Hercules Capital Completes $72.7M Common Stock Offering

Hercules Capital Completes $72.7M Common Stock Offering

  

Fried Frank acted as counsel to Morgan Stanley, Wells Fargo Securities, and Keefe, Bruyette & Woods, as representatives of the several underwriters, in Hercules Capital's offering of 5,000,000 shares of its common stock, as well as the concurrent exercise by the underwriters of their option to purchase 750,000 additional shares, for gross proceeds to Hercules of US$72.7 million. 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. Hercules intends to use the net proceeds from this offering to fund investments in debt and equity securities in accordance with its investment objective, to make acquisitions, and for other general corporate purposes.

The Fried Frank team was led by corporate partner Joshua Wechsler and included tax partner Joseph E. Fox, litigation partner Lawrence Gerschwer, executive compensation & ERISA partner Amy L. Blackman, corporate special counsel Martin A. Hewitt and Dave N. Rao, corporate associate Carole J. Rosenberg, and tax associate Ryann L. Conley.

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