UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES |
| EXCHANGE ACT OF 1934 |
For The Quarterly Period Ended June 30, 2012
OR
| ¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES |
| EXCHANGE ACT OF 1934 |
Commission File Number: 814-00702
HERCULES TECHNOLOGY GROWTH
CAPITAL, INC.
(Exact Name of Registrant as Specified in its Charter)
| Maryland | 743113410 | |
| (State or Jurisdiction of Incorporation or Organization) |
(IRS Employer Identification No.) |
| 400 Hamilton Ave., Suite 310 Palo Alto, California |
94301 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(650) 289-3060
(Registrant’s Telephone Number, Including Area Code)
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
| Large Accelerated Filer | ¨ | Accelerated Filer | x | |||||
| Non-Accelerated Filer | ¨ | Smaller Reporting Company | ¨ | |||||
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x
On August 1, 2012, there were 49,748,903 shares outstanding of the Registrant’s common stock, $0.001 par value.
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
FORM 10-Q TABLE OF CONTENTS
2
In this Quarterly Report, the “Company,” “Hercules,” “we,” “us” and “our” refer to Hercules Technology Growth Capital, Inc. and its wholly owned subsidiaries and its affiliated securitization trusts unless the context otherwise requires.
| ITEM 1. | CONSOLIDATED FINANCIAL STATEMENTS |
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
(unaudited)
(dollars in thousands, except per share data)
| June 30, 2012 (unaudited) |
December 31, 2011 |
|||||||
| Assets |
||||||||
| Investments: |
||||||||
| Non-control/Non-affiliate investments (cost of $724,952 and $642,038, respectively) |
$ | 715,447 | $ | 651,843 | ||||
| Affiliate investments (cost of $8,065 and $3,236, respectively) |
7,197 | — | ||||||
| Control investments (cost of $10,696 and $11,266, respectively) |
169 | 1,027 | ||||||
|
|
|
|
|
|||||
| Total investments, at value (cost of $743,713 and $656,540, respectively) |
722,813 | 652,870 | ||||||
| Cash and cash equivalents |
56,140 | 64,474 | ||||||
| Interest receivable |
7,111 | 5,820 | ||||||
| Other assets |
15,808 | 24,230 | ||||||
|
|
|
|
|
|||||
| Total assets |
$ | 801,872 | $ | 747,394 | ||||
|
|
|
|
|
|||||
| Liabilities |
||||||||
| Accounts payable and accrued liabilities |
$ | 9,317 | $ | 10,813 | ||||
| Wells Fargo Loan |
3,130 | 10,187 | ||||||
| 2019 Notes |
43,000 | — | ||||||
| Long-term Liabilities (Convertible Debt) |
70,894 | 70,353 | ||||||
| Long-term SBA Debentures |
200,750 | 225,000 | ||||||
|
|
|
|
|
|||||
| Total liabilities |
327,091 | 316,353 | ||||||
| Commitments and Contingencies (Note 10) |
||||||||
| Net assets consist of: |
||||||||
| Common stock, par value |
50 | 44 | ||||||
| Capital in excess of par value |
534,165 | 484,244 | ||||||
| Unrealized depreciation on investments |
(21,102 | ) | (3,431 | ) | ||||
| Accumulated realized losses on investments |
(31,902 | ) | (43,042 | ) | ||||
| Distributions in excess of investment income |
(6,430 | ) | (6,774 | ) | ||||
| Total net assets |
474,781 | 431,041 | ||||||
|
|
|
|
|
|||||
| Total liabilities and net assets |
$ | 801,872 | $ | 747,394 | ||||
|
|
|
|
|
|||||
| Shares of common stock outstanding ($0.001 par value, 100,000,000 authorized) |
49,743 | 43,853 | ||||||
| Net asset value per share |
$ | 9.54 | $ | 9.83 | ||||
See notes to consolidated financial statements (unaudited)
3
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Anthera Pharmaceuticals Inc.(3) |
Drug Discovery & Development | Senior Debt Matures December 2014 Interest rate Prime + 7.30% or Floor rate of 10.55% |
$ | 25,000 | $ | 24,859 | $ | 24,005 | ||||||||||
| Aveo Pharmaceuticals, Inc.(3) |
Drug Discovery & Development | Senior Debt Matures September 2015 Interest rate Prime + 7.15% or Floor rate of 11.90% |
$ | 26,500 | 26,500 | 27,030 | ||||||||||||
| Cempra, Inc.(3) |
Drug Discovery & Development | Senior Debt Matures December 2015 Interest rate Prime + 6.30% or Floor rate of 9.55% |
$ | 10,000 | 9,791 | 9,432 | ||||||||||||
| Chroma Therapeutics, Ltd.(5)(10) |
Drug Discovery & Development | Senior Debt Matures November 2013 Interest rate Prime + 7.75% or Floor rate of 12.00% |
$ | 5,724 | 6,262 | 6,319 | ||||||||||||
| Concert Pharmaceuticals, Inc.(4) |
Drug Discovery & Development | Senior Debt Matures October 2015 Interest rate Prime + 3.25% or Floor rate of 8.50% |
$ | 20,000 | 19,522 | 18,072 | ||||||||||||
| Dicerna Pharmaceuticals, Inc. |
Drug Discovery & Development | Senior Debt Matures January 2015 Interest rate Prime + 5.75% or Floor rate of 10.15% |
$ | 11,081 | 10,834 | 10,607 | ||||||||||||
| Insmed, Incorporated(3) |
Drug Discovery & Development | Senior Debt Matures January 2016 Interest rate Prime + 4.75% or Floor rate of 9.25% |
$ | 10,000 | 9,593 | 9,593 | ||||||||||||
| NeurogesX, Inc.(3) |
Drug Discovery & Development | Senior Debt Matures February 2015 Interest rate Prime + 6.25% or Floor rate of 9.50% |
$ | 15,000 | 14,825 | 14,430 | ||||||||||||
| NextWave Pharmaceuticals, Inc.(4) |
Drug Discovery & Development | Senior Debt Matures June 2015 Interest rate Prime + 4.30% or Floor rate of 9.55% |
$ | 6,000 | 5,960 | 5,751 | ||||||||||||
| Paratek, Pharmaceuticals, Inc. |
Drug Discovery & Development | Senior Debt(9) Matures upon liquidation Interest rate Fixed 10.00% |
$ | 45 | 45 | 45 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Drug Discovery & Development (26.39%)* |
Beginning September 2012 | 128,191 | 125,284 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
See notes to consolidated financial statements (unaudited)
4
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Bridgewave Communications |
Communications & Networking | Senior Debt Matures March 2016 Interest rate Prime + 8.75% or Floor rate of 12.00% |
$ | 7,500 | $ | 6,879 | $ | 6,879 | ||||||||||
| OpenPeak, Inc.(4) |
Communications & Networking | Senior Debt Matures July 2015 Interest rate Prime + 8.75% |
$ | 15,000 | 14,589 | 14,589 | ||||||||||||
| Pac-West Telecomm, Inc. |
Communications & Networking | Senior Debt Matures October 2013 Interest rate Prime + 7.50% or Floor rate of 12.00% |
$ | 3,771 | 3,678 | 3,627 | ||||||||||||
| PeerApp, Inc.(4) |
Communications & Networking | Senior Debt Matures April 2013 Interest rate Prime + 7.50% or Floor rate of 11.50% |
$ | 1,157 | 1,226 | 1,225 | ||||||||||||
| PointOne, Inc. |
Communications & Networking | Senior Debt Matures April 2015 Interest rate Libor + 9.00% or Floor rate of 11.50% |
$ | 7,533 | 7,378 | 7,212 | ||||||||||||
| Senior Debt Matures September 2015 Interest rate Libor + 9.00% or Floor rate of 11.50% |
$ | 366 | 360 | 347 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total PointOne, Inc. |
7,738 | 7,559 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Communications & Networking (7.14%)* |
34,110 | 33,879 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
See notes to consolidated financial statements (unaudited)
5
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Box.net, Inc.(4) |
Software | Senior Debt Matures March 2015 Interest rate Prime + 3.75% or Floor rate of 7.50% |
$ | 10,000 | $ | 9,880 | $ | 9,295 | ||||||||||
| Senior Debt Matures July 2014 Interest rate Prime + 5.25% or Floor rate of 8.50% |
$ | 1,310 | 1,352 | 1,326 | ||||||||||||||
| Senior Debt Matures July 2016 Interest rate Prime + 5.13% or Floor rate of 8.88% |
$ | 20,000 | 19,999 | 20,000 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Box.net, Inc. |
31,231 | 30,621 | ||||||||||||||||
| Caplinked |
Software | Senior Debt(9) Matures May 2015 Interest rate Fixed 5.00% |
$ | 50 | 50 | 50 | ||||||||||||
| Central Desktop, Inc. |
Software | Senior Debt Matures April 2014 Interest rate Prime + 6.75% or Floor rate of 10.50% |
$ | 2,420 | 2,353 | 2,353 | ||||||||||||
| Clickfox, Inc. |
Software | Senior Debt Matures July 2013 Interest rate Prime + 6.00% or Floor rate of 11.25% |
$ | 2,817 | 2,780 | 2,775 | ||||||||||||
| Senior Debt Matures December 2012 Interest rate Fixed 10.00% |
$ | 3,000 | 3,000 | 2,903 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Clickfox, Inc. |
5,780 | 5,678 | ||||||||||||||||
| Hillcrest Laboratories, Inc |
Senior Debt Matures July 2015 Interest rate Prime + 7.50% or Floor rate of 10.75% |
