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 September 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 October 29, 2012, there were 52,884,820 shares outstanding of the Registrant’s common stock, $0.001 par value.
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
FORM 10-Q TABLE OF CONTENTS
| 3 | ||||||
| Item 1. |
3 | |||||
| 3 | ||||||
| Consolidated Schedule of Investments as of September 30, 2012 (unaudited) |
4 | |||||
| Consolidated Schedule of Investments as of December 31, 2011 |
19 | |||||
| 33 | ||||||
| 34 | ||||||
| 35 | ||||||
| 36 | ||||||
| Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
57 | ||||
| Item 3. |
85 | |||||
| Item 4. |
86 | |||||
| 87 | ||||||
| Item 1. |
87 | |||||
| Item 1A. |
87 | |||||
| Item 2. |
94 | |||||
| Item 3. |
94 | |||||
| Item 4. |
94 | |||||
| Item 5. |
94 | |||||
| Item 6. |
94 | |||||
| 95 | ||||||
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)
| September 30, 2012 (unaudited) |
December 31, 2011 |
|||||||
| Assets |
||||||||
| Investments: |
||||||||
| Non-control/Non-affiliate investments (cost of $788,526 and $642,038, respectively) |
$ | 771,184 | $ | 651,843 | ||||
| Affiliate investments (cost of $4,256 and $3,236, respectively) |
3,275 | — | ||||||
| Control investments (cost of $0 and $11,266, respectively) |
— | 1,027 | ||||||
|
|
|
|
|
|||||
| Total investments, at value (cost of $792,782 and $656,540, respectively) |
774,459 | 652,870 | ||||||
| Cash and cash equivalents |
107,093 | 64,474 | ||||||
| Interest receivable |
7,774 | 5,820 | ||||||
| Other assets |
20,187 | 24,230 | ||||||
|
|
|
|
|
|||||
| Total assets |
$ | 909,513 | $ | 747,394 | ||||
|
|
|
|
|
|||||
| Liabilities |
||||||||
| Accounts payable and accrued liabilities |
$ | 9,491 | $ | 10,813 | ||||
| Wells Fargo Loan |
— | 10,187 | ||||||
| Notes Payable |
159,490 | — | ||||||
| Long-term Liabilities (Convertible Senior Notes) |
71,165 | 70,353 | ||||||
| Long-term SBA Debentures |
200,250 | 225,000 | ||||||
|
|
|
|
|
|||||
| Total liabilities |
440,396 | 316,353 | ||||||
| Commitments and Contingencies (Note 10) |
||||||||
| Net assets consist of: |
||||||||
| Common stock, par value |
51 | 44 | ||||||
| Capital in excess of par value |
535,707 | 484,244 | ||||||
| Unrealized depreciation on investments |
(18,618 | ) | (3,431 | ) | ||||
| Accumulated realized losses on investments |
(40,993 | ) | (43,042 | ) | ||||
| Distributions in excess of investment income |
(7,030 | ) | (6,774 | ) | ||||
| Total net assets |
469,117 | 431,041 | ||||||
|
|
|
|
|
|||||
| Total liabilities and net assets |
$ | 909,513 | $ | 747,394 | ||||
|
|
|
|
|
|||||
| Shares of common stock outstanding ($0.001 par value, 100,000,000 authorized) |
49,785 | 43,853 | ||||||
| Net asset value per share |
$ | 9.42 | $ | 9.83 | ||||
See notes to consolidated financial statements (unaudited)
3
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
September 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% |
$ | 22,799 | $ | 22,828 | $ | 22,929 | ||||||||||||||
| 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 | 9,827 | 9,529 | ||||||||||||||||
| Chroma Therapeutics, Ltd.(5)(10) |
Drug Discovery & Development | Senior Debt | ||||||||||||||||||
| Matures November 2013 Interest rate Prime + 7.75% or Floor rate of 12.00% |
$ | 4,727 | 5,339 | 3,313 | ||||||||||||||||
| 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 | 19,576 | 18,520 | ||||||||||||||||
| Coronado BioSciences, Inc.(3) |
Drug Discovery & Development | Senior Debt | ||||||||||||||||||
| Matures March 2016 Interest rate Prime + 6.00% or Floor rate of 9.25% |
$ | 15,000 | 14,684 | 14,684 | ||||||||||||||||
| Dicerna Pharmaceuticals, Inc. |
Drug Discovery & Development | Senior Debt | ||||||||||||||||||
| Matures January 2015 Interest rate Prime + 5.75% or Floor rate of 10.15% |
$ | 10,136 | 9,931 | 9,822 | ||||||||||||||||
| Insmed, Incorporated(3) |
Drug Discovery & Development | Senior Debt | ||||||||||||||||||
| Matures January 2016 Interest rate Prime + 4.75% or Floor rate of 9.25% |
$ | 10,000 | 9,648 | 9,648 | ||||||||||||||||
| NeurogesX, Inc.(3) |
Drug Discovery & Development | Senior Debt | ||||||||||||||||||
| Matures February 2015 Interest rate Prime + 6.25% or Floor rate of 9.50% |
$ | 14,559 | 14,507 | 14,295 | ||||||||||||||||
| 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 | 5,982 | 5,862 | ||||||||||||||||
| Paratek Pharmaceuticals, Inc. |
Drug Discovery & Development | Senior Debt(9) | ||||||||||||||||||
| Matures upon liquidation Interest rate Fixed 10.00% |
$ | 45 | 45 | 45 | ||||||||||||||||
| Senior Debt(9) | ||||||||||||||||||||
| Matures upon liquidation Interest rate Fixed 10.00% |
$ | 36 | 31 | 31 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Paratek Pharmaceuticals, Inc. |
76 | 76 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Drug Discovery & Development (28.93%)* |
138,898 | 135,708 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
See notes to consolidated financial statements (unaudited)
4
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 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 | $ | 6,946 | $ | 6,778 | ||||||||||||||
| OpenPeak, Inc.(4) |
Communications & Networking | Senior Debt | ||||||||||||||||||
| Matures July 2015 Interest rate Prime + 8.75% or Floor rate of 12.00% |
$ | 15,000 | 14,809 | 14,958 | ||||||||||||||||
| Pac-West Telecomm, Inc. |
Communications & Networking | Senior Debt | ||||||||||||||||||
| Matures October 2013 Interest rate Prime + 7.50% or Floor rate of 12.00% |
$ | 3,458 | 3,400 | 3,320 | ||||||||||||||||
| PeerApp, Inc.(4) |
Communications & Networking | Senior Debt | ||||||||||||||||||
| Matures April 2013 Interest rate Prime + 7.50% or Floor rate of 11.50% |
$ | 834 | 914 | 914 | ||||||||||||||||
| PointOne, Inc. |
Communications & Networking | Senior Debt | ||||||||||||||||||
| Matures April 2015 Interest rate Libor + 9.00% or Floor rate of 11.50% |
$ | 7,333 | 7,195 | 6,881 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures September 2015 Interest rate Libor + 9.00% or Floor rate of 11.50% |
$ | 356 | 351 | 330 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total PointOne, Inc. |
7,546 | 7,211 | ||||||||||||||||||
|
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|
|
|
|||||||||||||||||
| Total Debt Communications & Networking (7.08%)* |
33,615 | 33,181 | ||||||||||||||||||
|
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|
|
|
|||||||||||||||||
| Box, Inc.(4) |
Software | Senior Debt | ||||||||||||||||||
| Matures March 2015 Interest rate Prime + 3.75% or Floor rate of 7.50% |
$ | 10,000 | 9,904 | 9,425 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures July 2014 Interest rate Prime + 5.25% or Floor rate of 8.50% |
