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Investing

Hercules Raising Capital (HTGC)

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By Jon C. Ogg Published
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Hercules Technology Growth Capital Inc. (NASDAQ: HTGC) is hammering shareholders after news that it plans to sell some 5 million shares in a secondary offering.  The company earmarked the sale proceeds to be used for general corporate purposes, which is said to include repayment of its debt.  The offering comes under an existing shelf registration.

Citigroup is listed as the sole book-runner for this secondary offering and it will be given a 750,000 share overallotment option.  Hercules offers customized loans to public and private companies in the technology, clean technology, and life science business segments.

Shares are indicated down 6.3% at $9.60 against a 52-week range of $7.79 to $11.55.

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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