BDC Quick Recap: Hercules Capital Inc. (HTGC)
BDC Quick Recap: Hercules Capital Inc. (HTGC) as of December 31st, 2022
Hercules Capital Inc. (HTGC) filed its earnings Thursday and data was available in SOLVE’s BDC workstation within minutes. Here is a quick recap of the credit stats for Hercules Capital Inc. (HTGC) for the three-month period ended Dec. 31st, 2022.
Portfolio Stats
| FMV | $2.96B |
| # of Investments | 339 |
| Total unused commitments to extend financing | $628.9M |
| Portfolio Companies | 228 |
| Portfolio Composition | |
|---|---|
| First Lien | 91.80% |
| Equity and Other | 8.20% |
Source: SOLVE Fixed Income, Hercules Capital Inc. (HTGC)
Portfolio Credit Quality
| Non-Accruals Cost | $26.25M |
| # of Non-Accruals | 4 |
| # of Portfolio at Cost | 0.90% |
| New Non-Accruals | Esme Learning Solutions Inc. |
Source: SOLVE Fixed Income, Hercules Capital Inc. (HTGC)
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
|---|---|---|---|---|---|
| Babel Street | Senior Secured | Software | $43.8M | 12/31/2027 | S+789 |
| PathAI Inc | Senior Secured | Biotechnology Tools | $27.4M | 1/31/2027 | P+215 |
| AmplifyBio LLC | Senior Secured | Drug Discovery & Development | $23.6M | 1/31/2027 | P+250 |
| Replimune Group Inc | Senior Secured | Drug Discovery & Development | $20.7M | 10/31/2027 | P+175 |
Source: SOLVE Fixed Income, Hercules Capital Inc. (HTGC)
Exits & Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
|---|---|---|---|---|---|
| Applied Genetic Technologies Corporation | Senior Secured | Drug Discovery & Development | $16.5M | 4/30/2024 | P+650 |
| Pollen Inc | Senior Secured | Software | $13.4M | 11/30/2023 | P+525 |
| Chemocentryx Inc | Senior Secured | Drug Discovery & Development | $12.7M | 12/31/2022 | P+330 |
Source: SOLVE Fixed Income, Hercules Capital Inc. (HTGC)
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