Hercules Capital Files 8-K with SEC Regarding Equity Distribution Agreement

Hercules Capital, Inc. recently submitted an 8-K filing to the Securities and Exchange Commission (SEC) on December 12, 2024. The filing detailed a prospectus supplement termed the “Prospectus Supplement,” where the company proposed the potential issuance and sale of up to 30,000,000 shares of its common stock. The net proceeds from this offering are earmarked for various purposes, including investments in debt and equity securities aligning with the company’s investment objectives, acquisitions, retiring specific debt obligations, and general corporate needs.

As part of this offering, Hercules Capital entered into equity distribution agreements with Citizens JMP Securities LLC and Jefferies LLC on the same day. These agreements allow the company to offer and sell the shares periodically through the designated Sales Agents. Sales could be executed through negotiated transactions or “at the market” transactions, as per Rule 415 under the Securities Act of 1933. The Sales Agents are entitled to commissions up to 2.0% of the gross sales price of any shares sold under their respective agreements.

The Equity Distribution Agreements come with customary provisions including representations, warranties, closing conditions, indemnification rights, and termination clauses. The full content of these agreements can be found in Exhibit 10.1 attached to the filing.

The offering concerning the Prospectus Supplement and a base prospectus dated December 11, 2024, is in line with the previously filed shelf registration statement with the SEC (File No. 333-283735) on December 11, 2024. It is vital to note that the Current Report on Form 8-K does not constitute an offer to sell or a solicitation to buy any securities.

Alongside this information, the filing also includes financial statements and exhibits. The exhibits comprise an opinion from Dechert LLP, the Equity Distribution Agreement, a consent also from Dechert LLP, and a cover page interactive date file embedded within the Inline XBRL document.

The report was officially signed by Hercules Capital, Inc. on December 12, 2024. Kiersten Zaza Botelho, acting as the Secretary of the company, has duly authorized the submission.

Please note that this content does not constitute financial advice or recommendation and is solely for informational purposes.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hercules Capital’s 8K filing here.

Hercules Capital Company Profile

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.