$ | 4,000 | 3,896 | 3,896 | |||||||||||||
| Kxen, Inc.(4) |
Software | Senior Debt Matures January 2015 Interest rate Prime + 5.08% or Floor rate of 8.33% |
$ | 2,838 | 2,835 | 2,692 | ||||||||||||
| Tada Innovations, Inc. |
Software | Senior Debt(9) Matures August 2012 Interest rate Fixed 8.00% |
$ | 100 | 99 | 99 | ||||||||||||
| Tectura |
Software | Revolving Line of Credit Matures July 2013 Interest rate Fixed 11.00% |
$ | 17,064 | 18,162 | 18,162 | ||||||||||||
| Senior Debt Matures December 2014 Interest rate Fixed 13.00% |
$ | 6,978 | 6,865 | 6,705 | ||||||||||||||
| Senior Debt Matures April 2013 Interest rate Fixed 13.00% |
$ | 1,607 | 1,571 | 1,570 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Tectura |
26,598 | 26,437 | ||||||||||||||||
| White Sky, Inc. |
Software | Senior Debt Matures June 2014 Interest rate Prime + 7.00% or Floor rate of 10.25% |
$ | 1,164 | 1,134 | 1,134 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Software (15.37%)* |
73,976 | 72,960 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
See notes to consolidated financial statements (unaudited)
6
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Maxvision Holding, LLC.(7)(8) |
Electronics & Computer Hardware | Senior Debt Matures December 2013 Interest rate Prime + 8.25% or Floor rate of 12.00%, PIK interest 5.00% |
$ | 4,002 | $ | 3,732 | $ | 169 | ||||||||||
| Senior Debt Matures December 2013 Interest rate Prime + 6.25% or Floor rate of 10.00%, PIK interest 2.00% |
$ | 2,180 | 2,448 | — | ||||||||||||||
| Revolving Line of Credit Matures December 2013 Interest rate Prime + 6.25% or Floor rate of 10.00% |
$ | 852 | 935 | — | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Maxvision Holding, LLC |
7,115 | 169 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Electronics & Computer Hardware (0.04%)* |
7,115 | 169 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Althea Technologies, Inc. |
Specialty Pharmaceuticals | Senior Debt Matures October 2013 Interest rate Prime + 7.70% or Floor rate of 10.95% |
$ | 9,047 | 9,115 | 9,267 | ||||||||||||
| Quatrx Pharmaceuticals Company |
Specialty Pharmaceuticals | Senior Debt(9) Matures March 2014 Interest rate Fixed 8.00% |
$ | 1,888 | 1,888 | 2,252 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Specialty Pharmaceuticals (2.43%)* |
11,003 | 11,519 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Achronix Semiconductor Corporation |
Semiconductors | Senior Debt Matures January 2015 Interest rate Prime + 10.60% or Floor rate of 13.85% |
$ | 2,213 | 2,148 | 2,209 | ||||||||||||
| Kovio Inc. |
Semiconductors | Senior Debt Matures March 2015 Interest rate Prime + 5.50% or Floor rate of 9.25% |
$ | 1,250 | 1,225 | 1,150 | ||||||||||||
| Senior Debt Matures March 2015 Interest rate Prime - 3.75% or Floor rate of 9.75% |
$ | 3,000 | 2,934 | 2,789 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Kovio Inc. |
4,159 | 3,939 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Semiconductors (1.29%)* |
6,307 | 6,148 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
See notes to consolidated financial statements (unaudited)
7
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| AcelRX Pharmaceuticals, Inc.(3) |
Drug Delivery | Senior Debt Matures December 2014 Interest rate Prime + 3.25% or Floor rate of 8.50% |
$ | 10,000 | $ | 9,855 | $ | 9,473 | ||||||||||
| Senior Debt Matures December 2014 Interest rate Prime + 3.25% or Floor rate of 8.50% |
$ | 10,000 | 9,855 | 9,473 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total AcelRX Pharmaceuticals, Inc. |
19,710 | 18,946 | ||||||||||||||||
| Alexza Pharmaceuticals, Inc.(3)(4) |
Drug Delivery | Senior Debt Matures October 2013 Interest rate Prime + 6.5% or Floor rate of 10.75% |
$ | 7,849 | 8,072 | 8,072 | ||||||||||||
| BIND Biosciences, Inc. |
Drug Delivery | Senior Debt Matures July 2014 Interest rate Prime + 7.45% or Floor rate of 10.70% |
$ | 4,259 | 4,148 | 4,233 | ||||||||||||
| Intelliject, Inc.(4) |
Drug Delivery | Senior Debt Matures September 2015 Interest rate Prime + 5.75% or Floor rate of 11.00% |
$ | 15,000 | 14,294 | 14,295 | ||||||||||||
| Revance Therapeutics, Inc. |
Drug Delivery | Senior Debt Matures March 2015 Interest rate Prime + 6.60% or Floor rate of 9.85% |
$ | 22,000 | 21,643 | 21,078 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Drug Delivery (14.03%)* |
67,867 | 66,624 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Gelesis, Inc.(6) |
Therapeutic | Senior Debt Matures April 2013 Interest rate Prime + 8.75% or Floor rate of 12.00% |
$ | 3,568 | 3,809 | 3,809 | ||||||||||||
| Gynesonics, Inc. |
Therapeutic | Senior Debt Matures October 2013 Interest rate Prime + 8.25% or Floor rate of 11.50% |
$ | 4,991 | 4,905 | 4,991 | ||||||||||||
| Senior Debt(9) Matures November 2012 Interest rate Fixed 8.00% |
$ | 181 | 181 | 181 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Gynesonics, Inc. |
5,086 | 5,172 | ||||||||||||||||
| Oraya Therapeutics, Inc.(4) |
Therapeutic | Senior Debt Matures March 2015 Interest rate Prime + 4.75% or Floor rate of 9.50% |
$ | 7,500 | 7,329 | 7,265 | ||||||||||||
| Novasys Medical, Inc. |
Therapeutic | Senior Debt(9) Matures January 2013 Interest rate Fixed 8.00% |
$ | 65 | 61 | 62 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Therapeutic (3.43%)* |
16,285 | 16,308 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
See notes to consolidated financial statements (unaudited)
8
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Ahhha, Inc. |
Internet Consumer & Business Services | Senior Debt Matures January 2015 Interest rate Fixed 10.00% |
$ | 350 | $ | 346 | $ | 50 | ||||||||||
| Blurb, Inc. |
Internet Consumer & Business Services | Senior Debt Matures December 2015 Interest rate Prime + 5.25% or Floor rate 8.50% |
$ | 8,000 | 7,624 | 7,372 | ||||||||||||
| Just.Me |
Internet Consumer & Business Services | Senior Debt Matures June 2015 Interest rate Prime + 2.50% or Floor rate 5.75% |
$ | 150 | 146 | 146 | ||||||||||||
| NetPlenish |
Internet Consumer & Business Services | Senior Debt Matures April 2015 Interest rate Fixed 10.00% |
$ | 500 | 486 | 486 | ||||||||||||
| Reply! Inc.(4) |
Internet Consumer & Business Services | Senior Debt Matures June 2015 Interest rate Prime + 6.875% or Floor rate of 10.125% |
$ | 13,000 | 12,797 | 12,411 | ||||||||||||
| Internet Consumer & Business Services | Senior Debt Matures June 2015 Interest rate Prime + 7.25% or Floor rate of 11.00% |
$ | 2,000 | 1,905 | 1,905 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| 14,702 | 14,316 | |||||||||||||||||
| Second Rotation |
Internet Consumer & Business Services | Senior Debt Matures August 2015 Interest rate Prime + 6.50% or Floor rate of 10.25%, PIK Interest 2.50% |
$ | 6,000 | 5,914 | 5,914 | ||||||||||||
| Trulia, Inc.(4) |
Internet Consumer & Business Services | Senior Debt Matures March 2015 Interest rate Prime + 2.75% or Floor rate of 6.00% |
$ | 5,000 | 4,903 | 4,558 | ||||||||||||
| Senior Debt Matures March 2015 Interest rate Prime + 5.50% or Floor rate of 8.75% |
$ | 5,000 | 4,903 | 4,740 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Trulia, Inc. |
9,806 | 9,298 | ||||||||||||||||
See notes to consolidated financial statements (unaudited)
9
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Vaultlogix, Inc. |
Internet Consumer & Business Services | Senior Debt Matures September 2016 Interest rate LIBOR + 8.50% or Floor rate of 10.00%, PIK interest 2.50% |
$ | 7,500 | $ | 7,560 | $ | 7,560 | ||||||||||
| Senior Debt Matures September 2015 Interest rate LIBOR + 7.00% or Floor rate of 8.50% |
$ | 11,125 | 11,013 | 10,691 | ||||||||||||||
| Revolving Line of Credit Matures September 2015 Interest rate Libor + 6.00% or Floor rate of 7.50% |
$ | 300 | 286 | 287 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Vaultlogix, Inc. |
18,859 | 18,538 | ||||||||||||||||
| Votizen |
Internet Consumer & Business Services | Senior Debt(9) Matures February 2013 Interest rate Fixed 5.00% |
$ | 100 | 100 | 100 | ||||||||||||
| Wavemarket, Inc.(4) |
Internet Consumer & Business Services | Senior Debt Matures September 2015 Interest rate Prime + 5.75% or Floor rate of 9.50% |
