Hercules Capital Inc. has priced an underwritten public offering of $150.0 million in aggregate principal amount of 4.625% notes due Oct. 23, 2022.
The notes are expected to be delivered and paid for Oct. 23.
The notes are unsecured and bear interest at a rate of 4.625% per year, payable semiannually, and may be redeemed in whole or in part at the company's option at any time at par plus a make-whole premium, if applicable.
Hercules Capital intends to use the offering's net proceeds to repurchase or redeem a portion of its 6.25% notes due 2024 and to fund investments in debt and equity securities. The company could also use the net proceeds for other general corporate purposes.
Citigroup Global Markets Inc. and Jefferies LLC are acting as joint book-running managers of this offering. JMP Securities LLC, Janney Montgomery Scott LLC, FBR Capital Markets & Co., Compass Point Research & Trading LLC and MUFG Securities Americas Inc. are acting as co-managers.