Hercules Announces Fourth Quarter and Full-Year 2015 Financial Results and Quarterly Dividend of $0.31 per Share
Summary
We expanded our national office network, grew our board of directors with three independent members, bolstered our senior management team with a new CFO and General Counsel, and enhanced and strengthened our liquidity position. Signed non-binding term sheets are subject to satisfactory completion of Hercules’ due diligence and final investment committee approval process as well as negotiations of definitive documentation with the prospective portfolio companies. As of December 31, 2015, Hercules held warrant and equity positions in three (3) portfolio companies that had confidentially filed Form S-1 Registration Statements under the JOBS Act with the SEC in contemplation of a potential IPO. These gains were partially offset by gross realized losses of $7.5 from the liquidation of our investments in sixteen portfolio companies, nearly all comprised of expiring warrants and loan charge offs. As of December 31, 2015, grading of the loan portfolio at fair value, excluding warrants and equity investments, was as follows: The table below summarizes our year-to-date closed and pending commitments as follows: Hercules has scheduled its fourth quarter and full-year 2015 financial results conference call for February 25, 2016 at 2:00 p.m. PST (5:00 p.m. EST).