Hercules Capital Stock Falls 5% On $250 Mln Convertible Notes Offering

(RTTNews) - Hercules Capital, Inc. (HTGC) is trading at $18.89, down 5.41 percent or $1.08, after the company announced plans to offer $250 million in convertible unsecured notes due 2028.

The stock opened at $19.31 and has traded between $18.60 and $19.55 today, compared to a previous close of $19.97. Current volume stands at 2.9 million shares, significantly above the average volume of 981,467. The stock's 52-week range is $16.95 to $22.04.

Proceeds will be used to fund investments in debt and equity securities, working capital, and other general corporate purposes.