- Year-to-date new originations reach over $330.0 million
- Three portfolio companies in IPO registration
- Hercules to ring NYSE Opening Bell on September 14
- $15.0 million commitment to Coronado Biosciences, Inc., (Nasdaq: CND) a company focused on the development of novel immunotherapy agents for the treatment of autoimmune diseases and cancer.
- $30.5 million commitment to EducationDynamics, higher education's leading marketing information and technology services company dedicated to helping institutions find, enroll and retain students.
- $3.0 million commitment to EndPlay, Inc., a leading provider of SaaS content management, engagement and monetization solutions delivered in the cloud.
- $20.0 million commitment to Fulcrum BioEnergy, Inc., a leader in the development of next-generation ethanol production in the United States.
Unfunded Commitments - Future Portfolio Growth Potential:As of September 10, 2012, Hercules had unfunded debt commitments of approximately $69.8 million. Since these commitments may expire without being drawn upon, unfunded commitments do not necessarily represent future cash requirements or future earning assets for Hercules. Approximately $35.0 million of these unfunded commitments are dependent upon the portfolio company reaching certain milestones before the Hercules debt commitment would become available. Signed Term Sheets - Additional Future Portfolio Growth Potential: As of September 10, 2012, Hercules has approximately $141.5 million of signed non-binding term sheets subject to completion of definitive documentation with prospective portfolio companies, which generally convert to contractual commitments within approximately 45 to 60 days. Non-binding term sheets are subject to completion of Hercules' due diligence, investment committee approval, legal review, and negotiation of definitive documentation. It is important to note not all signed non-binding term sheets are expected to close and do not necessarily represent any future cash requirements. Portfolio Company Liquidity Events: Filed IPOs: As of September 10, 2012, Hercules had warrant positions in over 115 different technology-related companies, three of which have filed Form S-1 Registration Statements in contemplation of a potential IPO:
- Glori Energy, Inc.
- iWatt, Inc.
About Hercules Technology Growth Capital, Inc.:Hercules Technology Growth Capital (NYSE: HTGC), is a leading specialty finance firm providing loans to technology-related companies at all stages of development including technology, life science, and clean-tech industries. Since inception, Hercules has committed more than $2.9 billion to over 211 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing Hercules common stock trades on the New York Stock Exchange ("NYSE") under the ticker symbol "HTGC." In addition, the Company's 7.00% Senior Notes due 2019 trade on the NYSE under the symbol "HTGZ." Companies interested in learning more about financing opportunities should contact email@example.com, or call 650.289.3060. Forward-Looking Statements: The statements contained in this release that are not purely historical are forward-looking statements. 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 turbulence, and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe 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.