Hercules Capital Fulfills $220.9 Million Debt And Equity Commitments In Q1

Hercules Capital Inc HTGC disclosed, in a statement, that it could fulfill $220.9 million debt, as well as equity commitments in the first quarter. The company is engaged in special financing and provided its update for the first quarter.

Hercules Capital Chairman and CEO Manuel Henriquez said, "I am delighted to see our organization's continued execution at all levels, as we pursue our controlled growth by adhering to our ‘slow and steady' strategy, and march towards our plan of growing our investment loan portfolio by approximately $200 million in the first half of 2016 to a loan portfolio valued between $1.25 to $1.3 billion, subject to market conditions."

The CEO continued, "We are off to a great start in 2016, with over $220 million in new commitments, and with an equally strong pipeline of potential deals of over $1.1 billion extending into Q2 2016. We have also been working hard at increasing our access to additional liquidity for growth through the expansion of our Wells Fargo accordion credit facility."

According to Hercules Capital, the company received total principal repayments of $76.4 million in the first quarter, of which $55.0 million represented early repayments.

Shares of the company advanced 1.49 percent on Friday.