PALO ALTO, Calif.–(Commercial enterprise Cord)–Hercules Capital, Inc. (NYSE:HTGC) (“Hercules” or the “Enterprise”), the leading strong point finance Agency to progressive, assignment increase, pre-IPO and M&A stage groups subsidized by means of main assignment capital companies, is thrilled to announce the present day liquidity occasions for 8 (8) of its portfolio corporations: TPI Composites (NASDAQ: TPIC), which recently finished an initial public offering (“IPO”); and ReachLocal, Touch Trade, Celator Prescription drugs, Ping Identity, IronPlanet, Sungevity, and Bind Therapeutics, and all of which these days finished or announced a merger or acquisition.
TPI Composites, Inc., (NASDAQ: TPIC) the most important U.S.-based totally unbiased manufacturer of composite wind blades for the wind strength marketplace, raised $69.zero million through offering 6.25 million shares of its common stock at $eleven.00 per percentage in July 2016. Hercules dedicated a total of $20.0 million in (2) undertaking debt financings to TPI Composites beginning in June 2013. Hercules held warrants for 160 stocks of Preferred Series B stock as of June 30, 2016, and represents an unrealized gain of about $1.2 million as of the last fee of $18.47 for TPI Composites on September 14, 2016.
As of September 12, 2016, Hercules held warrant and fairness positions in four (4) portfolio businesses that had filed personal Registration Statements under the roles Act with the Securities and Exchange Commission in contemplation of a capability IPO. There may be no assurances that organizations that haven’t begun to complete their IPOs will accomplish that.
Hercules holds equity and warrant positions in 52 and 139 portfolio groups, respectively, as of June 30, 2016, representing capacity future additional returns to buyers. No longer all companies will move public or entire an M&A occasion.
ReachLocal, Inc. (NASDAQ: RLOC), a leader in powering online advertising and marketing, assisting nearby corporations grow and function their Business higher with main technology and professional service, was acquired via Gannett Co., Inc., (NYSE: GCI), a next-generation media Organization devoted to strengthening communities throughout the Enterprise’s network, for $4.60 per proportion in cash, thru a soft provide. The transaction closed on August 9, 2016. Hercules initially devoted $25.0 million in assignment debt financing to ReachLocal in April 2015. The Enterprise diagnosed a internet found out advantage of $610,000 from the transaction, generating a completely realized inner fee of return (“IRR”) of about 24.1% from its loan payments and equity/warrant profits.
TouchCommerce, a technology associate and chief in digital customer service and engagement solutions, became received through Nuance Communications, Inc. (NASDAQ: NUAN), a leading issuer of voice and language solutions for groups and customers round the sector, for $215.zero million in overall attention. The transaction closed on August sixteen, 2016. Hercules devoted a complete of $18.0 million in 3 (three) mission debt financings to TouchCommerce beginning in June 2013. Hercules held warrants for two.3 million stocks of Preferred Series E stock, as of June 30, 2016, and represents a realized benefit of approximately $698,000 and an unrealized advantage of approximately $770,000 as of the last charge of $14.46 for Nuance Communications on September 14, 2016.