$ | 1,165 | 1,216 | 1,205 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures July 2016 Interest rate Prime + 5.13% or Floor rate of 8.88% |
$ | 20,000 | 20,064 | 19,529 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Box, Inc. |
31,184 | 30,159 | ||||||||||||||||||
| Caplinked |
Software | Senior Debt(9) | ||||||||||||||||||
| Matures May 2015 Interest rate Fixed 5.00% |
$ | 50 | 50 | 50 | ||||||||||||||||
| Clickfox, Inc. |
Software | Senior Debt | ||||||||||||||||||
| Matures November 2015 Interest rate Prime + 8.25% or Floor rate of 11.50% |
$ | 8,000 | 7,213 | 7,453 | ||||||||||||||||
| EndPlay,Inc. |
Software |
Senior Debt | ||||||||||||||||||
| Matures August 2015 Interest rate Prime + 7.35% or Floor rate 10.6% |
$ | 2,000 | 1,914 | 1,914 | ||||||||||||||||
| Hillcrest Laboratories, Inc |
Software | Senior Debt | ||||||||||||||||||
| Matures July 2015 Interest rate Prime + 7.50% or Floor rate of 10.75% |
$ | 4,000 | 3,910 | 3,909 | ||||||||||||||||
| JackBe Corporation |
Software | Senior Debt | ||||||||||||||||||
| Matures January 2016 Interest rate Prime + 7.25% or Floor rate of 10.50% |
$ | 3,000 | 2,882 | 2,882 | ||||||||||||||||
See notes to consolidated financial statements (unaudited)
5
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||||
| Kxen, Inc.(4) |
Software | Senior Debt | ||||||||||||||||||
| Matures January 2015 Interest rate Prime + 5.08% or Floor rate of 8.33% |
$ | 2,590 | $ | 2,608 | $ | 2,422 | ||||||||||||||
| Tada Innovations, Inc. |
Software | Senior Debt(9) | ||||||||||||||||||
| Matures November 2012 Interest rate Fixed 8.00% |
$ | 100 | 100 | 100 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Software (10.42%)* |
49,861 | 48,889 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Althea Technologies, Inc. |
Specialty Pharmaceuticals | Senior Debt | ||||||||||||||||||
| Matures October 2013 Interest rate Prime + 7.70% or Floor rate of 10.95% |
$ | 8,364 | 8,537 | 8,538 | ||||||||||||||||
| Quatrx Pharmaceuticals Company |
Specialty Pharmaceuticals | Senior Debt(9) | ||||||||||||||||||
| Matures March 2014 Interest rate Fixed 8.00% |
$ | 1,888 | 1,888 | 2,346 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Specialty Pharmaceuticals (2.32%)* |
10,425 | 10,884 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Achronix Semiconductor Corporation |
Semiconductors | Senior Debt | ||||||||||||||||||
| Matures January 2015 Interest rate Prime + 10.60% or Floor rate of 13.85% |
$ | 2,034 | 1,979 | 1,980 | ||||||||||||||||
| Kovio Inc. |
Semiconductors | Senior Debt | ||||||||||||||||||
| Matures March 2015 Interest rate Prime + 5.50% or Floor rate of 9.25% |
$ | 1,216 | 1,194 | 1,106 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures March 2015 Interest rate Prime - 3.75% or Floor rate of 9.75% |
$ | 2,836 | 2,782 | 2,603 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Kovio Inc. |
3,976 | 3,709 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Semiconductors (1.20%)* |
5,955 | 5,689 | ||||||||||||||||||
|
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|
|
|
|||||||||||||||||
| AcelRX Pharmaceuticals, Inc.(3) |
Drug Delivery | Senior Debt | ||||||||||||||||||
| Matures December 2014 Interest rate Prime + 3.25% or Floor rate of 8.50% |
$ | 9,097 | 8,994 | 8,753 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures December 2014 Interest rate Prime + 3.25% or Floor rate of 8.50% |
$ | 9,097 | 8,994 | 8,752 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total AcelRX Pharmaceuticals, Inc. |
17,988 | 17,505 | ||||||||||||||||||
| Alexza Pharmaceuticals, Inc.(3)(4) |
Drug Delivery | Senior Debt | ||||||||||||||||||
| Matures October 2013 Interest rate Prime + 6.50% or Floor rate of 10.75% |
$ | 6,470 | 6,771 | 6,772 | ||||||||||||||||
| BIND Biosciences, Inc. |
Drug Delivery | Senior Debt | ||||||||||||||||||
| Matures July 2014 Interest rate Prime + 7.45% or Floor rate of 10.70% |
$ | 3,799 | 3,744 | 3,820 | ||||||||||||||||
| Intelliject, Inc.(4) |
Drug Delivery | Senior Debt | ||||||||||||||||||
| Matures September 2015 Interest rate Prime + 5.75% or Floor rate of 11.00% |
$ | 15,000 | 14,485 | 14,485 | ||||||||||||||||
| Revance Therapeutics, Inc. |
Drug Delivery | Senior Debt | ||||||||||||||||||
| Matures March 2015 Interest rate Prime + 6.60% or Floor rate of 9.85% |
$ | 20,248 | 20,016 | 19,710 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Drug Delivery (13.28%)* |
63,004 | 62,292 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
See notes to consolidated financial statements (unaudited)
6
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||||
| Ahhha, Inc.(8) |
Internet Consumer & Business Services | Senior Debt | ||||||||||||||||||
| Matures January 2015 Interest rate Fixed 10.00% |
$ | 350 | $ | 347 | $ | — | ||||||||||||||
| Blurb, Inc. |
Internet Consumer & Business Services | Senior Debt | ||||||||||||||||||
| Matures December 2015 Interest rate Prime + 5.25% or Floor rate 8.50% |
$ | 8,000 | 7,667 | 7,576 | ||||||||||||||||
| Education Dynamics, LLC |
Internet Consumer & Business Services | Senior Debt | ||||||||||||||||||
| Matures March 2016 Interest rate LIBOR + 9.50%, PIK Interest 1.50% |
$ | 27,500 | 26,889 | 26,889 | ||||||||||||||||
| Just.Me, Inc. |
Internet Consumer & Business Services | Senior Debt | ||||||||||||||||||
| Matures June 2015 Interest rate Prime + 2.50% or Floor rate 5.75% |
$ | 600 | 584 | 584 | ||||||||||||||||
| Loku, Inc. |
Internet Consumer & Business Services | Senior Debt(9) | ||||||||||||||||||
| Matures June 2013 Interest rate Fixed 6.00% |
$ | 100 | 100 | 100 | ||||||||||||||||
| NetPlenish, Inc. |
Internet Consumer & Business Services | Senior Debt | ||||||||||||||||||
| Matures April 2015 Interest rate Fixed 10.00% |
$ | 500 | 488 | 456 | ||||||||||||||||
| Reply! Inc.(4) |
Internet Consumer & Business Services | Senior Debt | ||||||||||||||||||
| Matures June 2015 Interest rate Prime + 6.875% or Floor rate of 10.125% |
$ | 12,068 | 11,895 | 11,719 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures June 2015 Interest rate Prime + 7.25% or Floor rate of 11.00% |
$ | 2,000 | 1,926 | 1,926 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Reply! Inc. |
13,821 | 13,645 | ||||||||||||||||||
| Second Rotation, Inc. |
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 | 5,966 | 5,966 | ||||||||||||||||
| Internet Consumer & Business Services | Senior Debt | |||||||||||||||||||
| Matures August 2015 Interest rate Prime + 6.50% or Floor rate of 10.25% , PIK Interest 1.50% |
$ | 2,000 | 1,927 | 1,927 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Second Rotation, Inc. |