$ | 10,000 | 9,787 | 9,786 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Internet Consumer & Business Services (13.90%)* |
67,770 | 66,006 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Cha Cha Search, Inc. |
Information Services | Senior Debt Matures February 2015 Interest rate Prime + 6.25% or Floor rate of 9.50% |
$ | 3,000 | 2,945 | 2,800 | ||||||||||||
| Eccentex Corporation |
Information Services | Senior Debt Matures May 2015 Interest rate Prime + 7.00% or Floor rate of 10.25% |
$ | 1,000 | 962 | 962 | ||||||||||||
| InXpo, Inc. |
Information Services | Senior Debt Matures March 2014 Interest rate Prime + 7.50% or Floor rate of 10.75% |
$ | 2,550 | 2,445 | 2,467 | ||||||||||||
| Jab Wireless, Inc. |
Information Services | Senior Debt Matures August 2016 Interest rate Prime + 5.25% or Floor rate of 6.75% |
$ | 21,902 | 21,635 | 21,635 | ||||||||||||
| RichRelevance, Inc. |
Information Services | Senior Debt Matures January 2015 Interest rate Prime + 3.25% or Floor rate of 7.50% |
$ | 5,000 | 4,925 | 4,673 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Information Services (6.85%)* |
32,912 | 32,537 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Optiscan Biomedical, Corp. |
Medical Device & Equipment | Senior Debt(9) Matures December 2013 Interest rate Prime + 8.20% or Floor rate of 11.45% |
$ | 10,056 | 10,437 | 10,437 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Medical Device & Equipment (2.20%)* |
10,437 | 10,437 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Navidea Biopharmaceuticals, Inc. (pka Neoprobe)(3) |
Diagnostic | Senior Debt Matures December 2014 Interest rate Prime + 6.75% or Floor rate of 10.00% |
$ | 7,000 | 6,822 | 6,822 | ||||||||||||
| Tethys Bioscience Inc. |
Diagnostic | Senior Debt Matures December 2015 Interest rate Prime + 8.40% or Floor rate of 11.65% |
$ | 10,000 | 9,755 | 9,755 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Diagnostic (3.49%)* |
16,577 | 16,577 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
See notes to consolidated financial statements (unaudited)
10
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| deCODE genetics ehf.(5)(10) |
Biotechnology Tools | Senior Debt Matures September 2014 Interest rate Prime + 10.25% or Floor rate of 13.50%, PIK interest 2.00% |
$ | 4,578 | $ | 4,412 | $ | 4,331 | ||||||||||
| Labcyte, Inc. |
Biotechnology Tools | Senior Debt Matures May 2013 Interest rate Prime + 8.60% or Floor rate of 11.85% |
$ | 1,613 | 1,663 | 1,663 | ||||||||||||
| Senior Debt Matures June 2016 Interest rate Prime + 6.70% or Floor rate of 9.95% |
$ | 5,000 | 4,809 | 4,809 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| 6,472 | 6,472 | |||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Biotechnology Tools (2.28%)* |
10,884 | 10,803 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| ScriptSave (Medical Security Card Company, LLC) |
Healthcare Services, Other | Senior Debt Matures February 2016 Interest rate LIBOR + 8.75% or Floor rate of 11.25% |
$ | 17,317 | 17,053 | 17,400 | ||||||||||||
| MedCall |
Healthcare Services, Other | Senior Debt Matures January 2016 Interest rate 7.79% or Floor rate of 9.50% |
$ | 5,168 | 5,078 | 5,078 | ||||||||||||
| Senior Debt Matures January 2016 Interest rate LIBOR + 8.00% or Floor rate of 10.00% |
$ | 4,250 | 4,170 | 4,170 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| 9,248 | 9,248 | |||||||||||||||||
| Pacific Child & Family Associates, LLC |
Healthcare Services, Other | Senior Debt Matures January 2015 Interest rate LIBOR + 8.00% or Floor rate of 10.50% |
$ | 3,877 | 3,904 | 3,836 | ||||||||||||
| Revolving Line of Credit Matures January 2015 Interest rate LIBOR + 6.50% or Floor rate of 9.00% |
$ | 1,500 | 1,487 | 1,411 | ||||||||||||||
| Senior Debt Matures January 2015 Interest rate LIBOR + 10.50% or Floor rate of 13.00%, PIK interest 3.75% |
$ | 5,900 | 6,412 | 6,589 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Pacific Child & Family Associates, LLC |
11,803 | 11,836 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Health Services, Other (8.11%)* |
38,104 | 38,484 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Entrigue Surgical, Inc. |
Surgical Devices | Senior Debt Matures December 2014 Interest rate Prime + 5.90% or Floor rate of 9.65% |
$ | 3,000 | 2,925 | 2,883 | ||||||||||||
| Transmedics, Inc.(4) |
Surgical Devices | Senior Debt Matures February 2014 Interest rate Prime + 9.70% or Floor rate of 12.95% |
$ | 8,375 | 8,693 | 8,694 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Surgical Devices (2.44%)* |
11,618 | 11,577 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
See notes to consolidated financial statements (unaudited)
11
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Women’s Marketing, Inc. |
Media/ Content/ Info |
Senior Debt Matures May 2016 Interest rate Libor + 9.50% or Floor rate of 12.00%, PIK interest 3.00% |
$ | 9,681 | $ | 9,820 | $ | 9,920 | ||||||||||
| Senior Debt Matures November 2015 Interest rate Libor + 7.50% or Floor rate of 10.00% |
$ | 8,819 | 8,655 | 8,653 | ||||||||||||||
| Senior Debt Matures November 2015 Interest rate Libor + 7.50% or Floor rate of 10.00% |
$ | 9,043 | 8,873 | 8,874 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Women’s Marketing, Inc. |
27,348 | 27,447 | ||||||||||||||||
| Westwood One Communications |
Media/Content/ Info |
Senior Debt Matures October 2016 Interest rate LIBOR + 6.50% or Floor rate of 8.00% |
$ | 20,831 | 19,118 | 19,479 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Media/Content/Info (9.88%)* |
46,466 | 46,926 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Alphabet Energy, Inc. |
Clean Tech | Senior Debt Matures February 2015 Interest rate Prime + 5.75% or Floor rate of 9.00% |
$ | 513 | 494 | 494 | ||||||||||||
| American Superconductor Corporation(3) |
Clean Tech | Senior Debt Matures December 2014 Interest rate Prime + 7.25% or Floor rate of 11.00% |
$ | 10,000 | 9,615 | 9,615 | ||||||||||||
| BrightSource Energy, Inc. |
Clean Tech | Senior Debt Matures November 2012 Interest rate Prime + 7.25% or Floor rate of 10.50% |
$ | 35,000 | 34,886 | 34,886 | ||||||||||||
| EcoMotors, Inc. |
Clean Tech | Senior Debt Matures February 2014 Interest rate Prime + 6.10% or Floor rate of 9.35% |
$ | 3,837 | 3,855 | 3,826 | ||||||||||||
| Enphase Energy, Inc.(3) |
Clean Tech | Senior Debt Matures June 2014 Interest rate Prime + 4.40% or Floor rate of 9.00% |
$ | 4,898 | 4,839 | 4,670 | ||||||||||||
| Glori Energy, Inc. |
Clean Tech | Senior Debt Matures June 2015 Interest rate Prime + 6.75% or Floor rate of 10.00% |
$ | 4,000 | 3,863 | 3,863 | ||||||||||||
| Integrated Photovoltaics, Inc. |
Clean Tech | Senior Debt Matures February 2015 Interest rate Prime + 7.38% or Floor rate of 10.63% |
$ | 3,000 | 2,899 | 2,839 | ||||||||||||
| Propel Biofuels, Inc. |
Clean Tech | Senior Debt Matures September 2013 Interest rate of 11.00% |
$ | 963 | 1,015 | 964 | ||||||||||||
| SCIenergy, Inc. |
Clean Tech | Senior Debt Matures October 2014 Interest rate 6.25% |
$ | 202 | 202 | 156 | ||||||||||||
| Senior Debt Matures August 2015 Interest rate Prime + 4.90% or Floor rate of 8.15% |
$ | 5,000 | 4,909 | 4,507 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total SCIenergy, Inc. |
5,111 | 4,663 | ||||||||||||||||
See notes to consolidated financial statements (unaudited)
12
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Solexel, Inc. |
Clean Tech | Senior Debt Matures June 2013 Interest rate Prime + 8.25% or Floor rate of 11.50% |
$ | 5,578 | $ | 5,547 | $ | 5,547 | ||||||||||
| Senior Debt Matures June 2013 Interest rate Prime + 7.25% or Floor rate of 10.50% |
$ | 642 | 639 | 639 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Solexel, Inc. |
6,186 | 6,186 | ||||||||||||||||
| Stion Corporation(4) |
Clean Tech | Senior Debt Matures February 2015 Interest rate Prime + 6.75% or Floor rate of 10.00% |
$ | 9,031 | 8,824 | 8,824 | ||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt Clean Tech (17.02%)* |
81,587 | 80,830 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Debt (136.29%) |
661,209 | 647,068 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Acceleron Pharmaceuticals, Inc. | Drug Discovery & Development | Common Stock Warrants | 39 | 48 | ||||||||||||||
