OUTR, PCTY, PETX, PLNR, POST, PRO, PSIX, RBA, RBCN, RIGL, RJET, RMAX, RMTI, RPTP, RRMS, SAAS, SEMG, SFM, SGMS, SLW, SPPI, SRC, SREV, SSNI, STMP, SWIR, TCX, TEAR, TGI, THOR, TLLP, TNGO, TPC, TRMR, TRUE, TWOU, UBNT, UEPS, WAIR, WIFI, XOMA, XOXO, YUME, ZNGA
Mon, Apr. 6, 10:04 AM
Tue, Mar. 24, 9:07 AM
- The 6.6M share offering priced at $13.64 each for total gross proceeds of about $90M. The underwriters have the option to purchase up to another 990K shares at that price.
- The share sale has curious timing given management's apparent belief in early March that the stock price was too cheap - the company launched a $50M buyback on March 4, and the price is lower today than it was then.
- Source: Press Release
- HTGC -3.6% premarket to $13.42.
- Previously: Hercules Technology Growth -4.1% on secondary (March 23)
Mon, Mar. 23, 4:30 PM
Mon, Mar. 16, 3:33 PM
- Calling it a strong start, Hercules Technology Growth Capital (HTGC -0.3%) announces about $170M in new commitments year-to-date, and an equally strong pipeline looking ahead to Q2.
- The company's goal is 30-50% growth in the investment portfolio this year to $1.3B-$1.5B.
- Additionally, prepayments are materially lower than previous quarters, which should also help hit that end-of-year portfolio target size.
- Source: Press Release
Wed, Mar. 4, 4:23 PM
- Punished after a sizable earnings miss last week, Hercules Technology Growth Capital (NYSE:HTGC) announces a $50M share buyback program.
- At today's closing price, it would be good for about 5.4% of the float.
- Investors aren't impressed (so far), with shares lower by 0.3% after hours.
- Source: Press release
- Previously: Hercules Technology Growth Capital misses by $0.04, misses on revenue (March 2)
HTGC vs. ETF Alternatives
Hercules Technology Growth Capital Inc is a specialty finance company. It provides senior secured loans to venture capital-backed companies in technology-related industries, including technology, biotechnology, life science, and among others.
Other News & PR