Hercules Capital, Inc. (NYSE:HTGC) Q3 2023 Earnings Call Transcript

Finian O’Shea: Thanks so much.

Scott Bluestein: Thanks Fin.

Operator: And thank you. And I’m showing no further questions. I would now like to turn the call back over to Scott Bluestein for closing remarks.

Scott Bluestein: Thank you Justin, and thanks to everyone for joining our call today.

Operator: And Pardon me, Scott, I apologize. We have one more question. Okay. One moment please. And our next question comes from Craig Bellinger [ph] from City National Bank. Your line is now open.

Unidentified Analyst: Hi. Thank you. And sorry I was slow to press the buzzer. You know, congratulations on the, on the record results and you know, I appreciate the comments on con convoy and particularly some of the reserves that you’ve taken. I wonder if there’s any other color on that in terms of kind of the go forward position on that particular outlier.

Scott Bluestein: Yes, appreciate the question. We’re not going to make any further public comment outside of what I said in the prepared remarks. It remains an active workout situation. We are working with the company to maximize our recovery and based on our efforts to date, as I mentioned in my remarks, we expect that our net recovery will meet or exceed our Q3 fair value mark.

Unidentified Analyst: Okay, thank you.

Operator: And thank you. Now I would like to turn the call back over to Scott Bluestein for closing remarks.

Scott Bluestein: Thank you Justin, and thanks to everyone for joining our call today. As a final note, we will be participating in the Jefferies Eighth Annual BDC Summit on November 15th in New York City, the JMP Virtual BDC Direct Lending Day on November 30th, and the SMBC Virtual Annual BDC fixed income investor event on December 1st. If you are interested in attending any of these events, please contact Jefferies, JMP or SMBC directly, or Michael Hara. We look forward to reporting our progress on our Q4 and year end 2023 earnings call. Thanks everyone and have a great day.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.