Hercules Technology gets $50 million under new facility, eyes additional $250 million

By Angela McDaniels

Tacoma, Wash., Aug. 26 - Hercules Technology Growth Capital, Inc. said it secured a new credit facility for up to $300 million on Monday.

Wells Fargo Foothill Lender Finance arranged the facility and will provide $50 million in capital under it, according to a Hercules news release.

Under the facility's accordion feature, Hercules can increase the size of the credit line to $300 million. The company said it plans to add additional lenders to expand the facility over the next 12 months.

Hercules, a Palo Alto, Calif.-based specialty finance company, will use the proceeds to provide growth capital to privately held, venture capital and private equity sponsored technology and life science companies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.