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Hercules Technology Growth Capital, Inc. Closes Public Offering Of Common Stock Including Option To Purchase Additional Shares

Hercules Technology Growth Capital, Inc. (NYSE: HTGC) ("Hercules") today closed its underwritten public offering of 7,000,000 shares of common stock. In addition, the underwriters fully exercised their over-allotment option to purchase 1,050,000 additional shares of the Company’s common stock. Today’s closing included the sale of the over-allotment shares, bringing the total number of shares sold in this offering to 8,050,000. The underwriters purchased the shares of common stock from Hercules for a price of $11.90 per share, and net proceeds from the offering after deducting estimated offering expenses payable by the Company are expected to be approximately $95.3 million. The last reported sales price of Hercules’ common stock on March 7, 2013, prior to the sale of its shares of common stock was $12.52 per share.

Hercules expects to use the net proceeds from this offering to fund  investments in debt and equity securities in accordance with its investment objective and for other general corporate purposes.

Citigroup and Wells Fargo Securities acted as joint book-running managers in this offering. Aegis Capital Corp, BB&T Capital Markets, a division of BB&T Securities, LLC, Maxim Group LLC and National Securities Corporation acted as co-managers in this offering.

The securities described above were offered by Hercules pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on December 18, 2012. A prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's web site at http://www.sec.gov. Copies of the prospectus supplement relating to these securities may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (tel: (800) 831-9146); Wells Fargo Securities, 375 Park Avenue, 4th Floor, New York, New York 10152, Attn: Equity Syndicate or by e-mailing cmclientsupport@wellsfargo.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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