7,893 | 7,893 | ||||||||||||||||||
| Tectura Corporation |
Internet Consumer & Business Services | Revolving Line of Credit | ||||||||||||||||||
| Matures July 2013 Interest rate Fixed 11.00% |
$ | 16,404 | 16,419 | 16,098 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures December 2014 Interest rate Fixed 13.00% |
$ | 6,978 | 7,776 | 7,699 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures April 2013 Interest rate Fixed 13.00% |
$ | 1,390 | 1,471 | 1,471 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
See notes to consolidated financial statements (unaudited)
7
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||||
| Total Tectura Corporation |
25,666 | 25,268 | ||||||||||||||||||
| Trulia, Inc.(3)(4) |
Internet Consumer & Business Services | Senior Debt | ||||||||||||||||||
| Matures March 2015 Interest rate Prime + 2.75% or Floor rate of 6.00% |
$ | 5,000 | $ | 4,914 | $ | 4,567 | ||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures March 2015 Interest rate Prime + 5.50% or Floor rate of 8.75% |
$ | 5,000 | 4,914 | 4,780 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Trulia, Inc. |
9,828 | 9,347 | ||||||||||||||||||
| 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 | 7,620 | 6,874 | ||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures September 2015 Interest rate LIBOR + 7.00% or Floor rate of 8.50% |
$ | 10,850 | 10,761 | 10,025 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Vaultlogix, Inc. |
18,381 | 16,899 | ||||||||||||||||||
| Votizen, Inc. |
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 | 9,814 | 9,814 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Internet Consumer & Business Services (25.28%)* |
121,578 | 118,571 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Cha Cha Search, Inc. |
Information Services | Senior Debt | ||||||||||||||||||
| Matures February 2015 Interest rate Prime + 6.25% or Floor rate of 9.50% |
$ | 2,912 | 2,866 | 2,803 | ||||||||||||||||
| Eccentex Corporation |
Information Services | Senior Debt | ||||||||||||||||||
| Matures May 2015 Interest rate Prime + 7.00% or Floor rate of 10.25% |
$ | 1,000 | 968 | 968 | ||||||||||||||||
| InXpo, Inc. |
Information Services | Senior Debt | ||||||||||||||||||
| Matures March 2014 Interest rate Prime + 7.50% or Floor rate of 10.75% |
$ | 2,550 | 2,457 | 2,423 | ||||||||||||||||
| Jab Wireless, Inc. |
Information Services | Senior Debt | ||||||||||||||||||
| Matures August 2016 Interest rate Prime + 5.25% or Floor rate of 6.75% |
$ | 25,773 | 25,459 | 25,386 | ||||||||||||||||
| RichRelevance, Inc. |
Information Services | Senior Debt | ||||||||||||||||||
| Matures January 2015 Interest rate Prime + 3.25% or Floor rate of 7.50% |
$ | 4,702 | 4,647 | 4,534 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Information Services (7.70%)* |
36,397 | 36,114 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Gynesonics, Inc. |
Medical Device & Equipment | Senior Debt | ||||||||||||||||||
| Matures October 2013 Interest rate Prime + 8.25% or Floor rate of 11.50% |
$ | 4,726 | 4,736 | 4,798 | ||||||||||||||||
| Senior Debt(9) | ||||||||||||||||||||
| Matures November 2012 Interest rate Fixed 8.00% |
$ | 253 | 202 | 202 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
See notes to consolidated financial statements (unaudited)
8
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||||
| Total Gynesonics, Inc. |
4,938 | 5,000 | ||||||||||||||||||
| Lanx, Inc. |
Medical Device & Equipment | Senior Debt | ||||||||||||||||||
| Matures October 2016 Interest rate Prime + 6.50% or Floor rate of 10.25% |
$ | 15,000 | $ | 14,239 | $ | 14,239 | ||||||||||||||
| Medical Device & Equipment | Revolving Line of Credit | |||||||||||||||||||
| Matures October 2015 Interest rate Prime + 5.25% or Floor rate of 9.00% |
$ | 5,500 | 5,287 | 5,287 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Lanx, Inc. |
19,526 | 19,526 | ||||||||||||||||||
| Novasys Medical, Inc. |
Medical Device & Equipment | Senior Debt(9) | ||||||||||||||||||
| Matures January 2013 Interest rate Fixed 8.00% |
$ | 65 | 63 | 63 | ||||||||||||||||
| Senior Debt(9) | ||||||||||||||||||||
| Matures August 2013 Interest rate Fixed 8.00% |
$ | 22 | 20 | 20 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Novasys Medical, Inc. |
83 | 83 | ||||||||||||||||||
| Optiscan Biomedical, Corp. |
Medical Device & Equipment | Senior Debt | ||||||||||||||||||
| Matures December 2013 Interest rate Prime + 8.00% or Floor rate of 11.45% |
$ | 8,260 | 8,747 | 2,500 | ||||||||||||||||
| Senior Debt(9) | ||||||||||||||||||||
| Matures April 2013 Interest rate Fixed 8.00% |
$ | 288 | 288 | — | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Optiscan Biomedical, Corp. |
9,035 | 2,500 | ||||||||||||||||||
| Oraya Therapeutics, Inc.(4) |
Medical Device & Equipment | Senior Debt(9) | ||||||||||||||||||
| Matures December 2013 Interest rate Fixed 7.00% |
$ | 500 | 500 | 500 | ||||||||||||||||
| Senior Debt | ||||||||||||||||||||
| Matures September 2015 Interest rate Prime + 5.50% or Floor rate of 10.25% |
$ | 10,000 | 9,765 | 9,563 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Oraya Therapeutics, Inc. |
10,265 | 10,063 | ||||||||||||||||||
| USHIFU, LLC |
Medical Device & Equipment | Senior Debt | ||||||||||||||||||
| Matures April 2016 Interest rate Prime + 7.75% or Floor rate of 11.00% |
$ | 6,000 | 5,200 | 5,200 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Medical Device & Equipment (9.03%)* |
49,047 | 42,372 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Navidea Biopharmaceuticals, Inc. (pka Neoprobe)(3) |
Diagnostic | Senior Debt | ||||||||||||||||||
| Matures December 2014 Interest rate Prime + 6.75% or Floor rate of 10.00% |
$ | 6,380 | 6,271 | 6,314 | ||||||||||||||||
| Tethys Bioscience Inc. |
Diagnostic | Senior Debt | ||||||||||||||||||
| Matures December 2015 Interest rate Prime + 8.40% or Floor rate of 11.65% |
$ | 10,000 | 9,852 | 9,852 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Diagnostic (3.45%)* |
16,123 | 16,166 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
See notes to consolidated financial statements (unaudited)
9
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
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% |
$ | 4,143 | $ | 4,045 | $ | 4,128 | ||||||||||||||
| Labcyte, Inc. |
Biotechnology Tools | Senior Debt | ||||||||||||||||||
| Matures May 2013 Interest rate Prime + 8.60% or Floor rate of 11.85% |
$ | 1,194 | 1,257 | 1,257 | ||||||||||||||||
| Senior Debt | ||||||||||||||||||||
| Matures June 2016 Interest rate Prime + 6.70% or Floor rate of 9.95% |
$ | 5,000 | 4,847 | 4,846 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Labcyte, Inc. |
