Hercules Capital, Inc. (NYSE: HTGC) (“Hercules,” “Hercules Capital,” or the “Company”), announced that it has closed an upsized underwritten public offering of $400.0 million in aggregate principal amount of 6.700% notes due October 2029 (the “Notes”).

The Notes are unsecured and bear interest at a rate of 6.700% per year, payable semiannually and may be redeemed in whole or in part at any time or from time to time at the Company’s option at par, plus a “make whole” premium, if applicable.

The Company expects to use the net proceeds from this offering to (i) repay outstanding unsecured indebtedness and/or secured indebtedness under its existing financing arrangements, (ii) fund investments in accordance with its investment objectives, and (iii) for other general corporate purposes.

Goldman Sachs & Co. LLC, SMBC Nikko Securities America, Inc. and MUFG Securities Americas Inc. acted as joint book-running managers of this offering. Citizens JMP Securities, LLC, DZ Financial Markets LLC, RBC Capital Markets, LLC, R. Seelaus & Co., LLC, Synovus Securities, Inc., Wedbush Securities Inc. and Zions Direct, Inc. acted as co-managers.