Hercules Capital Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
$HTGC
Investment Managers
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 5, 2026
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Item 1.01. |
Entry into a Material Definitive Agreement. |
Notes Offering
On February 10, 2026, in connection with a previously announced public offering, Hercules Capital, Inc. (the “”) and U.S. Bank Trust Company, National Association, as trustee (the “”), entered into a Tenth Supplemental Indenture (the “”) to that certain indenture, dated March 6, 2012, between the Company and the Trustee (together with the Tenth Supplemental Indenture, the “”). The Tenth Supplemental Indenture relates to the Company’s issuance, offer and sale of $300,000,000 in aggregate principal amount of its 5.350% Notes due 2029 (the “”).
Company
Trustee
Tenth Supplemental Indenture
Indenture
Notes
The Notes will mature on February 10, 2029, unless previously redeemed or repurchased in accordance with their terms. The interest rate of the Notes is 5.350% per year and will be paid semiannually in arrears on February 10 and August 10 of each year, commencing August 10, 2026. The Notes are the Company’s unsecured obligations that rank senior in right of payment to all of the Company’s existing and future indebtedness that is expressly subordinated, or junior, in right of payment to the Notes. The Notes will not be guaranteed by any of the Company’s current or future subsidiaries. The Notes will rank pari passu, or equally, in right of payment with all of the Company’s existing and future liabilities that are not so subordinated, or junior. The Notes will effectively rank subordinated, or junior, to any of the Company’s secured indebtedness (including unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness. The Notes will rank structurally subordinated, or junior, to all existing and future indebtedness (including trade payables) incurred by the Company’s subsidiaries, financing vehicles or similar facilities.
The Notes 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 Indenture contains certain covenants, including covenants requiring the Company to comply with Section 18(a)(1)(A) as modified by Section 61(a) of the Investment Company Act of 1940, as amended (the “1940 Act”), or any successor provisions, to comply with Section 18(a)(1)(B) as modified by Section 61(a)(2) of the 1940 Act, or any successor provisions, giving effect in either case to any exemptive relief granted to the Company by the Securities and Exchange Commission (the “SEC”) (even if the Company is no longer subject to the 1940 Act), and to provide certain financial information to the holders of the Notes and the Trustee if the Company should no longer be subject to the reporting requirements of Sections 13 or 15(d) of the Securities Exchange Act of 1934, as amended. These covenants are subject to important limitations and exceptions that are set forth in the Indenture.
The Notes were offered and sold in an offering registered under the Securities Act of 1933, as amended, pursuant to the Company’s registration statement on Form
N-2
(Registration No. 333-283735)
previously filed with the SEC on December 11, 2024, and as supplemented by a preliminary prospectus supplement dated February 5, 2026 and a final prospectus supplement dated February 5, 2026, filed with the SEC on February 9, 2026. This Current Report on Form 8-K
shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The transaction closed on February 10, 2026. The Company expects to use the net proceeds from this offering to fund investments in accordance with its investment objectives, repay outstanding secured indebtedness under its financing arrangements and for other general corporate purposes.
The foregoing descriptions of the Tenth Supplemental Indenture and the Notes do not purport to be complete and are qualified in their entirety by reference to the full text of the Tenth Supplemental Indenture and the form of global note representing the Notes, respectively, each filed or incorporated by reference as exhibits hereto and incorporated by reference herein.
Item 2.03. |
Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant |
The information set forth under Item 1.01 of this Form
8-K
is incorporated herein by reference. Item 8.01 |
Other Events |
On February 5, 2026, the Company entered into an underwriting agreement (the “Underwriting Agreement”) by and among the Company and Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the several underwriters named in Schedule A thereto (the “Underwriters”), in connection with the issuance and sale of the Notes (the “Offering”).
The Offering was made pursuant to the Company’s effective shelf registration statement on Form
N-2
(Registration No. 333-283735)
previously filed with the SEC, as supplemented by a preliminary prospectus supplement dated February 5, 2026, a final prospectus supplement dated February 5, 2026, filed with the SEC on February 9, 2026, and a pricing term sheet dated February 5, 2026. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Underwriting Agreement filed with this report as Exhibit 1.1 and which is incorporated herein by reference.
Item 9.01. |
Financial Statements and Exhibits |
(d) Exhibits.
| * | Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon its request. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HERCULES CAPITAL, INC. | ||||||
| February 10, 2026 | By: | /s/ Seth H. Meyer | ||||
| Seth H. Meyer | ||||||
| Chief Financial Officer | ||||||