Hercules Capital, a specialty finance company, said it has acquired JumpStart Games from China-based NetDragon Websoft Holdings. Hercules said it committed $14.6 million in venture debt financing to JumpStart in March 2014. As of March 31, the JumpStart investment was on non-accrual status with a value of $3.1 million.
Hercules is scheduled to receive quarterly interest payments through June 30 and will have the potential to receive principal repayment of a portion of its outstanding obligation when it matures in 2018. The deal also includes the potential for additional principal and interest recovery from performance-based earnouts expected to be payable on June 30, 2019.
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