Q2 net investment income of $18.6M or $0.30 up 5.7% from a year ago. Distributable net operating income of $21M or $0.34 per share up 9.4%. Dividend of $0.31.
NAV per share of $10.42, up 3.3% Y/Y.
Total new loan commitments of $238.6M. Unfunded loan commitments of $229.3M as of June 30. Net investment portfolio growth of about $107.9M.
Effective yield of portfolio of 16.9% down about 100 basis points from Q1.
increased warrant portfolio to 117 companies from 107, with a fair value of about $23M and a cost basis of $35.6M. Equity positions held in 38 companies with a fair value of $70.3M and a cost basis of $41.4M. As of June 30, Hercules (NYSE:HTGC) holds warrant and equity positions in five companies which have filed for a potential IPO.
NII of $18.3M up 22% Y/Y. NII per share of $0.30 up 11.1%. Distributable net operating income per share of $0.33 up 10%. Dividend of $0.31 per share.
Received about $132.6M in principal and paid-in-kind repayments during quarter. Entered commitments to provide debt and equity financings of about $155.7M to new and existing portfolio companies. Net decline in investment portfolio of about $18.6M on a cost basis. This is less than the $50M "lighten down" expected by management two months ago when it reported Q4.
Management was then worried about a frothy market and the stock has been punished for this conservative stance ever since (off about 20%).
Hercules Technology Growth Capital Incis a specialty finance company which provides debt & equity growth capital to technology-related companies at all stages, development from seed & emerging growth to expansion & established stages of development.