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Hercules Technology Growth Capital Announces Fourth Quarter And Fiscal Year 2012 Financial Results And Raises Quarterly Cash Dividend To $0.25 Per Share, Up $0.01 From Third Quarter 2012, An Increase Of Approximately 4.0%

Hercules Technology Growth Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science and cleantech industries, at all stages of development, announced today its financial results for the fourth quarter and year ended December 31, 2012.

Fourth Quarter 2012 Highlights:

  • Originated approximately $259.9 million in total debt and equity commitments to new and existing portfolio companies, up 57.2% compared to the fourth quarter of 2011.
  • Funded approximately $200.7 million of debt and equity investments during the fourth quarter, an increase of 106.5% compared to the fourth quarter of 2011.
  • Received approximately $80.6 million in principal repayments, including approximately $54.7 million of early principal repayments and approximately $25.9 million in scheduled principal payments.

  • Record high total investment income of approximately $27.4 million, an increase of 29.2%, in the fourth quarter of 2012, compared to $21.2 million for the fourth quarter of 2011.
  • Increased NII during the quarter by 21.3% to approximately $13.1 million, as compared to $10.8 million in the fourth quarter of 2011. NII per share was $0.25 on approximately 51.9 million outstanding shares for the fourth quarter of 2012.
  • Increased DNOI by 23.5% to approximately $14.2 million compared to $11.5 million in the fourth quarter of 2011. DNOI per share was $0.27 on approximately 51.9 million outstanding shares for the fourth quarter of 2012.
  • Record high total investment assets increased 38.8% year over year to approximately $906.3 million as of December 31, 2012, compared to $652.9 million as of December 31, 2011.
  • Increased the quarterly dividend by $0.01, or approximately 4.2%, to $0.25 per share payable on March 19, 2013, to shareholders of record as of March 11, 2013; the thirtieth consecutive dividend since inception bringing total dividends declared since inception to $7.89 per share.

2012 Highlights:

  • Originated approximately $636.6 million in total commitments to new and existing portfolio companies.
  • Funded approximately $469.1 million of debt and equity investments during 2012.
  • Increased NII by 21.5% to approximately $48.1 million, as compared to $39.6 million for fiscal year 2011. NII per share increased by approximately 5.5% to $0.96 on 49.1 million basic shares outstanding, as compared to $0.91 per share on 43.0 million shares outstanding for fiscal year 2011.
  • Increased DNOI by 22.2% to approximately $52.3 million, as compared to $42.8 million for fiscal year 2011. DNOI per share increased by approximately 7.0% to $1.07 on 49.1 million basic shares outstanding, as compared to $1.00 per share on 43.0 million shares outstanding for fiscal year 2011.
  • Finished 2012 in a strong liquidity position with approximately $288.0 million in available liquidity, including $183.0 million in cash and $105.0 million in bank credit facility availability.
  • Debt to equity leverage ratio at December 31, 2012 of approximately 115.5%, compared to a net leverage ratio at December 31, 2012 of 80.1%, which is calculated as total debt of $596.0 million less approximately $183.0 million in cash divided by total equity of approximately $516.0 million.




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