| Preferred Stock Warrants | Series A | 69 | 312 | |||||||||||||||
| Preferred Stock Warrants | Series B | 35 | 58 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Acceleron Pharmaceuticals, Inc. | 143 | 418 | ||||||||||||||||
| Anthera Pharmaceuticals Inc.(3) | Drug Discovery & Development | Common Stock Warrants | 984 | 94 | ||||||||||||||
| Cempra, Inc.(3) | Drug Discovery & Development | Common Stock Warrants | 187 | 113 | ||||||||||||||
| Chroma Therapeutics, Ltd.(5)(10) | Drug Discovery & Development | Preferred Stock Warrants | Series D | 490 | 500 | |||||||||||||
| Concert Pharmaceuticals, Inc.(4) | Drug Discovery & Development | Preferred Stock Warrants | Series C | 367 | 119 | |||||||||||||
| Dicerna Pharmaceuticals, Inc. | Drug Discovery & Development | Common Stock Warrants | 28 | 12 | ||||||||||||||
| Preferred Stock Warrants | Series A | 236 | 126 | |||||||||||||||
| Preferred Stock Warrants | Series B | 311 | 159 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Dicerna Pharmaceuticals, Inc. | 575 | 297 | ||||||||||||||||
| EpiCept Corporation(3) | Drug Discovery & Development | Common Stock Warrants | 4 | 1 | ||||||||||||||
| Horizon Pharma, Inc.(3) | Drug Discovery & Development | Preferred Stock Warrants | Series C | 231 | 1 | |||||||||||||
| Insmed, Incorporated(3) | Drug Discovery & Development | Preferred Stock Warrants | Series C | 570 | 568 | |||||||||||||
| Merrimack Pharmaceuticals, Inc.(3) | Drug Discovery & Development | Common Stock Warrants | 155 | 897 | ||||||||||||||
| NeurogesX, Inc.(3) | Drug Discovery & Development | Common Stock Warrants | 503 | 220 | ||||||||||||||
| NextWave Pharmaceuticals, Inc.(4) | Drug Discovery & Development | Preferred Stock Warrants | Series A-1 | 126 | 179 | |||||||||||||
| PolyMedix, Inc.(3) | Drug Discovery & Development | Common Stock Warrants | 480 | 15 | ||||||||||||||
| Portola Pharmaceuticals, Inc. | Drug Discovery & Development | Preferred Stock Warrants | Series B | 152 | 198 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Drug Discovery & Development (0.76%)* | 4,967 | 3,620 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Affinity Videonet, Inc. | Communications & Networking | Preferred Stock Warrants | Series A | 102 | 180 | |||||||||||||
| Bridgewave Communications | Communications & Networking | Preferred Stock Warrants | Series 5 | 752 | 740 | |||||||||||||
| IKANO Communications, Inc. | Communications & Networking | Preferred Stock Warrants | Series D | 72 | — | |||||||||||||
| Intelepeer, Inc. | Communications & Networking | Preferred Stock Warrants | Series C | 102 | 179 | |||||||||||||
| Neonova Holding Company | Communications & Networking | Preferred Stock Warrants | Series A | 94 | 47 | |||||||||||||
| OpenPeak, Inc.(4) | Communications & Networking | Preferred Stock Warrants | Series E | 149 | 138 | |||||||||||||
| Pac-West Telecomm, Inc. | Communications & Networking | Common Stock Warrants | 121 | — | ||||||||||||||
| PeerApp, Inc.(4) | Communications & Networking | Preferred Stock Warrants | Series B | 61 | 37 | |||||||||||||
See notes to consolidated financial statements (unaudited)
13
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||
| Peerless Network, Inc. | Communications & Networking | Preferred Stock Warrants | Series A | $ | 95 | $ | 264 | |||||||||
| Ping Identity Corporation | Communications & Networking | Preferred Stock Warrants | Series B | 52 | 130 | |||||||||||
| PointOne, Inc. | Communications & Networking | Common Stock Warrants | 131 | 14 | ||||||||||||
| Purcell Systems, Inc. | Communications & Networking | Preferred Stock Warrants | Series B | 123 | 115 | |||||||||||
| Stoke, Inc. | Communications & Networking | Preferred Stock Warrants | Series C | 53 | 134 | |||||||||||
| Preferred Stock Warrants | Series D | 65 | 56 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Stoke, Inc. | 118 | 190 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Communications & Networking (0.43%)* | 1,972 | 2,034 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Atrenta, Inc. |
Software | Preferred Stock Warrants | Series C | 136 | 643 | |||||||||||
| Preferred Stock Warrants | Series D | 95 | 224 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Atrenta, Inc. |
231 | 867 | ||||||||||||||
| Box.net, Inc.(4) |
Software | Preferred Stock Warrants | Series C | 117 | 1,598 | |||||||||||
| Preferred Stock Warrants | Series B | 72 | 2,337 | |||||||||||||
| Preferred Stock Warrants | Series D-1 | 194 | 241 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Box.net, Inc. |
383 | 4,176 | ||||||||||||||
| Braxton Technologies, LLC. |
Software | Preferred Stock Warrants | Series A | 188 | — | |||||||||||
| Central Desktop, Inc. |
Software | Preferred Stock Warrants | Series B | 108 | 188 | |||||||||||
| Clickfox, Inc. |
Software | Preferred Stock Warrants | Series B | 329 | 540 | |||||||||||
| Daegis Inc. (pka Unify Corporation)(3) |
Software | Common Stock Warrants | 1,434 | 19 | ||||||||||||
| Forescout Technologies, Inc. |
Software | Preferred Stock Warrants | Series D | 99 | 155 | |||||||||||
| HighRoads, Inc. |
Software | Preferred Stock Warrants | Series B | 44 | 9 | |||||||||||
| Hillcrest Laboratories, Inc. |
Software | Preferred Stock Warrants | Series E | 55 | 25 | |||||||||||
| Kxen, Inc.(4) |
Software | Preferred Stock Warrants | Series D | 47 | 19 | |||||||||||
| Rockyou, Inc. |
Software | Preferred Stock Warrants | Series B | 117 | — | |||||||||||
| SugarSync Inc. |
Software | Preferred Stock Warrants | Series CC | 78 | 151 | |||||||||||
| Preferred Stock Warrants | Series DD | 34 | 38 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total SugarSync Inc. |
112 | 189 | ||||||||||||||
| Tada Innovations, Inc. |
Software | Preferred Stock Warrants | Series A | 25 | 30 | |||||||||||
| Tectura Corporation |
Software | Preferred Stock Warrants | Series B-1 | 51 | 14 | |||||||||||
| White Sky, Inc. |
Software | Preferred Stock Warrants | Series B-2 | 54 | 5 | |||||||||||
| WildTangent, Inc. |
Software | Preferred Stock Warrants | Series 3A | 238 | 100 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Software (1.34%)* |
3,515 | 6,336 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Luminous Devices, Inc. |
Electronics & Computer Hardware | Common Stock Warrants | 601 | — | ||||||||||||
| Shocking Technologies, Inc. |
Electronics & Computer Hardware | Preferred Stock Warrants | Series A-1 | 63 | 47 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrant Electronics & Computer Hardware (0.01%)* |
664 | 47 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Althea Technologies, Inc. |
Specialty Pharmaceuticals | Preferred Stock Warrants | Series D | 309 | 447 | |||||||||||
| Pacira Pharmaceuticals, Inc.(3) |
Specialty Pharmaceuticals | Common Stock Warrants | 1,086 | 1,222 | ||||||||||||
| Quatrx Pharmaceuticals Company |
Specialty Pharmaceuticals | Preferred Stock Warrants | Series E | 528 | — | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Specialty Pharmaceuticals (0.35%)* |
1,923 | 1,669 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| IPA Holdings, LLC |
Consumer & Business Products | Common Stock Warrants | 275 | 163 | ||||||||||||
| Market Force Information, Inc. |
Consumer & Business Products | Preferred Stock Warrants | Series A | 24 | 139 | |||||||||||
| Seven Networks, Inc. |
Consumer & Business Products | Preferred Stock Warrants | Series C | 174 | 204 | |||||||||||
| Wageworks, Inc.(3) |
Consumer & Business Products | Common Stock Warrants | 252 | 1,484 | ||||||||||||
| Wavemarket, Inc.(4) |
Consumer & Business Products | Preferred Stock Warrants | Series E | 106 | 61 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrant Consumer & Business Products (0.43%)* |
831 | 2,051 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements (unaudited)
14
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||
| Achronix Semiconductor Corporation |
Semiconductors | Preferred Stock Warrants | Series D | $ | 160 | $ | 136 | |||||||||
| Enpirion, Inc. |
Semiconductors | Preferred Stock Warrants | Series D | 157 | — | |||||||||||
| iWatt, Inc. |
Semiconductors | Preferred Stock Warrants | Series C | 45 | 23 | |||||||||||
