Hercules Capital Announces Supplemental Cash Distribution of $0.01 per Share for the First Quarter of 2019

Supplemental Cash Distribution of $0.01 per Share is in Addition to
the Regular Quarterly Cash Distribution for the First Quarter of 2019 of
$0.32 per Share

PALO ALTO, Calif.–(BUSINESS WIRE)–Hercules
Capital, Inc.
(NYSE: HTGC) (“Hercules” or the “Company”), the
largest and leading specialty financing provider to innovative venture
growth stage companies backed by some of the leading and top-tier
venture capital and select private equity firms, is pleased to announce
that its Board of Directors has declared a supplemental cash
distribution of $0.01 per share.

This supplemental cash distribution will be paid out of Hercules
Capital’s undistributed taxable income (taxable income in excess of
distributions paid) as of March 31, 2019. The following shows the key
dates of the supplemental distribution payment:

          Record Date           May 13, 2019
Payment Date May 20, 2019

This supplemental cash distribution is in addition to the previously
announced regular quarterly cash distribution that Hercules declared for
the first quarter of 2019 of $0.32 per share. Including the regular
quarterly and supplemental cash distributions declared to date, Hercules
Capital will have paid $15.61 per share in cumulative cash distribution
since its June 2005 initial public offering.

Hercules’ Board of Directors maintains a variable distribution policy
with the objective of distributing four quarterly distributions in an
amount that approximates 90% to 100% of the Company’s taxable quarterly
income or potential annual income for a particular year. In addition,
during the year, the Company’s Board of Directors may choose to pay
additional supplemental distributions, so that the Company may
distribute approximately all its annual taxable income in the year it
was earned, or it can elect to maintain the option to spill over the
excess taxable income into the coming year for future distribution
payments.

The determination of the tax attributes of the Company’s distributions
is made annually as of the end of the Company’s fiscal year based upon
its taxable income for the full year and distributions paid for the full
year. Therefore, a determination made on a quarterly basis may not be
representative of the actual tax attributes of its distributions for a
full year. Of the distributions declared during the quarter ended March
31, 2019, 100% were distributions derived from the Company’s current and
accumulated earnings and profits. There can be no certainty to
stockholders that this determination is representative of the tax
attributes of the Company’s 2019 full year distributions to stockholders.

About Hercules Capital, Inc.

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) is the leading and
largest specialty finance company focused on providing senior secured
venture growth loans to high-growth, innovative venture capital-backed
companies in a broad variety of technology, life sciences and
sustainable and renewable technology industries. Since inception
(December 2003), Hercules has committed more than $8.9 billion to over
460 companies and is the lender of choice for entrepreneurs and venture
capital firms seeking growth capital financing. Companies interested in
learning more about financing opportunities should contact info@htgc.com,
or call 650.289.3060.

Hercules’ common stock trades on the New York Stock Exchange (NYSE)
under the ticker symbol “HTGC.” In addition, Hercules has six
outstanding bond issuances of:

Institutional Notes PAR $1000.00

  • 4.625% Notes due 2022

Retail Notes (“Baby Bonds”) PAR $25.00

  • 5.25% Notes due 2025 (NYSE: HCXZ)
  • 6.25% Notes due 2033 (NYSE: HCXY)

Convertible Notes

  • 4.375% Convertible Notes due 2022

Securitization Notes

  • 4.605% Asset-backed Notes due 2027
  • 4.703% Asset-backed Notes due 2028

Forward-Looking Statements

This press release may contain “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. You
should understand that under Section 27A(b)(2)(B) of the Securities Act
of 1933, as amended, and Section 21E(b)(2)(B) of the Securities Exchange
Act of 1934, as amended, or the Exchange Act, the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995 do
not apply to forward-looking statements made in periodic reports we file
under the Exchange Act.

The information disclosed in this press release is made as of the date
hereof and reflects Hercules’ most current assessment of its historical
financial performance. Actual financial results filed with the SEC may
differ from those contained herein due to timing delays between the date
of this release and confirmation of final audit results. These
forward-looking statements are not guarantees of future performance and
are subject to uncertainties and other factors that could cause actual
results to differ materially from those expressed in the forward-looking
statements including, without limitation, the risks, uncertainties,
including the uncertainties surrounding the current market volatility,
and other factors the Company identifies from time to time in its
filings with the SEC. Although Hercules believes that the assumptions on
which these forward-looking statements are based are reasonable, any of
those assumptions could prove to be inaccurate and, as a result, the
forward-looking statements based on those assumptions also could be
incorrect. You should not place undue reliance on these forward-looking
statements. The forward-looking statements contained in this release are
made as of the date hereof, and Hercules assumes no obligation to update
the forward-looking statements for subsequent events.

Contacts

Michael Hara
Investor Relations and Corporate Communications
Hercules
Capital, Inc.
(650) 433-5578
mhara@htgc.com

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