Hercules Capital Renews $125.0 Million Accordion Credit Facility With Initial Commitment of $75.0 Million From Wells Fargo

PALO ALTO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”) the leading and largest focused specialty finance company to innovative venture growth, pre-IPO and M&A stage companies backed by leading venture capital and select private equity firms, today announced the renewal of its credit facility with Wells Fargo Capital Finance (“WFCF”), part of Wells Fargo & Company (NYSE:WFC), under which WFCF has committed $75.0 million in credit capacity under a $125.0 million accordion credit facility, subject to borrowing base, leverage and other restrictions, effective January 11, 2019. Borrowings under the amended facility reduces the current interest rate to LIBOR plus 3.00% with a natural floor of 3.00% and a maturity date to January 2022, plus a 12-month amortization period. The advance rate increased to 55% against eligible loans.