Hercules Capital Inc

Rocket Pharmaceuticals Secures Strategic Credit Facility for Up to $150 Million from Hercules Capital

Hercules Capital (HTGC) has agreed to provide Rocket Pharmaceuticals a credit facility of up to $150 million, with $35 million funded at closing. The deal is staged: a $35M optional draw, a $30M tranche tied to a Danon disease clinical milestone, and a $50M tranche pending Hercules' investment committee approval, with a 30-month interest-only period and 48-month maturity plus warrants. For HTGC, this is a routine life-sciences venture-debt origination that deploys capital into a commercial-stage biotech borrower; Rocket's cash runway extends into Q3 2028, potentially 2029 with additional draws.

•19d ago

NorthStar Secures Up to $185 Million Growth Financing Led by Hercules Capital to Scale Actinium-225 Production and Radiopharmaceutical Manufacturing for Next-Generation Precision Cancer Therapies

Hercules Capital (NYSE: HTGC) is leading an up-to-$185 million multi-year growth capital facility for NorthStar Medical Technologies, with $100 million upfront. NorthStar will use the capital to scale commercial production of no-carrier-added Actinium-225 and expand its vertically integrated radiopharmaceutical campus and CDMO in Beloit, Wisconsin. For HTGC, this is a new venture-debt origination adding a commercial-stage radiopharmaceutical borrower with more than 30 pharma and biotech customers to the portfolio.

•26d ago

Hercules Capital’s Investment Adviser Surpasses $2.3 Billion in Investable Capital

Hercules Adviser LLC, the wholly-owned registered investment adviser of Hercules Capital (NYSE: HTGC), has surpassed $2.3 billion in investable capital following closings across the new Hercules Evergreen Fund, Hercules Growth Lending IV, and a rated securitization. The Evergreen Fund is the adviser's inaugural perpetual, open-end vehicle and its fifth institutional private credit vehicle since the platform was created in 2021; together with Hercules Capital, the firm now manages approximately $6.1 billion of assets. The milestone broadens the fee-bearing capital base around HTGC's growth-lending platform, which has committed over $28.0 billion to more than 700 portfolio companies as of June 30, 2026, though the release does not quantify fee economics or direct earnings impact for the BDC.

•1mo ago

Hercules Capital Receives a BBB+ Affirmed Investment Grade Corporate and Credit Rating from Kroll Bond Rating Agency, Inc.

Kroll Bond Rating Agency affirmed Hercules Capital's investment-grade corporate and credit rating at BBB+ with a stable outlook. The rating reflects the company's diversified portfolio of senior secured venture debt, its 23+ year operating history, and appropriate leverage metrics. Management highlighted that the rating is supported by robust risk management, access to capital markets, and a high proportion of senior unsecured debt.

•2mo ago

HTGC: 10-Q · periodic report

Hercules Capital reported solid financial results for the six months ended June 30, 2026, with total investment income increasing 13% to $290.7 million compared to the prior year period. Net investment income rose to $181.0 million, or $0.97 per basic share, driven by higher interest income across the debt investment portfolio. Net asset value per share grew slightly to $12.15 from $12.13 at year-end 2025, reflecting accrued income and new capital raises. The company's investment portfolio remained robust at approximately $4.58 billion in fair value, with significant concentrations in Drug Discovery & Development and Healthcare Services. Total assets reached $4.69 billion, supported by $2.34 billion in total debt and $48.2 million in cash and cash equivalents. The company maintained its dividend policy, distributing $174.7 million, or $0.94 per share, to shareholders during the period. Operational cash flow remained positive, and the company continued to actively manage its portfolio through new originations and repayments. The balance sheet reflects a typical business development company structure with leverage ratios within regulatory targets, positioning Hercules to capitalize on new investment opportunities in the specialty finance market.

SEC 10-Q•2mo ago

Hercules Capital Reports Second Quarter 2026 Financial Results

Hercules Capital reported record Q2 2026 financial results with total investment income of $149.1 million and net investment income of $92.9 million, up 8.5% and 4.7% year-over-year respectively. The company achieved record first-half new debt and equity commitments of $2.74 billion, driving total fundings of $1.35 billion, while assets under management grew 14.4% to approximately $6.1 billion. Q2 NII of $0.50 per share provided 125% coverage of the base cash distribution, supported by conservative balance sheet management with net GAAP leverage at 101.8%.

