Triplepoint Ven Stock Price, News & Analysis

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG), a venture growth stage financing provider, has received confirmation of its investment grade BBB (low) Long-Term Issuer Rating and Long-Term Senior Debt Rating from Morningstar DBRS, maintaining a stable outlook.

The rating affirmation reflects TPVG's established position through its TriplePoint Capital venture lending platform, improved leverage profile, and expected return to profitability in 2024. Key financial strengths include the renewal of a $300 million revolving credit facility in 2024 and a $50 million private notes offering in 2025.

Morningstar DBRS's stable outlook is supported by expectations of portfolio growth through sector rotation, which is anticipated to enhance earnings and credit performance.

TriplePoint Venture Growth BDC (NYSE: TPVG) reported its Q4 and fiscal year 2024 financial results. The company achieved net investment income of $1.40 per share for FY2024 and declared a Q1 2025 distribution of $0.30 per share.

Q4 2024 highlights include: $72.0 million in new debt commitments, $49.9 million funded in debt investments with 13.5% weighted average yield, and 15.8% portfolio yield on debt investments. The company maintained a net asset value of $345.7 million ($8.61 per share) and total liquidity of $373.7 million.

FY2024 performance showed: $108.6 million in total investment income, $735.6 million in signed term sheets, and $175.0 million in new debt commitments. The company funded $135.1 million in debt investments across 13 portfolio companies with a 14.1% weighted average yield at origination. Notable was the $1.8 billion aggregate capital raised by 26 debt portfolio companies in private financings.

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG), a leading financing provider to venture growth stage companies, has scheduled its fourth quarter and fiscal year 2024 financial results release for March 5, 2025, after market close.

The company will host a conference call at 5:00 p.m. Eastern Time on the same day, featuring CEO James P. Labe, President and CIO Sajal K. Srivastava, and CFO Mike L. Wilhelms. Investors can join via phone at (844) 826-3038 (domestic) or +1 (412) 317-5184 (international). A replay will be available through April 5, 2025. The call will also be accessible via webcast on TPVG's website, with a one-year archive available.

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) has entered into a note purchase agreement for $50 million in senior unsecured investment grade notes due February 2028. The 2028 Notes, scheduled for delivery on February 12, 2025, will bear an interest rate of 8.11% per year, payable semiannually.

The notes can be redeemed at any time at the Company's option at par plus accrued interest and any applicable make-whole premium. TPVG plans to use the net proceeds along with cash on hand to prepay unsecured notes due in March 2025, maintaining their capital structure strategy. Goldman Sachs & Co. served as the sole placement agent for this offering.

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) has appointed Mike L. Wilhelms as Chief Financial Officer, effective January 6, 2025. Wilhelms brings over 30 years of financial leadership and private credit experience, particularly in BDC, asset management, and specialty finance sectors. He previously served as CFO at Sabal Capital Holding Company and Crescent Capital BDC.

In his new role, Wilhelms will serve as CFO across multiple TriplePoint entities, including TriplePoint Capital , TriplePoint Private Venture Credit Inc., and other affiliated companies. Based in Menlo Park, California, he will contribute his extensive experience in commercial real estate lending and middle-market lending to TPVG's venture lending platform.

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) reported its Q3 2024 financial results with net investment income of $0.35 per share and declared a Q4 2024 distribution of $0.30 per share. The company achieved a 15.7% weighted average annualized portfolio yield on debt investments and increased its net asset value to $364.3 million, or $9.10 per share, representing a 3.2% increase from the previous quarter. During Q3, TPVG closed $41.0 million in new debt commitments and funded $33.0 million in debt investments. The company maintained strong liquidity of $338.6 million and ended the quarter with a 1.11x gross leverage ratio.

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG), a leading financing provider to venture growth stage companies, has scheduled its 2024 third quarter financial results announcement for Wednesday, November 6, 2024 after market close. The company will host a conference call at 5:00 p.m. Eastern Time on the same day, featuring CEO James P. Labe, President Sajal K. Srivastava, and interim CFO Matthew A. Galiani. The call will be accessible via phone and webcast, with a replay available through December 6, 2024.

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) announced its Q2 2024 financial results and declared a Q3 2024 distribution of $0.30 per share. Key highlights include:

- Signed $188.4 million in term sheets, a 44% increase from Q1
- Closed $52.0 million in new debt commitments, up 420% from Q1
- Funded $38.7 million in debt investments, a 186% increase from Q1
- Received $97.0 million from liquidity events
- Achieved 15.8% weighted average annualized portfolio yield on debt investments
- Earned net investment income of $12.6 million, or $0.33 per share
- Generated total investment income of $27.1 million
- Net asset value of $353.0 million, or $8.83 per share

The company renewed its Revolving Credit Facility, extending the revolving period to November 2025 and maturity to May 2027, with total commitments set at $300 million.

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) has announced an amendment to its revolving credit facility. Key changes include:

1. Extension of the revolving period from August 31, 2024, to November 30, 2025
2. Extension of the scheduled maturity date from November 30, 2025, to May 30, 2027
3. Reduction of total commitments to $300 million, with an accordion feature allowing increase up to $400 million
4. Maintained borrowing covenants, including leverage restrictions

The facility involves multiple lenders, led by Deutsche Bank AG, New York Branch. TPVG's president highlighted the facility's role in providing liquidity, diversifying capital structure, and supporting portfolio growth.