6,104 | 6,103 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Biotechnology Tools (2.18%)* |
10,149 | 10,231 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| MedCall, LLC |
Healthcare Services, Other | Senior Debt | ||||||||||||||||||
| Matures January 2016 Interest rate 7.79% or Floor rate of 9.50% |
$ | 5,038 | 4,961 | 4,680 | ||||||||||||||||
| Senior Debt | ||||||||||||||||||||
| Matures January 2016 Interest rate LIBOR +8.00% or Floor rate of 10.00% |
$ | 4,144 | 4,070 | 4,071 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total MedCall, LLC |
9,031 | 8,751 | ||||||||||||||||||
| Pacific Child & Family Associates, LLC |
Healthcare Services, Other | Senior Debt | ||||||||||||||||||
| Matures January 2015 Interest rate LIBOR + 8.00% or Floor rate of 10.50% |
$ | 3,511 | 3,554 | 3,486 | ||||||||||||||||
| Revolving Line of Credit |
||||||||||||||||||||
| Matures January 2015 Interest rate LIBOR + 6.50% or Floor rate of 9.00% |
$ | 1,500 | 1,488 | 1,312 | ||||||||||||||||
| Senior Debt | ||||||||||||||||||||
| Matures January 2015 Interest rate LIBOR + 10.50% or Floor rate of 13.00%, PIK interest 3.75% |
$ | 5,900 | 6,490 | 6,344 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Pacific Child & Family Associates, LLC |
11,532 | 11,142 | ||||||||||||||||||
| 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% |
$ | 16,804 | 16,568 | 16,252 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Health Services, Other (7.70%)* |
37,131 | 36,145 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Entrigue Surgical, Inc. |
Surgical Devices | Senior Debt | ||||||||||||||||||
| Matures December 2014 Interest rate Prime + 5.90% or Floor rate of 9.65% |
$ | 2,735 | 2,683 | 2,646 | ||||||||||||||||
| Transmedics, Inc.(4) |
Surgical Devices | Senior Debt | ||||||||||||||||||
| Matures February 2014 Interest rate Prime + 9.70% or Floor rate of 12.95% |
$ | 7,660 | 8,019 | 8,019 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Surgical Devices (2.27%)* |
10,702 | 10,665 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
See notes to consolidated financial statements (unaudited)
10
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||||
| Westwood One Communications |
Media/Content/ Info | Senior Debt | ||||||||||||||||||
| Matures October 2016 Interest rate LIBOR + 6.50% or Floor rate of 8.00% |
$ | 20,606 | $ | 19,014 | $ | 18,804 | ||||||||||||||
| 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 | 9,912 | 9,678 | ||||||||||||||||
| Matures November 2015 Interest rate Libor + 7.50% or Floor rate of 10.00% |
$ | 8,449 | 8,304 | 7,959 | ||||||||||||||||
| Matures November 2015 Interest rate Libor + 7.50% or Floor rate of 10.00% |
$ | 8,663 | 8,515 | 8,160 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Women’s Marketing, Inc. |
26,731 | 25,797 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Media/Content/Info (9.51%)* |
45,745 | 44,601 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Alphabet Energy, Inc. |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures February 2015 Interest rate Prime + 5.75% or Floor rate of 9.00% |
$ | 962 | 916 | 890 | ||||||||||||||||
| American Supercondutor Corporation(3) |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures December 2014 Interest rate Prime + 7.25% or Floor rate of 11.00% |
$ | 10,000 | 9,780 | 9,780 | ||||||||||||||||
| BrightSource Energy, Inc. |
Clean Tech | |||||||||||||||||||
| Senior Debt |
||||||||||||||||||||
| Matures November 2012 Interest rate Prime + 7.25% or Floor rate of 10.50% |
$ | 35,000 | 34,992 | 34,992 | ||||||||||||||||
| EcoMotors, Inc. |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures February 2014 Interest rate Prime + 6.10% or Floor rate of 9.35% |
$ | 3,297 | 3,369 | 3,347 | ||||||||||||||||
| Enphase Energy, Inc.(3) |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures June 2014 Interest rate Prime + 4.40% or Floor rate of 9.00% |
$ | 4,335 | 4,297 | 4,164 | ||||||||||||||||
| Glori Energy, Inc. |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures June 2015 Interest rate Prime + 6.75% or Floor rate of 10.00% |
$ | 8,000 | 7,754 | 7,754 | ||||||||||||||||
| Integrated Photovoltaics, Inc. |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures February 2015 Interest rate Prime + 7.38% or Floor rate of 10.63% |
$ | 2,832 | 2,742 | 2,668 | ||||||||||||||||
| Propel Biofuels, Inc. |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures September 2013 Interest rate of 11.00% |
$ | 770 | 823 | 823 | ||||||||||||||||
| SCIenergy, Inc.(4) |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures September 2015 Interest rate Prime + 8.75% or Floor rate 12.00% |
$ | 5,296 | 5,012 | 5,170 | ||||||||||||||||
| Solexel, Inc. |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures June 2013 Interest rate Prime + 8.25% or Floor rate of 11.50% |
$ | 4,251 | 4,235 | 4,235 | ||||||||||||||||
See notes to consolidated financial statements (unaudited)
11
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||||
| Senior Debt | ||||||||||||||||||||
| Matures June 2013 Interest rate Prime + 7.25% or Floor rate of 10.50% |
$ | 489 | $ | 487 | $ | 487 | ||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Solexel, Inc. |
4,722 | 4,722 | ||||||||||||||||||
| Stion Corporation(4) |
Clean Tech | Senior Debt | ||||||||||||||||||
| Matures February 2015 Interest rate Prime + 6.75% or Floor rate of 10.00% |
$ | 8,286 | 8,170 | 7,957 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt Clean Tech (17.54%)* |
82,577 | 82,267 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Debt (147.89%) |
711,207 | 693,775 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Acceleron Pharmaceuticals, Inc. |
Drug Discovery & Development | Common Stock Warrants | 39 | 53 | ||||||||||||||||
| Preferred Stock Warrants | Series A | 69 | 340 | |||||||||||||||||
| Preferred Stock Warrants | Series B | 35 | 63 | |||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Warrants Acceleron Pharmaceuticals, Inc. |
143 | 456 | ||||||||||||||||||
| Anthera Pharmaceuticals Inc.(3) |
Drug Discovery & Development | Common Stock Warrants | 984 | 141 | ||||||||||||||||
| Cempra, Inc.(3) |
Drug Discovery & Development | Common Stock Warrants | 187 | 67 | ||||||||||||||||
| Chroma Therapeutics, Ltd.(5)(10) |
Drug Discovery & Development | Preferred Stock Warrants | Series D | 490 | — | |||||||||||||||
| Concert Pharmaceuticals, Inc.(4) |
Drug Discovery & Development | Preferred Stock Warrants | Series C | 367 | 121 | |||||||||||||||
| Coronado Biosciences, Inc.(3) |
Drug Discovery & Development | Common Stock Warrants | 142 | 109 | ||||||||||||||||
