Thu, May 7, 5:12 PM| Comment!
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| Comment!
Wed, May 6, 5:35 PM
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Mon, Apr. 6, 10:04 AM| Comment!
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)
Mon, Mar. 2, 6:41 PM| Comment!
Mon, Mar. 2, 6:33 PM| Comment!
Sun, Mar. 1, 5:35 PM
Dec. 29, 2014, 7:20 AM| Comment!
Dec. 23, 2014, 4:39 PM
- New origination commitments of about $316M in Q4, brings the total year-to-date to $900M, up 28% from 2013.
- Q4's commitments were spread across ten new deals, and also include about $28M of commitments and renewals to existing portfolio companies.
- Principal repayments this quarter total $177.8M, of which about $146.5M were unscheduled early repayments.
- Hercules (NYSE:HTGC) holds warrant and equity positions in seven portfolio companies which have filed registration statements for potential IPOs.
- Source: Press Release
Nov. 21, 2014, 9:40 AM
- Genocea Biosciences (GNCA) enters into a loan and security agreement with Hercules Technology Growth Capital (HTGC) for a term loan of up to $27M.
- Proceeds from the initial draw of $12M will be used to repay the company's existing term loan facility, for working capital and general corporate purposes. Genocea can draw up to an additional $5M at its option through June 30, 2015. Two additional tranches of $5M can be drawn by December 15, 2015 contingent of the achievement of certain clinical and corporate milestones.
- The company also entered into an equity rights agreement whereby Hercules purchased 223,463 shares of Genocea's common stock at $8.95 per share.
Nov. 6, 2014, 6:01 PM| Comment!
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.
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