Hercules Technology upgraded to Buy from Hold at Stifel Nicolaus Stifel Nicolaus upgraded Hercules as the firm believes that the company's recent moves to increase its leverage will boost its earnings. Target $13.
Genocea 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.