•2mo ago

Hercules Capital Declares a Total Cash Distribution of $0.47 per Share for the Second Quarter 2026

Hercules Capital declared a second quarter 2026 total cash distribution of $0.47 per share, comprised of $0.40 base and $0.07 supplemental distributions. The record date is set for August 11, 2026, with payments scheduled for August 18, 2026, adhering to the company's variable distribution policy aimed at distributing 90% to 100% of taxable income. Management noted that 78.65% of year-to-date distributions are Qualified Interest Income, exempt from U.S. withholding tax for documented non-U.S. shareholders.

•2mo ago

HTGC: 8-K · earnings release

Hercules Capital released preliminary financial results for the second quarter of 2026, reporting an estimated increase in net asset value per share to between $12.10 and $12.20. This represents an increase of $0.20 to $0.30 per share, or 1.7% to 2.5%, from the $11.90 NAV per share reported as of March 31, 2026. The company estimates second quarter net investment income of $0.49 to $0.51 per share and net realized gains of approximately $7.7 million. Investment activity remained strong with gross new investment commitments and fundings of approximately $0.9 billion and $0.6 billion, respectively. Credit quality metrics showed a slight deterioration, with investments on non-accrual status rising to less than 0.5% of the total portfolio at cost, up from 0.2% in the prior quarter. Total investments at fair value were preliminarily estimated at $4.5 billion to $4.6 billion as of June 30, 2026.

SEC 8-K•3mo ago

4DMT Secures Strategic Credit Facility for up to $200 Million from Hercules Capital

4D Molecular Therapeutics entered into a strategic credit facility with Hercules Capital for up to $200 million, featuring an initial $20 million draw and additional tranches available through mid-2027 and upon milestone achievements. The company's current cash position of $458 million, combined with this non-dilutive capital, is expected to fund operations into the second half of 2028, providing flexibility for Phase 3 development. Proceeds will support the advancement of lead product candidate 4D-150 for wet age-related macular degeneration and diabetic macular edema.

•3mo ago

Behavox Raises $175 Million from HPS Investment Partners, Part of BlackRock, to Accelerate Global Growth

Behavox fully repaid and retired its $70 million venture-debt facility with Hercules Capital, following a $175 million preferred equity investment from HPS Investment Partners. The repayment comes after a year of strong commercial momentum for Behavox, which grew its customer base 86% to over 100 major financial institutions and has been profitable since 2023. Hercules Capital Managing Director Ruslan Sergeyev called the partnership highly successful and expressed interest in future collaborations with Behavox.

•4mo ago

Dyne Therapeutics Announces Expanded Debt Facility of Up To $400 Million with Hercules Capital, Inc.

Dyne Therapeutics amended its senior secured term loan facility with Hercules Capital to increase total capacity to $400 million, immediately funding $50 million in non-dilutive capital. The expansion adds $125 million in new borrowing capacity, split between a milestone-based tranche and a discretionary tranche, while keeping total current borrowings at $200 million. This financial flexibility is intended to support the advancement of DYNE-251 for Duchenne muscular dystrophy and DYNE-101 for myotonic dystrophy type 1 through upcoming clinical milestones and potential U.S. launches.

•4mo ago

Beren Therapeutics Secures $300M Financing to Support the Potential Commercial Launch of Adrabetadex and Long-Term Care Initiatives for Infantile-Onset Niemann-Pick Disease, Type C

Hercules Capital (HTGC) entered into a $165 million financing agreement with Beren Therapeutics to support the potential commercial launch of adrabetadex. The facility consists of a $110 million senior-secured debt term loan and a $55 million royalty financing, providing Beren with non-dilutive capital ahead of its November 2026 FDA decision. This transaction adds a significant, high-quality life sciences asset to HTGC’s portfolio, with returns tied to regulatory milestones and future sales royalties.

•4mo ago