November 27, 2021


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Hercules Funds Gains Added Liquidity for New Investments with Approval of 3rd SBA License

4 min read

PALO ALTO, Calif.–(Organization WIRE)–Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the premier and top specialty financing service provider to ground breaking enterprise, advancement and established stage organizations backed by some of the leading and major-tier undertaking cash and decide on personal fairness corporations, today introduced it gained company committee acceptance by the U.S. Tiny Company Administration (SBA) for a 3rd Small Organization Expense Enterprise (SBIC) license. The SBIC license was issued next last motion by the SBA Administrator. This added license has a 10-year term and will supply up to $175 million of fastened-price capital for investment.

The SBIC software represents a precious partnership in between the SBA, Hercules, and the private sector financial state. The new entry to money will fund needed liquidity to technology and existence sciences advancement providers that qualify underneath the SBIC application. Underneath the software construction, Hercules will get access to up to $175 million of capital by way of the SBA debenture software, in addition to its prepared regulatory cash commitment of $87.5 million to the SBIC subsidiary which will be made use of for investment decision needs, subject to the issuance of a capital determination by the SBA and customary methods. Related to its two prior SBIC licenses, Hercules’ borrowings below its third SBIC license will be exempt from the 150 {595aaaf28bd374e61f5232268d1bfff5703fa65235acf271be13733c4f6e0734} asset coverage prerequisite as demanded by U.S. Securities and Exchange Fee (SEC), for the reason that of its current exemptive get granted by the SEC.

“We are very pleased to have been accepted for our third SBIC license which will enable us to go on to fund the needs of many impressive technological know-how and daily life sciences companies in search of expansion capital financing which is notably important in the current financial environment,” said Scott Bluestein, main government officer and chief expenditure officer of Hercules. “This third license will provide us with favorable very long-time period financing, further boosting our by now solid liquidity situation in a expense-efficient method,” extra Seth Meyer, main money officer of Hercules.

About Hercules Funds, Inc.

Hercules Money, Inc. (NYSE: HTGC) is the primary and major specialty finance organization centered on supplying senior secured undertaking progress loans to higher-progress, impressive enterprise capital-backed businesses in a broad selection of technological innovation, everyday living sciences and sustainable and renewable technological know-how industries. Due to the fact inception (December 2003), Hercules has fully commited more than $10.5 billion to above 500 businesses and is the loan company of selection for business owners and undertaking cash companies trying to get development capital funding. Corporations intrigued in finding out a lot more about funding alternatives really should make contact with [email protected], or connect with 650.289.3060.

Hercules’ typical stock trades on the New York Stock Trade (NYSE) below ticker symbol HTGC. In addition, Hercules has two retail bond issuances of 5.25{595aaaf28bd374e61f5232268d1bfff5703fa65235acf271be13733c4f6e0734} Notes thanks 2025 (NYSE: HCXZ) and 6.25{595aaaf28bd374e61f5232268d1bfff5703fa65235acf271be13733c4f6e0734} Notes due 2033 (NYSE: HCXY).

Ahead-Wanting Statements

This push launch may well comprise “forward-hunting statements” in just the this means of the Personal Securities Litigation Reform Act of 1995. You should fully grasp that underneath Segment 27A(b)(2)(B) of the Securities Act of 1933, as amended, and Part 21E(b)(2)(B) of the Securities Trade Act of 1934, as amended, or the Exchange Act, the “safe harbor” provisions of the Non-public Securities Litigation Reform Act of 1995 do not apply to ahead-on the lookout statements produced in periodic studies we file beneath the Exchange Act.

The details disclosed in this push launch is manufactured as of the day hereof and reflects Hercules’ most current evaluation of its historic money effectiveness. True fiscal benefits submitted with the SEC could differ from individuals contained herein owing to timing delays among the day of this launch and affirmation of final audit benefits. These ahead-seeking statements are not assures of potential efficiency and are issue to uncertainties and other aspects that could bring about actual effects to differ materially from people expressed in the ahead-searching statements including, with no limitation, the threats, uncertainties, including the uncertainties surrounding the existing industry volatility, and other elements the Corporation identifies from time to time in its filings with the SEC. Even though Hercules believes that the assumptions on which these ahead-wanting statements are primarily based are reasonable, any of these assumptions could demonstrate to be inaccurate and, as a consequence, the forward-looking statements centered on those assumptions also could be incorrect. You should really not location undue reliance on these forward-hunting statements. The ahead-searching statements contained in this release are designed as of the date hereof, and Hercules assumes no obligation to update the forward-hunting statements for subsequent functions.

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