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Hercules Capital to fully redeem 5¼% $25-par notes due 2025
Chicago, May 28 – Hercules Capital, Inc. announced that it intends to redeem in full its $75 million outstanding 5¼% notes due 2025, according to a press release.
The company is intending to complete the redemption of the $25-par notes in the third quarter.
The notes trade on the New York Stock Exchange under the ticker symbol “HCXZ.”
The redemption price will be $25 per note, plus interest through the redemption date of July 1.
Notes should be presented and surrendered to U.S. Bank NA (800 934-6802).
The full redemption will result in a one-time expense of $1.46 million, or $0.01 per share, based on the 114.3 million weighted average shares outstanding on March 31, attributed to the acceleration of the remaining unamortized underwriting fees and expenses.
Hercules Capital is a Palo Alto, Calif.-based specialty finance company.
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