Hercules Capital, Inc. — Form 8-K
Filed July 30, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 62/100
What the filing says
Hercules Capital reported Q2 2026 net investment income (NII) of $92.9M ($0.50/share) on record total investment income of $149.1M, up 8.5% YoY. Record 1H 2026 new debt/equity commitments reached $2.74B (+35.6% YoY) with fundings of $1.35B (+8.5% YoY). Board declared Q2 distribution of $0.47/share ($0.40 base + $0.07 supplemental), providing 125% NII coverage. NAV per share increased 2.1% to $12.15; company holds $6.1B AUM (+14.4% YoY) and maintains conservative net regulatory leverage of 86.4%. On July 24, 2026, Hercules issued $325M unsecured notes due 2031 at 6.3%.
Why this rating
Strong operational growth in originations/fundings and record NII growth are meaningful for a $3.3B company; recent debt issuance increases leverage modestly; portfolio risk indicators stable though non-accruals doubled sequentially.
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