| Preferred Stock Warrants | Series D | 583 | 475 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total iWatt, Inc. |
628 | 498 | ||||||||||||||
| Kovio Inc. |
Semiconductors | Preferred Stock Warrants | Series B | 92 | — | |||||||||||
| Quartics, Inc. |
Semiconductors | Preferred Stock Warrants | Series C | 53 | — | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Semiconductors (0.13%)* |
1,090 | 634 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| AcelRX Pharmaceuticals, Inc.(3) |
Drug Delivery | Common Stock Warrants | 357 | 285 | ||||||||||||
| Alexza Pharmaceuticals, Inc.(3)(4) |
Drug Delivery | Common Stock Warrants | 645 | 19 | ||||||||||||
| BIND Biosciences, Inc. |
Drug Delivery | Preferred Stock Warrants | Series C-1 | 291 | 485 | |||||||||||
| Intelliject, Inc.(4) |
Drug Delivery | Preferred Stock Warrants | Series B | 594 | 602 | |||||||||||
| Merrion Pharma, Plc.(3)(5)(10) |
Drug Delivery | Common Stock Warrants | 210 | 100 | ||||||||||||
| Revance Therapeutics, Inc. |
Drug Delivery | Preferred Stock Warrants | Series D | 557 | 473 | |||||||||||
| Transcept Pharmaceuticals, Inc.(3) |
Drug Delivery | Common Stock Warrants | 87 | 93 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrant Drug Delivery (0.43%)* |
2,741 | 2,057 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| EKOS Corporation |
Therapeutic | Preferred Stock Warrants | Series C | 327 | — | |||||||||||
| Gelesis, Inc.(6) |
Therapeutic | Preferred Stock Warrants | Series A-1 | 78 | 110 | |||||||||||
| Light Science Oncology, Inc. |
Therapeutic | Preferred Stock Warrants | Series B | 99 | — | |||||||||||
| Novasys Medical, Inc. |
Therapeutic | Preferred Stock Warrants | Series D | 131 | 16 | |||||||||||
| Oraya Therapeutics, Inc.(4) |
Therapeutic | Preferred Stock Warrants | Series C | 550 | 221 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Therapeutic (0.07%)* |
1,185 | 347 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Blurb, Inc. |
Internet Consumer & Business Services | Preferred Stock Warrants | Series B | 323 | 655 | |||||||||||
| Preferred Stock Warrants | Series C | 636 | 411 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Blurb, Inc. |
959 | 1,066 | ||||||||||||||
| Cozi Group, Inc. |
Internet Consumer & Business Services | Preferred Stock Warrants | Series A | 147 | — | |||||||||||
| Invoke Solutions, Inc. |
Internet Consumer & Business Services | Common Stock Warrants | 82 | — | ||||||||||||
| Just.Me |
Internet Consumer & Business Services | Preferred Stock Warrants | Series A | 20 | 25 | |||||||||||
| Prism Education Group, Inc. |
Internet Consumer & Business Services | Preferred Stock Warrants | Series B | 43 | — | |||||||||||
| RazorGator Interactive Group, Inc. |
Internet Consumer & Business Services | Preferred Stock Warrants | Series C | 1,224 | — | |||||||||||
| Reply! Inc.(4) |
Internet Consumer & Business Services | Preferred Stock Warrants | Series B | 320 | 598 | |||||||||||
| Second Rotation |
Internet Consumer & Business Services | Preferred Stock Warrants | Series D | 57 | 30 | |||||||||||
| Trulia, Inc.(4) |
Internet Consumer & Business Services | Preferred Stock Warrants | Series D | 188 | 763 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Internet Consumer & Business Services (0.52%)* |
3,040 | 2,482 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements (unaudited)
15
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||
| Buzznet, Inc. |
Information Services | Preferred Stock Warrants | Series B | $ | 9 | $ | — | |||||||||
| Cha Cha Search, Inc. |
Information Services | Preferred Stock Warrants | Series F |
58 | 1 | |||||||||||
| Eccentex Corporation |
Information Services | Preferred Stock Warrants | Series A | 31 | 3 | |||||||||||
| Intelligent Beauty, Inc. |
Information Services | Preferred Stock Warrants | Series B | 230 | 467 | |||||||||||
| InXpo, Inc. |
Information Services | Preferred Stock Warrants | Series C | 98 | 46 | |||||||||||
| Preferred Stock Warrants | Series C-1 | 17 | 17 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total InXpo, Inc. |
115 | 63 | ||||||||||||||
| Magi.com (pka Hi5 Networks, Inc.) |
Information Services | Preferred Stock Warrants | Series B | 213 | — | |||||||||||
| Jab Wireless, Inc. |
Information Services | Preferred Stock Warrants | Series A | 265 | 355 | |||||||||||
| RichRelevance, Inc. |
Information Services | Preferred Stock Warrants | Series D | 98 | 32 | |||||||||||
| Solutionary, Inc. |
Information Services | Preferred Stock Warrants | Series E | 96 | 2 | |||||||||||
| Zeta Interactive Corporation |
Information Services | Preferred Stock Warrants | Series A | 172 | — | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Information Services (0.19%)* |
1,287 | 923 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Optiscan Biomedical, Corp. |
Medical Device & Equipment | Preferred Stock Warrants | Series B | 680 | 388 | |||||||||||
| Preferred Stock Warrants | Series C | 389 | 357 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Optiscan Biomedical, Corp. |
1,069 | 745 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Medical Device & Equipment (0.16%)* |
1,069 | 745 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Navidea Biopharmaceuticals, Inc. (pka Neoprobe)(3) |
Diagnostic | Common Stock Warrants | 245 | 563 | ||||||||||||
| Tethys Bioscience, Inc. |
Diagnostic | Preferred Stock Warrants | Series E | 147 | 147 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Diagnostic (0.15%) |
392 | 710 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| deCODE genetics ehf.(5)(10) |
Biotechnology Tools | Preferred Stock Warrants | Series A-2 | 305 | 378 | |||||||||||
| Labcyte, Inc. |
Biotechnology Tools | Preferred Stock Warrants | Series C | 323 | 401 | |||||||||||
| NuGEN Technologies, Inc. |
Biotechnology Tools | Preferred Stock Warrants | Series B | 45 | 135 | |||||||||||
| Preferred Stock Warrants | Series C | 33 | 7 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total NuGEN Technologies, Inc. |
78 | 142 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Biotechnology Tools (0.20%)* |
706 | 921 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Entrigue Surgical, Inc. |
Surgical Devices | Preferred Stock Warrants | Series B | 87 | 39 | |||||||||||
| Transmedics, Inc.(4) |
Surgical Devices | Preferred Stock Warrants | Series B | 225 | — | |||||||||||
| Gynesonics, Inc. |
Surgical Devices | Preferred Stock Warrants | Series A | 18 | 7 | |||||||||||
| Preferred Stock Warrants | Series C | 365 | 273 | |||||||||||||
|
|
|
|
|
|||||||||||||
| 383 | 280 | |||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Surgical Devices (0.07%)* |
695 | 319 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Everyday Health, Inc. (pka Waterfront Media, Inc.) |
Media/Content/ Info | Preferred Stock Warrants | Series C | 60 | 245 | |||||||||||
| Glam Media, Inc. |
Media/Content/ Info | Preferred Stock Warrants | Series D | 482 | — | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Media/Content/Info (0.05%)* |
542 | 245 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Alphabet Energy, Inc. |
Clean Tech | Preferred Stock Warrants | Series A | 32 | 75 | |||||||||||
| American Supercondutor Corporation(3) |
Clean Tech | Common Stock Warrants | 245 | 300 | ||||||||||||
| BrightSource Energy, Inc. |
Clean Tech | Preferred Stock Warrants | Series D | 675 | 601 | |||||||||||
| Calera, Inc. |
Clean Tech | Preferred Stock Warrants | Series C | 513 | 173 | |||||||||||
| EcoMotors, Inc. |
Clean Tech | Preferred Stock Warrants | Series B | 308 | 691 | |||||||||||
| Enphase Energy, Inc.(3) |
Clean Tech | Common Stock Warrants | 102 | 65 | ||||||||||||
| Glori Energy, Inc. |
Clean Tech | Preferred Stock Warrants | Series C | 165 | 93 | |||||||||||
| GreatPoint Energy, Inc. |
Clean Tech | Preferred Stock Warrants | Series D-1 | 548 | 15 | |||||||||||
| Integrated Photovoltaics, Inc. |
Clean Tech | Preferred Stock Warrants | Series A-1 | 82 | 121 | |||||||||||
| Lilliputian Systems, Inc. |
Clean Tech | Preferred Stock Warrants | Series C | 106 | — | |||||||||||
| Common Stock Warrants | 49 | — | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Lilliputian Systems, Inc. |
155 | — | ||||||||||||||
| Propel Biofuels, Inc. |
