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News Breaks
March 26, 2013
07:05 EDTPNNT, PSEC, BKCC, GBDC, MCC, HRZN, AINV, NMFC, ARCC, TCRD, TICC, HTGC, ACASBDC sector downgraded to Market Weight at Wells Fargo
Wells Fargo downgraded the Business Development Companies sector to Market Weight from Overweight citing valuations and elevated risks in the credit markets. Along with the sector, Wells downgraded Apollo Investment (AINV), Prospect Capital (PSEC) and TICC Capital (TICC) to Underpeform from Market Perform, as well as Horizon Technology (HRZN), PennantPark (PNNT), THL Credit (TCRD) and Medley Capital (MCC) to Market Perform from Outperform. The firm has Outperform ratings on American Capital (ACAS), Ares Capital (ARCC), Golub Capital (GBDC), Hercules Technology (HTGC) and New Mountain Finance (NMFC), and keeps an Underperform rating on BlackRock Kelso (BKCC).
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November 21, 2014
08:33 EDTHTGCGenocea enters into loan and security agreement with Hercules Technology
Genocea Biosciences (GNCA) announced that it has entered into a loan and security agreement with Hercules Technology Growth Capital (HTGC) for a term loan of up to $27M. The proceeds of the initial draw of $12M will be used to repay Genocea’s existing term loan facility and to provide additional working capital for general corporate purposes. Genocea can draw up to an additional $5M at its option through June 30, 2015. Two further tranches of $5M each can be drawn down at Genocea’s option on or prior to December 15, 2015 subject to the achievement of certain clinical and corporate milestones. Additionally, Genocea entered into an equity rights letter agreement with Hercules pursuant to which Hercules purchased 223,463 shares of Genocea’s common stock at $8.95 per share, the closing price of Genocea’s common stock as reported on The NASDAQ Global Market on November 19, 2014.
November 18, 2014
16:47 EDTGBDCGolub Capital reports Q3 EPS 43c, consensus 31c
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10:29 EDTPSECOptions with increasing implied volatility: YHOO PSEC
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07:24 EDTARCC, NMFC, AINV, GBDC, HTGCWells Fargo to hold a forum
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November 12, 2014
16:03 EDTPNNTPennantPark reports Q4 core NII 34c, consensus 28c
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November 10, 2014
06:27 EDTPSECProspect Capital enters $50M equity distribution agreement
Prospect Capital entered into a $50M equity distribution agreements, dated November 7, 2014, with KeyBanc Capital Markets," BB&T Capital Markets, Goldman, Sachs & Co., RBC Capital Markets, and Santander Investment Securities.

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