| Dicerna Pharmaceuticals, Inc. |
Drug Discovery & Development | Common Stock Warrants | 28 | 12 | ||||||||||||||||
| Preferred Stock Warrants | Series A | 236 | 128 | |||||||||||||||||
| Preferred Stock Warrants | Series B | 311 | 160 | |||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Warrants Dicerna Pharmaceuticals, Inc. |
575 | 300 | ||||||||||||||||||
| EpiCept Corporation(3) |
Drug Discovery & Development | Common Stock Warrants | 4 | — | ||||||||||||||||
| Horizon Pharma, Inc.(3) |
Drug Discovery & Development | Common Stock Warrants | 231 | — | ||||||||||||||||
| Insmed, Incorporated(3) |
Drug Discovery & Development | Common Stock Warrants | 570 | 840 | ||||||||||||||||
| Merrimack Pharmaceuticals, Inc.(3) |
Drug Discovery & Development | Common Stock Warrants | 155 | 1,347 | ||||||||||||||||
| NeurogesX, Inc.(3) |
Drug Discovery & Development | Common Stock Warrants | 503 | 126 | ||||||||||||||||
| NextWave Pharmaceuticals, Inc.(4) |
Drug Discovery & Development | Preferred Stock Warrants | Series A-1 | 126 | 370 | |||||||||||||||
| PolyMedix, Inc.(3) |
Drug Discovery & Development | Common Stock Warrants | 480 | 8 | ||||||||||||||||
| Portola Pharmaceuticals, Inc. |
Drug Discovery & Development | Preferred Stock Warrants | Series B | 152 | 288 | |||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Total Warrants Drug Discovery & Development (0.89%)* |
5,109 | 4,173 | ||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| Bridgewave Communications |
Communications & Networking | Preferred Stock Warrants | Series 5 | 753 | 720 | |||||||||||||||
| Intelepeer, Inc. |
Communications & Networking | Preferred Stock Warrants | Series C | 102 | 116 | |||||||||||||||
See notes to consolidated financial statements (unaudited)
12
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Neonova Holding Company |
Communications & Networking | Preferred Stock Warrants | Series A | $ | 94 | $ | 45 | |||||||||||
| OpenPeak, Inc.(4) |
Communications & Networking | Preferred Stock Warrants | Series E | 149 | 19 | |||||||||||||
| Pac-West Telecomm, Inc. |
Communications & Networking | Common Stock Warrants | 121 | — | ||||||||||||||
| PeerApp, Inc.(4) |
Communications & Networking | Preferred Stock Warrants | Series B | 61 | 37 | |||||||||||||
| Peerless Network, Inc. |
Communications & Networking | Preferred Stock Warrants | Series A | 94 | 264 | |||||||||||||
| Ping Identity Corporation |
Communications & Networking | Preferred Stock Warrants | Series B | 52 | 125 | |||||||||||||
| PointOne, Inc. |
Communications & Networking | Common Stock Warrants | 131 | 10 | ||||||||||||||
| Purcell Systems, Inc. |
Communications & Networking | Preferred Stock Warrants | Series B | 123 | 147 | |||||||||||||
| Stoke, Inc. |
Communications & Networking | Preferred Stock Warrants | Series C | 53 | 125 | |||||||||||||
| Preferred Stock Warrants | Series D | 65 | 52 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Stoke, Inc. |
118 | 177 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Communications & Networking (0.35%)* |
1,798 | 1,660 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Atrenta, Inc. |
Software | Preferred Stock Warrants | Series C | 136 | 779 | |||||||||||||
| Preferred Stock Warrants | Series D | 95 | 261 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Atrenta, Inc. |
231 | 1,040 | ||||||||||||||||
| Box, Inc.(4) |
Software | Preferred Stock Warrants | Series C | 117 | 2,235 | |||||||||||||
| Preferred Stock Warrants | Series B | 72 | 3,242 | |||||||||||||||
| Preferred Stock Warrants | Series D-1 | 194 | 566 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Box, Inc. |
383 | 6,043 | ||||||||||||||||
| Braxton Technologies, LLC. |
Software | Preferred Stock Warrants | Series A | 188 | — | |||||||||||||
| Central Desktop, Inc. |
Software | Preferred Stock Warrants | Series B | 108 | 258 | |||||||||||||
| Clickfox, Inc. |
Software | Preferred Stock Warrants | Series B | 329 | 595 | |||||||||||||
| Preferred Stock Warrants | Series C | 730 | 727 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Clickfox, Inc. |
1,059 | 1,322 | ||||||||||||||||
| Daegis Inc. (pka Unify Corporation)(3) |
Software | Common Stock Warrants | 1,434 | 62 | ||||||||||||||
| Endplay, Inc. |
Software | Preferred Stock Warrants | Series B | 67 | 34 | |||||||||||||
| Forescout Technologies, Inc. |
Software | Preferred Stock Warrants | Series D | 99 | 163 | |||||||||||||
| HighRoads, Inc. |
Software | Preferred Stock Warrants | Series B | 45 | 8 | |||||||||||||
| Hillcrest Laboratories, Inc. |
Software | Preferred Stock Warrants | Series E | 55 | 23 | |||||||||||||
| JackBe Corporation |
Software | Preferred Stock Warrants | Series C | 73 | 73 | |||||||||||||
| Kxen, Inc.(4) |
Software | Preferred Stock Warrants | Series D | 47 | 14 | |||||||||||||
| Rockyou, Inc. |
Software | Preferred Stock Warrants | Series B | 117 | — | |||||||||||||
| SugarSync Inc. |
Software | Preferred Stock Warrants | Series CC | 78 | 139 | |||||||||||||
| Preferred Stock Warrants | Series DD | 34 | 35 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total SugarSync Inc. |
112 | 174 | ||||||||||||||||
| Tada Innovations, Inc. |
Software | Preferred Stock Warrants | Series A | 25 | 30 | |||||||||||||
| White Sky, Inc. |
Software | Preferred Stock Warrants | Series B-2 | 54 | 4 | |||||||||||||
See notes to consolidated financial statements (unaudited)
13
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| WildTangent, Inc. |
Software | Preferred Stock Warrants | Series 3A | $ | 238 | $ | 84 | |||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Software (1.99%)* |
4,335 | 9,332 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Luminus Devices, Inc. |
Electronics & Computer Hardware | Common Stock Warrants | 600 | — | ||||||||||||||
| Shocking Technologies, Inc. |
Electronics & Computer Hardware | Preferred Stock Warrants | Series A-1 | 63 | 54 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrant Electronics & Computer Hardware (0.01%)* |
663 | 54 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Althea Technologies, Inc. |
Specialty Pharmaceuticals | Preferred Stock Warrants | Series D | 309 | 758 | |||||||||||||
| Pacira Pharmaceuticals, Inc.(3) |
Specialty Pharmaceuticals | Common Stock Warrants | 1,086 | 1,303 | ||||||||||||||
| Quatrx Pharmaceuticals Company |
Specialty Pharmaceuticals | Preferred Stock Warrants | Series E | 528 | — | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Specialty Pharmaceuticals (0.44%)* |
1,923 | 2,061 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| IPA Holdings, LLC |
Consumer & Business Products | Common Stock Warrants | 275 | 377 | ||||||||||||||
