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Stock Market & Financial Investment News

News Breaks
June 10, 2014
10:04 EDTCLSN, HTGCCelsion closes second $5M tranche under Hercules Loan Facility Agreement
Celsion (CLSN) announced that it has closed the second $5M tranche under its $20M Loan and Security Agreement dated as of November 25, 2013 with Hercules Technology (HTGC). The proceeds will be used to fund the $3.4M upfront cash payment associated with Celsion's acquisition of EGEN, which was announced separately today, as well as Celsion's transaction costs associated with the EGEN transaction. Upon the closing of this second tranche, Celsion has drawn down a total of $10M under the November 25, 2013 agreement with Hercules. The funding is in the form of secured indebtedness bearing interest at a floating prime-based variable rate. In conjunction with the November 2013 loan agreement, Celsion issued Hercules a warrant exercisable for a total of 194,986 shares of Celsion's common stock at a per share exercise price of $3.59, with 50% immediately exercisable and the remaining 50% exercisable upon Hercules' funding of this $5M draw-down. The Hercules Warrant will expire November 25, 2018.
News For CLSN;HTGC From The Last 14 Days
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March 24, 2015
07:28 EDTHTGCHercules Technology 6.6M share Spot Secondary priced at $13.64
Wells Fargo, Raymond James and Keefe Bruyette acted as joint book running managers for the offering.
March 23, 2015
19:13 EDTHTGCOn The Fly: After Hours Movers
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16:20 EDTHTGCHercules Technology files to sell 6.6M shares of common stock
Hercules expects to use the net proceeds from this offering to fund investments in debt and equity securities in accordance with its investment objective and for other general corporate purposes Wells Fargo Securities, Raymond James and Keefe, Bruyette & Woods, a Stifel Company, are acting as joint book-running managers in this offering.
March 16, 2015
15:15 EDTHTGCHercules Technology says EPS growth targets pushed out 'quarter or two'
"Our origination activity has been very robust as we continue to see healthy deal flow from our venture capital partners and from our innovative venture growth stage companies. However, we continue to see many of these new investments opportunities closing later and later in the quarter, thereby lowering our targeted intra-quarter weighted average loan balances, and pushing out our EPS growth targets by a quarter or two in the process. In addition, our forecasted early pay-offs, or prepayments, are materially lower than prior quarters and in-line with our expectations, which should allow us to grow our loan investment portfolio and begin to leverage our SG&A infrastructure investment in anticipation of higher year-end loan investment portfolio growth and balances. Finally, we continue to selectively pursue new loan investment opportunities that meet our credit underwriting standards, as we look to systematically grow our loan investment portfolio to new records levels in 2015 with senior secured high quality investments. We remain steadfast in not trading-off increased credit risk in the quest for higher loan yields by reaching down the capital structure, and prefer to accept lower loan yields in lieu of increased credit risk," said Hercules chairman and CEO Henriquez.
15:14 EDTHTGCHercules Technology reports Q1 closed commitments to date near $170M
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