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PALO ALTO, Calif.–(BUSINESS WIRE)–Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) today announced that it
has priced its public offering of 5,000,000 shares of its common stock
at a public offering price of $12.64 per share for total gross proceeds
of approximately $63.2 million. Hercules has also granted the
underwriters an option to purchase up to an additional 750,000 shares of
its common stock. The offering is subject to customary closing
conditions and is expected to close on June 17, 2019. Morgan Stanley,
Wells Fargo Securities, and Keefe, Bruyette & Woods, A
Stifel Company
, are acting as joint book-running managers in this
offering, and Compass Point and Wedbush Securities are acting as
co-managers in this offering.

Hercules expects to use the net proceeds from this offering (i) to fund
investments in debt and equity securities in accordance with its
investment objective, (ii) to make acquisitions, and (iii) for other
general corporate purposes.

The securities described above are being offered by Hercules pursuant to
an effective shelf registration statement previously filed with and
deemed immediately effective upon filing by the Securities and Exchange
Commission (the “SEC”) on April 29, 2019. The offering may be made only
by means of a prospectus supplement and the accompanying prospectus,
copies of which may be obtained from (1) Morgan Stanley & Co. LLC, 180
Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus
Department; (2) Wells Fargo Securities, Attention: Equity Syndicate
Department, 375 Park Avenue, New York, New York 10152, by telephone at
(800) 326-5897, or by email at [email protected];
or (3) Keefe, Bruyette & Woods, Inc., Attention: Capital Markets, 787
Seventh Avenue, 4th Floor, New York, NY 10019; or by calling Keefe,
Bruyette & Woods, Inc., toll-free at (800) 966-1559; or
by e-mailing Keefe, Bruyette & Woods, Inc. at [email protected].

Investors are advised to carefully consider the investment objectives,
risks, and charges and expenses of Hercules before investing. The
prospectus supplement and the accompanying prospectus, which have been
filed with the SEC, contain this and other information about Hercules
and should be read carefully before investing.

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

About Hercules Capital, Inc.

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) is the leading and
largest specialty finance company focused on providing senior secured
venture growth loans to high-growth, innovative venture capital-backed
companies in a broad variety of technology, life sciences and
sustainable and renewable technology industries. Since inception
(December 2003), Hercules has committed more than $8.9 billion to over
460 companies and is the lender of choice for entrepreneurs and venture
capital firms seeking growth capital financing. Companies interested in
learning more about financing opportunities should contact [email protected],
or call 650.289.3060.

Hercules’ common stock trades on the New York Stock Exchange (NYSE)
under the ticker symbol “HTGC.” In addition, Hercules has six
outstanding bond issuances of:

Institutional Notes PAR $1000.00

  • 4.625% Notes due 2022

Retail Notes (“Baby Bonds”) PAR $25.00

  • 5.25% Notes due 2025 (NYSE: HCXZ)
  • 6.25% Notes due 2033 (NYSE: HCXY)

Convertible Notes

  • 4.375% Convertible Notes due 2022

Securitization Notes

  • 4.605% Asset-backed Notes due 2027
  • 4.703% Asset-backed Notes due 2028

Forward-Looking Statements

This press release may contain “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. You
should understand that under Section 27A(b)(2)(B) of the Securities Act
of 1933, as amended, and Section 21E(b)(2)(B) of the Securities Exchange
Act of 1934, as amended, or the Exchange Act, the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995 do
not apply to forward-looking statements made in periodic reports we file
under the Exchange Act.

The information disclosed in this press release is made as of the date
hereof and reflects Hercules’ most current assessment of its historical
financial performance. Actual financial results filed with the SEC may
differ from those contained herein due to timing delays between the date
of this release and confirmation of final audit results. 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 volatility,
and other factors the Company identifies from time to time in its
filings with the SEC. Although Hercules believes 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.


Michael Hara
Investor Relations and Corporate Communications
Capital, Inc.
(650) 433-5578
[email protected]