| Market Force Information, Inc. |
Consumer & Business Products | Preferred Stock Warrants | Series A | 24 | 68 | |||||||||||||
| Seven Networks, Inc. |
Consumer & Business Products | Preferred Stock Warrants | Series C | 174 | 253 | |||||||||||||
| Wageworks, Inc.(3) |
Consumer & Business Products | Common Stock Warrants | 252 | 1,953 | ||||||||||||||
| Wavemarket, Inc.(4) |
Consumer & Business Products | Preferred Stock Warrants | Series E | 106 | 62 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrant Consumer & Business Products (0.58%)* |
831 | 2,713 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Achronix Semiconductor Corporation |
Semiconductors | Preferred Stock Warrants | Series D | 160 | 132 | |||||||||||||
| Enpirion, Inc. |
Semiconductors | Preferred Stock Warrants | Series D | 157 | — | |||||||||||||
| iWatt, Inc. |
Semiconductors | Preferred Stock Warrants | Series C | 45 | 19 | |||||||||||||
| Preferred Stock Warrants | Series D | 583 | 379 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total iWatt, Inc. |
628 | 398 | ||||||||||||||||
| Kovio Inc. |
Semiconductors | Preferred Stock Warrants | Series B | 92 | — | |||||||||||||
| Quartics, Inc. |
Semiconductors | Preferred Stock Warrants | Series C | 53 | — | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Semiconductors (0.11%)* |
1,090 | 530 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| AcelRX Pharmaceuticals, Inc.(3) |
Drug Delivery | Common Stock Warrants | 357 | 252 | ||||||||||||||
| Alexza Pharmaceuticals, Inc.(3)(4) |
Drug Delivery | Common Stock Warrants | 645 | 17 | ||||||||||||||
| BIND Biosciences, Inc. |
Drug Delivery | Preferred Stock Warrants | Series C-1 | 291 | 503 | |||||||||||||
| Intelliject, Inc.(4) |
Drug Delivery | Preferred Stock Warrants | Series B | 594 | 518 | |||||||||||||
| Merrion Pharma, Plc.(3)(5)(10) |
Drug Delivery | Common Stock Warrants | 210 | 100 | ||||||||||||||
| Revance Therapeutics, Inc. |
Drug Delivery | Preferred Stock Warrants | Series D | 557 | 484 | |||||||||||||
| Transcept Pharmaceuticals, Inc.(3) |
Drug Delivery | Common Stock Warrants | 87 | 66 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrant Drug Delivery (0.41%)* |
2,741 | 1,940 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Blurb, Inc. |
Internet Consumer & Business Services | Preferred Stock Warrants | Series B | 323 | 514 | |||||||||||||
| Preferred Stock Warrants | Series C | 636 | 324 | |||||||||||||||
See notes to consolidated financial statements (unaudited)
14
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Total Blurb, Inc. |
$ | 959 | $ | 838 | ||||||||||||||
| 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 | 24 | |||||||||||||
| 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 | 670 | |||||||||||||
| Second Rotation |
Internet Consumer & Business Services | Preferred Stock Warrants | Series D | 93 | 86 | |||||||||||||
| Tectura Corporation |
Internet Consumer & Business Services | Preferred Stock Warrants | Series B-1 | 51 | 14 | |||||||||||||
| Trulia, Inc.(3)(4) |
Internet Consumer & Business Services | Preferred Stock Warrants | Series D | 188 | 573 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Internet Consumer & Business Services (0.47%)* |
3,127 | 2,205 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Buzznet, Inc. |
Information Services | Preferred Stock Warrants | Series B | 9 | — | |||||||||||||
| Cha Cha Search, Inc. |
Information Services | Preferred Stock Warrants | Series F | 58 | 2 | |||||||||||||
| Eccentex Corporation |
Information Services | Preferred Stock Warrants | Series A | 31 | 4 | |||||||||||||
| Intelligent Beauty, Inc. |
Information Services | Preferred Stock Warrants | Series B | 230 | 531 | |||||||||||||
| InXpo, Inc. |
Information Services | Preferred Stock Warrants | Series C | 98 | 47 | |||||||||||||
| Information Services | Preferred Stock Warrants | Series C-1 | 25 | 25 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total InXpo, Inc. |
123 | 72 | ||||||||||||||||
| Jab Wireless, Inc. |
Information Services | Preferred Stock Warrants | Series A | 265 | 412 | |||||||||||||
| RichRelevance, Inc. |
Information Services | Preferred Stock Warrants | Series D | 98 | 27 | |||||||||||||
| Solutionary, Inc. |
Information Services | Preferred Stock Warrants | Series E | 96 | 3 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Information Services (0.22%)* |
910 | 1,051 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| EKOS Corporation |
Medical Device & Equipment | Preferred Stock Warrants | Series C | 327 | — | |||||||||||||
| Gelesis, Inc.(6) |
Medical Device & Equipment | Preferred Stock Warrants | Series A-1 | 78 | 102 | |||||||||||||
| Lanx, Inc. |
Medical Device & Equipment | Preferred Stock Warrants | Series C | 441 | 442 | |||||||||||||
| Light Science Oncology, Inc. |
Medical Device & Equipment | Preferred Stock Warrants | Series B | 99 | — | |||||||||||||
| Novasys Medical, Inc. |
Medical Device & Equipment | Preferred Stock Warrants | Series D | 131 | 2 | |||||||||||||
| Common Stock Warrants | 2 | — | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Novasys Medial, Inc. |
133 | 2 | ||||||||||||||||
| Optiscan Biomedical, Corp. |
Medical Device & Equipment | Preferred Stock Warrants | Series B | 679 | — | |||||||||||||
| Preferred Stock Warrants | Series C | 390 | — | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Optiscan Biomedical, Corp. |
1,069 | — | ||||||||||||||||
| Oraya Therapeutics, Inc.(4) |
Medical Device & Equipment | Preferred Stock Warrants | Series C | 676 | 344 | |||||||||||||
| Common Stock Warrants | 66 | 66 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Oraya Therapeutics, Inc. |
742 | 410 | ||||||||||||||||
| USHIFU, LLC |
Medical Device & Equipment | Preferred Stock Warrants | Series G | 1,178 | 1,180 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Medical Device & Equipment (0.46%)* |
4,067 | 2,136 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
See notes to consolidated financial statements (unaudited)
15
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
| Portfolio Company |
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Navidea Biopharmaceuticals, Inc. (pka Neoprobe)(3) |
Diagnostic | Common Stock Warrants | $ | 244 | $ | 370 | ||||||||||||
| Tethys Bioscience, Inc. |
Diagnostic | Preferred Stock Warrants | Series E | 148 | 114 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Diagnostic (0.10%)* |
392 | 484 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| deCODE genetics ehf.(5)(10) |
Biotechnology Tools | Preferred Stock Warrants | Series A-2 | 305 | 303 | |||||||||||||
| Labcyte, Inc. |