Clean Tech | Preferred Stock Warrants | Series C | 211 | 392 | |||||||||||
| SCIenergy, Inc.(4) |
Clean Tech | Preferred Stock Warrants | Series C | 138 | 25 | |||||||||||
| Solexel, Inc. |
Clean Tech | Preferred Stock Warrants | Series B | 1,161 | 110 | |||||||||||
| Stion Corporation(4) |
Clean Tech | Preferred Stock Warrants | Series E | 317 | 250 | |||||||||||
| Trilliant, Inc. |
Clean Tech | Preferred Stock Warrants | Series A | 161 | 65 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants Clean Tech (0.63%)* |
4,813 | 2,976 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Warrants (5.92%) |
31,432 | 28,116 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements (unaudited)
16
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||
| Aegerion Pharmaceuticals, Inc.(3) |
Drug Discovery & Development | Common Stock | $ | 150 | $ | 1,136 | ||||||||||
| Aveo Pharmaceuticals, Inc.(3) |
Drug Discovery & Development | Common Stock | 842 | 2,041 | ||||||||||||
| Dicerna Pharmaceuticals, Inc. |
Drug Discovery & Development | Preferred Stock | Series B | 501 | 357 | |||||||||||
| Inotek Pharmaceuticals Corp. |
Drug Discovery & Development | Preferred Stock | Series C | 1,500 | — | |||||||||||
| Merrimack Pharmaceuticals, Inc.(3) |
Drug Discovery & Development | Common Stock | 2,000 | 3,978 | ||||||||||||
| Paratek Pharmaceuticals, Inc. |
Drug Discovery & Development | Preferred Stock | Series H | 1,000 | 455 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Drug Discovery & Development (1.68%)* |
5,993 | 7,967 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Acceleron Pharmaceuticals, Inc. |
Drug Delivery | Preferred Stock | Series C | 243 | 186 | |||||||||||
| Preferred Stock | Series E | 98 | 158 | |||||||||||||
| Preferred Stock | Series F | 60 | 70 | |||||||||||||
| Preferred Stock | Series B | 1,000 | 828 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Acceleron Pharmaceuticals, Inc. |
1,401 | 1,242 | ||||||||||||||
| Merrion Pharma, Plc.(3)(5)(10) |
Drug Delivery | Common Stock | 8 | 5 | ||||||||||||
| Transcept Pharmaceuticals, Inc.(3) |
Drug Delivery | Common Stock | 500 | 258 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Drug Delivery (0.32%)* |
1,909 | 1,505 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| E-band Communications, Corp.(6) |
Communications & Networking | Preferred Stock | Series B | 2,000 | 497 | |||||||||||
| Preferred Stock | Series C | 372 | 182 | |||||||||||||
| Preferred Stock | Series D | 508 | 288 | |||||||||||||
| Preferred Stock | Series E | 374 | 537 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total E-band Communications, Corp. |
3,254 | 1,504 | ||||||||||||||
| Neonova Holding Company |
Communications & Networking | Preferred Stock | Series A | 250 | 245 | |||||||||||
| Peerless Network, Inc. |
Communications & Networking | Preferred Stock | Series A | 1,000 | 2,984 | |||||||||||
| Stoke, Inc. |
Communications & Networking | Preferred Stock | Series E | 500 | 625 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Communications & Networking (1.13%)* |
5,004 | 5,358 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Atrenta, Inc. |
Software | Preferred Stock | Series D | 250 | 375 | |||||||||||
| Box.net, Inc.(4) |
Software | Preferred Stock | Series C | 500 | 3,625 | |||||||||||
| Preferred Stock | Series D | 500 | 1,467 | |||||||||||||
| Preferred Stock | Series D-1 | 1,000 | 1,155 | |||||||||||||
| Preferred Stock | Series D-2 | 2,001 | 2,049 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Box.net, Inc. |
4,001 | 8,296 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Software (1.83%)* |
4,251 | 8,671 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Maxvision Holding, LLC.(7)(8) |
Electronics & Computer Hardware | Preferred Stock | Series A | 3,500 | — | |||||||||||
| Preferred Stock | LLC interest | 81 | — | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Maxvision Holding, LLC. |
3,581 | — | ||||||||||||||
| Spatial Photonics, Inc. |
Electronics & Computer Hardware | Preferred Stock | Series D | 268 | — | |||||||||||
| Virident Systems |
Electronics & Computer Hardware | Preferred Stock | Series D | 5,000 | 4,987 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Electronics & Computer Hardware (1.05%)* |
8,849 | 4,987 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Quatrx Pharmaceuticals Company |
Specialty Pharmaceuticals | Preferred Stock | Series E | 750 | — | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Specialty Pharmaceuticals (0.00%)* |
750 | — | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements (unaudited)
17
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||
| Caivis Acquisition Corporation |
Consumer & Business Products | Common Stock | Series A | $ | 880 | $ | 642 | |||||||||
| Facebook, Inc.(3) |
Consumer & Business Products | Common Stock | Series B | 9,557 | 9,145 | |||||||||||
| IPA Holdings, LLC |
Consumer & Business Products | Preferred Stock | LLC interest | 500 | 530 | |||||||||||
| Market Force Information, Inc. |
Consumer & Business Products | Preferred Stock | Series B | 500 | 517 | |||||||||||
| Wageworks, Inc.(3) |
Consumer & Business Products | Common Stock | Series D | 250 | 290 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Consumer & Business Products (2.34%)* |
11,687 | 11,124 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| iWatt, Inc. |
Semiconductors | Preferred Stock | Series E | 491 | 1,234 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Semiconductors (0.26%)* |
491 | 1,234 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Gelesis, Inc.(6) |
Therapeutic | Common Stock | — | 526 | ||||||||||||
| Preferred Stock | Series A-1 | 425 | 711 | |||||||||||||
| Preferred Stock | Series A-2 | 500 | 537 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Gelesis, Inc. |
925 | 1,774 | ||||||||||||||
| Novasys Medical, Inc. |
Therapeutic | Preferred Stock | Series D-1 | 1,000 | 808 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Therapeutic (0.54%)* |
1,925 | 2,582 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Cozi Group, Inc. |
Internet Consumer & Business Services | Preferred Stock | Series B | 179 | 20 | |||||||||||
| RazorGator Interactive Group, Inc. |
Internet Consumer & Business Services | Preferred Stock | Series A | 1,000 | — | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Internet Consumer & Business Services (0.00%)* |
1,179 | 20 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Buzznet, Inc. |
Information Services | Preferred Stock | Series C | 250 | — | |||||||||||
| Good Technologies, Inc. (pka Visto Corporation) |
Information Services | Common Stock | 604 | 100 | ||||||||||||
| Magi.com (pka Hi5 Networks, Inc.) |
Information Services | Preferred Stock | Series C | 250 | 247 | |||||||||||
| Solutionary, Inc. |
Information Services | Preferred Stock | Series A-1 | 17 | 177 | |||||||||||
| Preferred Stock | Series A-2 | 326 | 74 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Solutionary, Inc. |
343 | 251 | ||||||||||||||
| Zeta Interactive Corporation |
Information Services | Preferred Stock | Series A | 500 | — | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Information Services (0.13%)* |
1,947 | 598 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Optiscan Biomedical, Corp. |
Medical Device & Equipment | Preferred Stock | Series B | 3,000 | 1,502 | |||||||||||
| Preferred Stock | Series C | 655 | 608 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Optiscan Biomedical, Corp. |
3,655 | 2,110 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Medical Device & Equipment (0.44%)* |
3,655 | 2,110 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| NuGEN Technologies, Inc. |
Biotechnology Tools | Preferred Stock | Series C | 500 | 504 | |||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Biotechnology Tools (0.11%)* |
500 | 504 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Transmedics, Inc.(4) |
Surgical Devices | Preferred Stock | Series C | 300 | — | |||||||||||
| Preferred Stock | Series B | 1,100 | — | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Transmedics, Inc. |
1,400 | — | ||||||||||||||
| Gynesonics, Inc. |
Surgical Devices | Preferred Stock | Series B | 250 | 150 | |||||||||||
