Hercules Increases Its Union Bank Credit Facility to $100.0 Million to Support Investment Portfolio Growth

PALO ALTO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”) the leading specialty financing provider to innovative venture growth stage companies backed by leading venture capital firms, today announced that effective May 25, 2018, it has increased its credit facility with MUFG Union Bank, N.A. (“the Union Bank Credit Facility”), under which MUFG Union Bank has committed an additional $25.0 million pursuant to a $125.0 million accordion feature, for a total of $100.0 million in credit capacity (subject to borrowing base, leverage and other restrictions). Borrowings under the facility maintain the current interest rate of LIBOR (with a floor of 0%) plus 3.25% and a maturity date of May 2020, with a 12-month amortization period. The advance rate of 50% against eligible loans remains the same.