Biotechnology Tools | Preferred Stock Warrants | Series C | 323 | 370 | |||||||||||||
| NuGEN Technologies, Inc. |
Biotechnology Tools | Preferred Stock Warrants | Series B | 45 | 145 | |||||||||||||
| Preferred Stock Warrants | Series C | 33 | 7 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total NuGEN Technologies, Inc. |
78 | 152 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Biotechnology Tools (0.18%)* |
706 | 825 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Entrigue Surgical, Inc. |
Surgical Devices | Preferred Stock Warrants | Series B | 87 | 33 | |||||||||||||
| Transmedics, Inc.(4) |
Surgical Devices | Preferred Stock Warrants | Series B | 225 | — | |||||||||||||
| Gynesonics, Inc. |
Surgical Devices | Preferred Stock Warrants | Series A | 18 | 18 | |||||||||||||
| Preferred Stock Warrants | Series C | 381 | 263 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Gynesonics, Inc. |
399 | 281 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Surgical Devices (0.07%)* |
711 | 314 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Everyday Health, Inc. (pka Waterfront Media, Inc.) |
Media/Content/ Info | Preferred Stock Warrants | Series C | 60 | 216 | |||||||||||||
| Glam Media, Inc. |
Media/Content/ Info | Preferred Stock Warrants | Series D | 482 | — | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Media/Content/Info (0.05%)* |
542 | 216 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Alphabet Energy, Inc. |
Clean Tech | Preferred Stock Warrants | Series A | 45 | 89 | |||||||||||||
| American Supercondutor Corporation(3) |
Clean Tech | Common Stock Warrants | 244 | 247 | ||||||||||||||
| BrightSource Energy, Inc. |
Clean Tech | Preferred Stock Warrants | Series D | 675 | 798 | |||||||||||||
| Calera, Inc. |
Clean Tech | Preferred Stock Warrants | Series C | 513 | 188 | |||||||||||||
| EcoMotors, Inc. |
Clean Tech | Preferred Stock Warrants | Series B | 308 | 494 | |||||||||||||
| Enphase Energy, Inc.(3) |
Clean Tech | Common Stock Warrants | 102 | 27 | ||||||||||||||
| Fulcrum Bioenergy, Inc. |
Clean Tech | Preferred Stock Warrants | Series C-1 | 212 | 210 | |||||||||||||
| Glori Energy, Inc. |
Clean Tech | Preferred Stock Warrants | Series C | 165 | 92 | |||||||||||||
| GreatPoint Energy, Inc. |
Clean Tech | Preferred Stock Warrants | Series D-1 | 548 | 4 | |||||||||||||
| Integrated Photovoltaics, Inc. |
Clean Tech | Preferred Stock Warrants | Series A-1 | 81 | 106 | |||||||||||||
| Lilliputian Systems, Inc. |
Clean Tech | Preferred Stock Warrants | Series AA | 106 | — | |||||||||||||
| Common Stock Warrants | 49 | — | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Lilliputian Systems, Inc. |
155 | — | ||||||||||||||||
| Propel Biofuels, Inc. |
Clean Tech | Preferred Stock Warrants | Series C | 211 | 318 | |||||||||||||
| SCIenergy, Inc.(4) |
Clean Tech | Preferred Stock Warrants | Series C | 361 | 239 | |||||||||||||
| Solexel, Inc. |
Clean Tech | Preferred Stock Warrants | Series B | 1,161 | 17 | |||||||||||||
| Stion Corporation(4) |
Clean Tech | Preferred Stock Warrants | Series E | 318 | 283 | |||||||||||||
| Trilliant, Inc. |
Clean Tech | Preferred Stock Warrants | Series A | 161 | 66 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants Clean Tech (0.68%)* |
5,260 | 3,178 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Warrants (7.01%) |
34,205 | 32,872 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Aegerion Pharmaceuticals, Inc.(3) |
Drug Discovery & Development | Common Stock | 150 | 1,135 | ||||||||||||||
| Aveo Pharmaceuticals, Inc.(3) |
Drug Discovery & Development | Common Stock | 842 | 1,747 | ||||||||||||||
| Dicerna Pharmaceuticals, Inc. |
Drug Discovery & Development | Preferred Stock | Series B | 502 | 361 | |||||||||||||
| Inotek Pharmaceuticals Corp. |
Drug Discovery & Development | Preferred Stock | Series C | 1,500 | — | |||||||||||||
|
Merrimack Pharmaceuticals, |
Drug Discovery & Development | Common Stock | 2,000 | 5,126 | ||||||||||||||
See notes to consolidated financial statements (unaudited)
16
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Paratek Pharmaceuticals, Inc. |
Drug Discovery & Development | Preferred Stock | Series H | $ | 1,005 | $ | 396 | |||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Drug Discovery & Development (1.87%)* |
5,999 | 8,765 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Acceleron Pharmaceuticals, Inc. |
Drug Delivery | Preferred Stock | Series C | 243 | 203 | |||||||||||||
| Preferred Stock | Series E | 97 | 172 | |||||||||||||||
| Preferred Stock | Series F | 61 | 75 | |||||||||||||||
| Preferred Stock | Series B | 1,000 | 903 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Acceleron Pharmaceuticals, Inc. |
1,401 | 1,353 | ||||||||||||||||
| Merrion Pharma, Plc.(3)(5)(10) |
Drug Delivery | Common Stock | 9 | 5 | ||||||||||||||
| Transcept Pharmaceuticals, Inc.(3) |
Drug Delivery | Common Stock | 500 | 221 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Drug Delivery (0.33%)* |
1,910 | 1,579 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| E-band Communications, Corp.(6) |
Communications & Networking | Preferred Stock | Series B | 2,000 | 490 | |||||||||||||
| Preferred Stock | Series C | 372 | 181 | |||||||||||||||
| Preferred Stock | Series D | 508 | 287 | |||||||||||||||
| Preferred Stock | Series E | 374 | 525 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total E-band Communications, Corp. |
3,254 | 1,483 | ||||||||||||||||
| Glowpoint, Inc.(3) |
Communications & Networking | Common Stock | 101 | 242 | ||||||||||||||
| Neonova Holding Company |
Communications & Networking | Preferred Stock | Series A | 250 | 246 | |||||||||||||
| Peerless Network, Inc. |
Communications & Networking | Preferred Stock | Series A | 1,000 | 2,780 | |||||||||||||
| Stoke, Inc. |
Communications & Networking | Preferred Stock | Series E | 500 | 583 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Communications & Networking (1.14%)* |
5,105 | 5,334 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Atrenta, Inc. |
Software | Preferred Stock | Series D | 334 | 607 | |||||||||||||
| Box, Inc.(4) |
Software | Preferred Stock | Series C | 500 | 5,117 | |||||||||||||
| Preferred Stock | Series D | 500 | 2,072 | |||||||||||||||
| Preferred Stock | Series D-1 | 1,000 | 1,631 | |||||||||||||||
| Preferred Stock | Series D-2 | 2,001 | 2,892 | |||||||||||||||
| Preferred Stock | Series E | 500 | 500 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Box, Inc. |
4,501 | 12,212 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Software (2.73%)* |
4,835 | 12,819 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Spatial Photonics, Inc. |