| Preferred Stock | Series C | 282 | 239 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Total Gynesonics, Inc. |
532 | 389 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Surgical Devices (0.08%)* |
1,932 | 389 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements (unaudited)
18
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
June 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||
| Everyday Health, Inc. (pka Waterfront Media, Inc.) |
Media/ Content/ Info |
Preferred Stock | Series D | $ | 1,000 | $ | 580 | |||||||||
|
|
|
|
|
|||||||||||||
| Total Equity Media/Content/Info (0.12%)* |
1,000 | 580 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Equity (10.03%) |
51,072 | 47,629 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Investments (152.24%) |
$ | 743,713 | $ | 722,813 | ||||||||||||
|
|
|
|
|
|||||||||||||
| * | Value as a percent of net assets |
| (1) | Preferred and common stock, warrants, and equity interests are generally non-income producing. |
| (2) | Gross unrealized appreciation, gross unrealized depreciation, and net depreciation for federal income tax purposes totaled $17,539, $35,500 and $17,961 respectively. The tax cost of investments is $748,632. |
| (3) | Except for warrants in 18 publicly traded companies and common stock in seven publicly traded companies, all investments are restricted at June 30, 2012 and were valued at fair value as determined in good faith by the Board of Directors. No unrestricted securities of the same issuer are outstanding. The Company uses the Standard Industrial Code for classifying the industry grouping of its portfolio companies. |
| (4) | Debt investments of this portfolio company have been pledged as collateral under the Wells Facility. |
| (5) | Non-U.S. company or the company’s principal place of business is outside the United States. |
| (6) | Affiliate investment that is defined under the Investment Company Act of 1940 as companies in which the Company owns at least 5% but not more than 25% of the voting securities of the company. |
| (7) | Control investment that is defined under the Investment Company Act of 1940 as companies in which the Company owns at least 25% of the voting securities of the company, or has greater than 50% representation on its board. |
| (8) | Debt is on non-accrual status at June 30, 2012, and is therefore considered non-income producing. |
| (9) | Convertible Senior Debt |
| (10) | Indicates assets that the Company deems not “qualifying assets” under section 55(a) of the Investment Company Act of 1940, as amended. Qualifying assets must represent at least 70% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. |
See notes to consolidated financial statements (unaudited)
19
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2011
(dollars in thousands)
| Portfolio Company |
Industry | Type of Investment(1) |
Principal Amount |
Cost(2) | Value(3) | |||||||||||
| Anthera Pharmaceuticals Inc. |
Drug Discovery & Development |
Senior Debt Matures September 2014 |
$ | 25,000 | $ | 24,433 | $ | 25,183 | ||||||||
| Aveo Pharmaceuticals, Inc. |
Drug Discovery & Development |
Senior Debt Matures June 2014 |
$ | 25,000 | 25,360 | 26,110 | ||||||||||
| Dicerna Pharmaceuticals, Inc. |
Drug Discovery & Development |
Senior Debt Matures January 2015 |
$ | 12,000 | 11,665 | 11,665 | ||||||||||
| NextWave Pharmaceuticals, Inc. |
Drug Discovery & Development |
Senior Debt Matures June 2015 |
$ | 6,000 | 5,925 | 5,926 | ||||||||||
| Concert Pharmaceuticals |
Drug Discovery & Development |
Senior Debt Matures July 2015 |
$ | 7,500 | 7,350 | 7,350 | ||||||||||
| PolyMedix, Inc. |
Drug Discovery & Development |
Senior Debt Matures September 2013 |
$ | 6,763 | 6,594 | 6,729 | ||||||||||
| Aegerion Pharmaceuticals, Inc. |
Drug Discovery & Development |
Senior Debt Matures September 2014 |
$ | 10,000 | 10,070 | 10,070 | ||||||||||
| Chroma Therapeutics, Ltd.(5) |
Drug Discovery & Development |
Senior Debt Matures September 2013 |
$ | 7,633 | 7,958 | 7,879 | ||||||||||
| NeurogesX, Inc. |
Drug Discovery & Development |
Senior Debt Matures February 2015 |
$ | 15,000 | 14,558 | 14,558 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Drug Discovery & Development (26.79%)* |
|
113,913 | 115,470 | |||||||||||||
|
|
|
|
|
|||||||||||||
| E-band Communications, Corp.(6) |
Communications & Networking |
Convertible Senior |
$ | 356 | 356 | — | ||||||||||
| Intelepeer, Inc. |
Communications & Networking |
Senior Debt |
$ | 6,524 | 6,346 | 6,476 | ||||||||||
| Senior Debt Matures May 2012 Interest rate Prime + 4.25% |
$ | 1,100 | 1,100 | 1,070 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Intelepeer, Inc. |
7,446 | 7,546 | ||||||||||||||
| Ahhha, Inc. |
Communications & Networking |
Senior Debt Matures January 2015 Interest rate Fixed 10.00% |
$ | 350 | 345 | 345 | ||||||||||
| Pac-West Telecomm, Inc. |
Communications & Networking |
Senior Debt |
$ | 4,369 | 4,196 | 4,196 | ||||||||||
| PeerApp, Inc. |
Communications & Networking |
Senior Debt |
$ | 1,776 | 1,814 | 1,835 | ||||||||||
| PointOne, Inc. |
Communications & Networking |
Senior Debt |
$ | 8,308 | 8,107 | 8,100 | ||||||||||
| Stoke, Inc(4) |
Communications & Networking |
Senior Debt |
$ | 2,627 | 2,586 | 2,612 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Communications & Networking (5.71%)* |
24,850 | 24,634 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements.
20
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
December 31, 2011
(dollars in thousands)
| Portfolio Company |
Industry | Type of Investment(1) |
Principal Amount |
Cost(2) | Value(3) | |||||||||||
| Central Desktop, Inc. |
Software | Senior Debt |
$ | 3,000 | $ | 2,894 | $ | 2,954 | ||||||||
| Clickfox, Inc. |
Software | Senior Debt |
$ | 3,999 | 3,920 | 4,000 | ||||||||||
| Kxen, Inc. |
Software | Senior Debt |
$ | 3,000 | 2,958 | 2,858 | ||||||||||
| RichRelevance, Inc. |
Software | Senior Debt |
$ | 5,000 | 4,879 | 4,879 | ||||||||||
| Blurb, Inc |
Software | Senior Debt |
$ | 5,000 | 4,873 | 4,873 | ||||||||||
| SugarSync Inc. |
Software | Senior Debt |
$ | 2,000 | 1,950 | 1,950 | ||||||||||
| White Sky, Inc. |
Software | Senior Debt |
$ | 1,418 | 1,357 | 1,400 | ||||||||||
| Tada Innovations, Inc. |
Software | Senior Debt |
$ | 100 | 90 | 90 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Software (5.34%)* |
22,921 | 23,004 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements.
21
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
December 31, 2011
(dollars in thousands)
| Portfolio Company |
Industry | Type of Investment(1) |
Principal Amount |
Cost(2) | Value(3) | |||||||||||
| Maxvision Holding, LLC.(7) |
Electronics & Computer Hardware |
Senior Debt |
$ | 4,185 | $ | 4,143 | $ | — | ||||||||
| Senior Debt |
$ | 2,539 | 2,515 | — | ||||||||||||
| Revolving Line of Credit |
$ | 892 | 1,027 | 1,027 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Maxvision Holding, LLC |
7,685 | 1,027 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Electronics & Computer Hardware (0.24%)* |
7,685 | 1,027 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Althea Technologies, Inc. |
Specialty Pharmaceuticals |
Senior Debt |
$ | 10,359 | 10,315 | 10,584 | ||||||||||
| Pacira Pharmaceuticals, Inc. |
Specialty Pharmaceuticals |
Senior Debt |
$ | 11,250 | 11,257 | 11,397 | ||||||||||
| Senior Debt |
$ | 15,000 | 14,386 | 14,574 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Pacira Pharmaceuticals, Inc. |
25,643 | 25,971 | ||||||||||||||
| Quatrx Pharmaceuticals Company |
Specialty Pharmaceuticals |
Convertible Senior Debt |
$ | 1,888 | 1,888 | 1,888 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Specialty Pharmaceuticals (8.92%)* |
37,846 | 38,443 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Achronix Semiconductor Corporation |
Semiconductors | Senior Debt |
$ | 2,500 | 2,329 | 2,329 | ||||||||||
| Kovio Inc. |
Semiconductors | Senior Debt |
$ | 1,250 | 1,218 | 1,218 | ||||||||||
| Senior Debt |
$ | 3,000 | 2,910 | 2,910 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Kovio Inc. |
4,128 | 4,128 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Semiconductors (1.50%)* |
6,457 | 6,457 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements.
