micro1: Second lien senior secured term loan financing
$20.75 million principal outstanding at 30 September 2026 (cost and fair value $20.232 million), against $10.875 million at 30 June 2026. Hercules Capital's 10-Q marks the loan with its footnote (19), "second lien senior secured debt", and footnote (6), held through Hercules SBIC V, L.P., Hercules' wholly owned small business investment company. Maturity June 2029, interest Prime + 3.50% with a 10.25% floor and a 4.00% exit fee, as at 30 June; Hercules' warrant on micro1 common stock covers 37,299 shares. micro1 is no longer in the 10-Q's table of unfunded commitments available at the borrower's request (it was listed at $10.875 million at 30 June). The 10-Q gives no first-lien lender or amount for micro1 and does not mention Citi or micro1's $1 billion data-acquisition commitment. The date is the balance date; the 10-Q does not show when the extra principal was drawn.
Dated 30 Sep 2026Source checked 29 Oct 2026Quote found on its page again 8 Nov 2026Basis: stated
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“micro1 Inc. Senior Secured June 2029 Prime + 3.50%, Floor rate 10.25%, 4.00% Exit Fee $ 20,750 20,232 20,232 (6)(19) (19)Denotes second lien senior secured debt. (6)Denotes that all or a portion of the investment in this portfolio company is held by Hercules SBIC V, L.P., the Company’s wholly owned small business investment company.”
It is shown on its own, not counted into a figure.
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