Good day, and welcome to the Hercules Capital 2020 special meeting of stockholders. I would now like to turn the conference over to Scott Bluestein, our President, CEO, and Chief Investment Officer. Please go ahead.
Good morning, and welcome to the Hercules Capital 2020 special stockholders' meeting. My name is Scott Bluestein, and I am the President, CEO, and Chief Investment Officer of Hercules. It is my pleasure to welcome you today to this meeting. We are pleased to be hosting our meeting virtually, which allows us to be more inclusive and reach a greater number of our stockholders. As is our custom, we will conduct the business portion of our meeting first and answer questions at the end of the meeting. Though we may not be able to answer every question, we will do our best to provide a response to as many as possible. In keeping with the digital approach to this year's meeting, it is now shortly after 10:00 A.M. Pacific Time on June 12, 2020, and this meeting is officially called to order.
The company has appointed Broadridge Financial Services to act as the Inspector of Election. Chris Woods from Broadridge is with us today and has taken the oath of Inspector of Election earlier today. After the formal meeting has been adjourned, we will provide time for general questions. Only validated stockholders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to one question. Please note that this meeting is being recorded. However, no one attending via the webcast or telephone is permitted to use any audio recording device. The Board of Directors fixed April 20, 2020, as the record date for determining stockholders entitled to vote at this meeting.
An affidavit has been delivered attesting to the fact that the notice of the meeting and the proxy statement were mailed on or about April 29, 2020, to all stockholders as of the record date and will be incorporated into the minutes of this meeting. The stockholder list shows that as of the record date, there were 110,594,697 shares of common stock outstanding and entitled to vote this meeting. We are informed by the Inspector of Election that there are represented in person or by proxy shares of common stock representing 58,709,119 votes or approximately 53.08% of the voting power on the record date. Since this represents more than a majority of the voting power of all issued and outstanding stock entitled to vote on the record date, a quorum is present for purposes of transacting business. Now I will present the matter to be voted upon.
Please note that we will give stockholders an opportunity to comment on the proposal after it has been presented. The proposal is to authorize Hercules Capital, with the approval of its Board of Directors, to sell or otherwise issue shares of its common stock at a price below its then current net asset value per share, subject to certain limitations set forth herein, including without limitation, that the number of shares does not exceed 25% of its then outstanding common stock. If any stockholder would like to make a comment regarding the proposal, please submit your comment through the web portal. There are no comments. It is now 10:04 A.M. Pacific Time on June 12, 2020, and the polls are now open.
Any stockholder who has not yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. Now that everyone has had the opportunity to vote, I now declare the polls for the 2020 Hercules Capital special stockholder meeting closed at 10:05 A.M. Pacific Time on June 12, 2020. Do we have preliminary voting results?
Yes, we do. The preliminary vote report shows that the proposal to authorize Hercules Capital, with the approval of its Board of Directors, to sell or otherwise issue shares of its common stock at a price below its then current net asset value per share, subject to certain limitations set forth within, including without limitation, that the number of shares does not exceed 25% of the then outstanding common stock has been approved.
Thank you, Chris. We will now open the call up to any questions that shareholders may have. There are no questions. We will be reporting the final vote results in a Form 8-K to be filed within four business days. There being no further business to come before the meeting, the Hercules Capital 2020 special meeting of stockholders is now adjourned. I would like to again thank everyone for joining, and we appreciate everyone's historical and continued support. Thank you and have a great day.