22
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
December 31, 2011
(dollars in thousands)
| Portfolio Company |
Industry | Type of Investment(1) |
Principal Amount |
Cost(2) | Value(3) | |||||||||||
| AcelRX Pharmaceuticals, Inc. |
Drug Delivery | Senior Debt |
$ | 10,000 | $ | 9,773 | $ | 9,579 | ||||||||
| Senior Debt |
$ | 10,000 | 9,772 | 9,578 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total AcelRX Pharmaceuticals, Inc. |
19,545 | 19,157 | ||||||||||||||
| Alexza Pharmaceuticals, Inc. (4) |
Drug Delivery | Senior Debt |
$ | 10,497 | 10,537 | 10,695 | ||||||||||
| BIND Biosciences, Inc. |
Drug Delivery | Senior Debt |
$ | 5,000 | 4,730 | 4,880 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total BIND Biosciences, Inc. |
4,730 | 4,880 | ||||||||||||||
| Merrion Pharma, Plc.(5) |
Drug Delivery | Senior Debt |
$ | 5,000 | 4,765 | 3,819 | ||||||||||
| Revance Therapeutics, Inc. |
Drug Delivery | Senior Debt |
$ | 22,000 | 21,379 | 21,379 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Drug Delivery (13.90%)* |
60,956 | 59,930 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Gelesis, Inc. (8) |
Therapeutic | Senior Debt |
$ | 3,428 | 3,514 | 3,254 | ||||||||||
| Gynesonics, Inc. |
Therapeutic | Senior Debt |
$ | 5,336 | 5,309 | 5,383 | ||||||||||
| Oraya Therapeutics, Inc. |
Therapeutic | Senior Debt |
$ | 7,500 | 7,377 | 7,377 | ||||||||||
| Pacific Child & Family Associates, LLC |
Therapeutic | Senior Debt |
$ | 4,965 | 4,932 | 4,932 | ||||||||||
| Revolving Line of Credit |
$ | 1,500 | 1,485 | 1,412 | ||||||||||||
| Senior Debt |
$ | 5,900 | 6,259 | 6,436 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Pacific Child & Family Associates, LLC |
12,676 | 12,780 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Therapeutic (6.68%)* |
28,876 | 28,794 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements.
23
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
December 31, 2011
(dollars in thousands)
| Portfolio Company |
Industry | Type of Investment(1) |
Principal Amount |
Cost(2) | Value(3) | |||||||||||
| InXpo, Inc. | Internet Consumer & Business Services |
Senior Debt |
$ | 3,192 | $ | 3,083 | $ | 3,147 | ||||||||
| Westwood One Communications | Internet Consumer & Business Services |
Senior Debt |
$ | 21,000 | 19,059 | 19,479 | ||||||||||
| Reply! Inc.(4) | Internet Consumer & Business Services |
Senior Debt |
$ | 13,000 | 12,877 | 13,131 | ||||||||||
| MedCall | Internet Consumer & Business Services |
Senior Debt |
$ | 5,168 | 5,051 | 5,051 | ||||||||||
| ScriptSave (Medical Security Card Company, LLC) |
Internet Consumer & Business Services |
Senior Debt |
$ | 19,646 | 19,307 | 19,896 | ||||||||||
| Trulia, Inc. | Internet Consumer & Business Services |
Senior Debt |
$ | 5,000 | 4,871 | 4,871 | ||||||||||
| Senior Debt |
$ | 5,000 | 4,871 | 4,871 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Trulia, Inc. |
9,742 | 9,742 | ||||||||||||||
| Vaultlogix, Inc. | Internet Consumer & Business Services |
Senior Debt |
$ | 7,500 | 7,441 | 7,441 | ||||||||||
| Senior Debt |
$ | 11,500 | 11,335 | 11,335 | ||||||||||||
| Revolving Line of Credit |
$ | 300 | 284 | 284 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Vaultlogix, Inc. |
19,060 | 19,060 | ||||||||||||||
| Tectura Corporation |
Internet Consumer & Business Services |
Senior Debt |
$ | 5,625 | 6,834 | 6,834 | ||||||||||
| Revolving Line of Credit |
$ | 2,500 | 2,556 | 2,556 | ||||||||||||
| Revolving Line of Credit |
$ | 17,487 | 17,738 | 17,738 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Tectura Corporation |
27,128 | 27,128 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Internet Consumer & Business Services (27.06%) |
115,307 | 116,634 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements.
24
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
December 31, 2011
(dollars in thousands)
| Portfolio Company |
Industry | Type of Investment(1) |
Principal Amount |
Cost(2) | Value(3) | |||||||||||
| Box.net, Inc. |
Information Services | Senior Debt |
$ | 9,647 | $ | 9,432 | $ | 9,432 | ||||||||
| Senior Debt |
$ | 1,590 | 1,613 | 1,645 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Box.net, Inc. |
11,045 | 11,077 | ||||||||||||||
| Cha Cha Search, Inc. |
Information Services | Senior Debt |
$ | 3,000 | 2,926 | 2,903 | ||||||||||
| Jab Wireless, Inc. |
Information Services | Senior Debt |
$ | 20,272 | 19,993 | 19,993 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Information Services (7.88%) |
33,964 | 33,973 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Optiscan Biomedical, Corp. |
Diagnostic | Senior Debt |
$ | 10,750 | 10,884 | 11,147 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Diagnostic (2.59%)* |
10,884 | 11,147 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| deCODE genetics ehf. |
Biotechnology Tools | Senior Debt |
$ | 5,000 | 4,664 | 4,664 | ||||||||||
| Labcyte, Inc. |
Biotechnology Tools | Senior Debt |
$ | 2,416 | 2,425 | 2,479 | ||||||||||
| Cempra Holdings LLC |
Biotechnology Tools | Senior Debt |
$ | 10,000 | 9,721 | 9,721 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Biotechnology Tools (3.91%)* |
16,810 | 16,864 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Entrigue Surgical, Inc. |
Surgical Devices | Senior Debt |
$ | 3,000 | 2,879 | 2,879 | ||||||||||
| Transmedics, Inc.(4) |
Surgical Devices | Senior Debt |
$ | 8,375 | 8,602 | 8,602 | ||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Surgical Devices (2.66%)* |
11,481 | 11,481 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements.
25
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
December 31, 2011
(dollars in thousands)
| Portfolio Company |
Industry | Type of Investment(1) |
Principal Amount |
Cost(2) | Value(3) | |||||||||||
| Neoprobe Corporation |
Media/Content/Info | Senior Debt |
$ | 7,000 | $ | 6,733 | $ | 6,733 | ||||||||
| Women’s Marketing, Inc. |
Media/Content/Info | Senior Debt |
$ | 10,000 | 9,956 | 10,156 | ||||||||||
| Senior Debt |
$ | 9,710 | 9,503 | 9,896 | ||||||||||||
| Senior Debt |
$ | 9,956 | 9,744 | 9,744 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total Women’s Marketing, Inc. |
29,203 | 29,796 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Debt Media/Content/Info (8.47%)* |
35,936 | 36,529 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| BrightSource Energy, Inc.(4) |
Clean Tech | Senior Debt |
$ | 11,250 | 11,122 | 11,122 | ||||||||||
| Senior Debt |
$ | 13,750 | 13,593 | 13,593 | ||||||||||||
|
|
|
|
|
|||||||||||||
| Total BrightSource Energy, Inc. |
24,715 | 24,715 | ||||||||||||||
| EcoMotors, Inc. |
Clean Tech | Senior Debt |
$ | 4,879 | 4,713 | 4,859 | ||||||||||
| Enphase Energy, Inc. |
Clean Tech | Senior Debt |
$ | 4,898 | 4,784 | 4,748 | ||||||||||
| NanoSolar, Inc. |
Clean Tech | Senior Debt |
$ | 9,212 | 8,795 | 8,795 | ||||||||||
| Integrated Photovoltaics |
Clean Tech | Senior Debt |
$ | 3,000 | 2,875 | 2,875 | ||||||||||
| Propel Biofuels, Inc. |
Clean Tech | Senior Debt |
$ | |||||||||||||