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TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) generates frequent news as a financing provider to venture growth stage companies in technology and other high growth industries. As an externally managed business development company, TPVG reports on its investment activity, portfolio performance, credit facility developments and distributions, all of which are reflected in its press releases and current reports.
News coverage for TPVG commonly includes quarterly and annual financial results, where the company details signed term sheets, new debt commitments, funded debt investments, warrant and equity investments, portfolio yields and net investment income. These updates also discuss the number of portfolio companies, credit quality metrics and changes in net assets resulting from operations.
Another key news theme is TPVG’s capital structure and liquidity. The company announces amendments to its revolving credit facility, including changes to the revolving period, maturity, interest rate spreads and advance rates, as well as private offerings of senior unsecured investment grade notes. Such items are typically disclosed through Form 8-K filings and accompanying press releases.
TPVG also issues news about distributions on its common stock, including regular quarterly distributions and supplemental distributions intended to distribute undistributed taxable income. In addition, rating agency actions, such as confirmations of TPVG’s investment grade rating and stable outlook by Morningstar DBRS, are highlighted in dedicated announcements.
Investors following TPVG news can expect a stream of updates on earnings, portfolio activity, credit quality, distributions, credit facility amendments and rating developments. Monitoring this news flow provides insight into how the company is deploying capital, managing risk and supporting venture growth stage companies across technology and other high growth sectors.
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.
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG), a leading financing provider for venture growth stage companies, has announced it will release its 2024 second quarter financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 5:00 p.m. Eastern Time on the same day to discuss the results.
Key executives participating in the call include James P. Labe (CEO and Chairman), Sajal K. Srivastava (President and CIO), and Christopher M. Mathieu (CFO). Investors and analysts can join the call by dialing (844) 826-3038 (domestic) or +1 (412) 317-5184 (international). A replay will be available until September 7, 2024. Additionally, a live audio webcast will be accessible through the company's website, with an online archive available for one year after the call.
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) announced that CFO Christopher M. Mathieu will retire effective August 9, 2024, but will continue as an advisor until December 31, 2024. Mathieu, who has been with TPVG since July 2019, is lauded for his industry knowledge and contributions to the company's growth. TPVG has initiated the search for his successor. Additionally, TPVG will announce its 2024 Q2 financial results on August 7, 2024, and hold a conference call at 5:00 p.m. Eastern Time the same day.
TriplePoint Venture Growth BDC Corp. announced its Q1 2024 financial results, achieving $0.41 per share in net investment income and a 15.4% portfolio yield on debt investments. The company declared a second quarter 2024 distribution of $0.40 per share. Highlights include $130.5M signed term sheets, $10.0M new debt commitments, $13.5M in debt investments to three portfolio companies, $30.8M loan principal prepayments, and raising $583.6M in private financings. Net asset value stands at $341.3M, with total liquidity of $311.8M. The company's focus remains on increasing investment activity in venture growth stage companies.
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