Electronics & Computer Hardware | Preferred Stock | Series D | 268 | — | |||||||||||||
| Virident Systems |
Electronics & Computer Hardware | Preferred Stock | Series D | 5,000 | 5,250 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Electronics & Computer Hardware (1.12%)* |
5,268 | 5,250 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Quatrx Pharmaceuticals Company |
Specialty Pharmaceuticals | Preferred Stock | Series E | 750 | — | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Specialty Pharmaceuticals (0.00%)* |
750 | — | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Caivis Acquisition Corporation |
Consumer & Business Products | Common Stock | Series A | 819 | 598 | |||||||||||||
| Facebook, Inc.(3) |
Consumer & Business Products | Common Stock | Series B | 9,558 | 6,660 | |||||||||||||
| IPA Holdings, LLC |
Consumer & Business Products | Preferred Stock | LLC interest | 500 | 552 | |||||||||||||
| Market Force Information, Inc. |
Consumer & Business Products | Preferred Stock | Series B | 500 | 532 | |||||||||||||
See notes to consolidated financial statements (unaudited)
17
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS—(Continued)
September 30, 2012
(unaudited)
(dollars in thousands)
|
|
Industry |
Type of Investment(1) |
Series |
Principal Amount |
Cost(2) | Value(3) | ||||||||||||
| Wageworks, Inc.(3) |
Consumer & Business Products | Common Stock | Series D | $ | 250 | $ | 336 | |||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Consumer & Business Products (1.85%)* |
11,627 | 8,678 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| iWatt, Inc. |
Semiconductors | Preferred Stock | Series E | 490 | 985 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Semiconductors (0.21%)* |
490 | 985 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Cozi Group, Inc. |
Internet Consumer & Business Services | Preferred Stock | Series B | 177 | 13 | |||||||||||||
| RazorGator Interactive Group, Inc. |
Internet Consumer & Business Services | Preferred Stock | Series A | 1,000 | — | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Internet Consumer & Business Services (0.00%)* |
1,177 | 13 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Buzznet, Inc. |
Information Services | Preferred Stock | Series C | 250 | — | |||||||||||||
| Good Technologies, Inc. (pka Visto Corporation) |
Information Services | Common Stock | 603 | — | ||||||||||||||
| Solutionary, Inc. |
Information Services | Preferred Stock | Series A-1 | 18 | 210 | |||||||||||||
| Preferred Stock | Series A-2 | 325 | 73 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Solutionary, Inc. |
343 | 283 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Information Services (0.06%)* |
1,196 | 283 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Gelesis, Inc.(6) |
Medical Device & Equipment | Common Stock | — | 67 | ||||||||||||||
| Preferred Stock | Series A-1 | 425 | 893 | |||||||||||||||
| Preferred Stock | Series A-2 | 500 | 729 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Gelesis, Inc. |
925 | 1,689 | ||||||||||||||||
| Novasys Medical, Inc. |
Medical Device & Equipment | Preferred Stock | Series D-1 | 1,000 | 880 | |||||||||||||
| Optiscan Biomedical, Corp. |
Medical Device & Equipment | Preferred Stock | Series B | 3,000 | — | |||||||||||||
| Preferred Stock | Series C | 655 | — | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Optiscan Biomedical, Corp. |
3,655 | — | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Medical Device & Equipment (0.55%)* |
5,580 | 2,569 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| NuGEN Technologies, Inc. |
Biotechnology Tools | Preferred Stock | Series C | 500 | 540 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Biotechnology Tools (0.12%)* |
500 | 540 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| 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 | 227 | |||||||||||||
| Preferred Stock | Series C | 283 | 257 | |||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Gynesonics, Inc. |
533 | 484 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Surgical Devices (0.10%)* |
1,933 | 484 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Everyday Health, Inc. (pka Waterfront Media, Inc.) |
Media/Content/ Info | Preferred Stock | Series D | 1,000 | 513 | |||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity Media/Content/Info (0.11%)* |
1,000 | 513 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Equity (10.19%) |
47,370 | 47,812 | ||||||||||||||||
|
|
|
|
|
|||||||||||||||
| Total Investments (165.09%) |
$ | 792,782 | $ | 774,459 | ||||||||||||||
|
|
|
|
|
|||||||||||||||
| * | 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 $19,944, $38,763 and $18,819 respectively. The tax cost of investments is $794,938. |
| (3) | Except for warrants in 20 publicly traded companies and common stock in eight publicly traded companies, all investments are restricted at September 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 September 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)
18
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 | ||||||||||
| E-band Communications, Corp.(6) |
Communications & Networking |
Convertible Senior |
$ | 356 | 356 | |||||||||||
| Total Debt Drug Discovery & Development (26.79%)* |
|
113,913 | 115,470 | |||||||||||||
|
|
|
|
|
|||||||||||||
| Intelepeer, Inc. |
Communications & Networking |
Senior Debt Matures May 2013 |
$ | 6,524 | 6,346 | 6,476 | ||||||||||
| Senior Debt Matures May 2012 |
$ | 1,100 | 1,100 | 1,070 | ||||||||||||
| Total Intelepeer, Inc. |
7,446 | 7,546 | ||||||||||||||
| Ahhha, Inc. |
Communications & Networking |
Senior Debt Matures January 2015 |
$ | 350 | 345 | 345 | ||||||||||
| Pac-West Telecomm, Inc. |
Communications & Networking |
Senior Debt Matures October 2014 |
$ | 4,369 | 4,196 | 4,196 | ||||||||||
| PeerApp, Inc. |
Communications & Networking |
Senior Debt Matures April 2013 |
$ | 1,776 | 1,814 | 1,835 | ||||||||||
| PointOne, Inc. |
Communications & Networking |
Senior Debt Matures April 2013 |
$ | 8,308 | 8,107 | 8,100 | ||||||||||
| Stoke, Inc(4) |
Communications & Networking |
Senior Debt Matures May 2013 |
$ | 2,627 | 2,586 | 2,612 | ||||||||||
| Total Debt Communications & Networking (5.71%)* |
24,850 | 24,634 | ||||||||||||||
|
|
|
|
|
|||||||||||||
See notes to consolidated financial statements.
19
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.
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) | |||||||||||
| 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.
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) | |||||||||||
| 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. |
||||||||||||||||