TriplePoint Venture Growth BDC Corp. Enters into Note Purchase Agreement for Issuance of 3-Year Investment Grade Notes
30 January 2025 - 8:15AM
Business Wire
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company”
or “TPVG”), a leading financing provider to venture growth stage
companies backed by a select group of venture capital firms in
technology and other high growth industries, today announced that
it has entered into a note purchase agreement governing the
issuance of $50 million in aggregate principal amount of senior
unsecured investment grade notes due February 2028 (the “2028
Notes”). The 2028 Notes are expected to be delivered and paid for
on February 12, 2025.
“As we continue to maintain a strong and diversified capital
structure, we are pleased to enter into the agreement for the 2028
Notes ahead of the maturity of the Company’s unsecured notes due in
March 2025,” said Mike L. Wilhelms, Chief Financial Officer of
TPVG. “We remain well positioned to draw on our meaningful
liquidity and financial flexibility to capitalize on attractive
lending opportunities in the current market.”
The 2028 Notes, which are unsecured and bear an interest rate of
8.11% per year, payable semiannually, are scheduled to mature on
February 12, 2028, and may be redeemed in whole or in part at any
time or from time to time at the Company’s option at par plus
accrued interest to the prepayment date and, if applicable, a
make-whole premium. For more information regarding the 2028 Notes,
please see the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on January 29, 2025.
The Company intends to use the net proceeds from this offering
along with cash on hand to prepay the unsecured notes due in March
2025.
Goldman Sachs & Co. LLC was the sole placement agent of this
offering.
ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.
TriplePoint Venture Growth BDC Corp. is an externally-managed
business development company focused on providing customized debt
financing with warrants and direct equity investments to venture
growth stage companies in technology and other high growth
industries backed by a select group of venture capital firms. The
Company’s sponsor, TriplePoint Capital, is a Sand Hill Road-based
global investment platform which provides customized debt
financing, leasing, direct equity investments and other
complementary solutions to venture capital-backed companies in
technology and other high growth industries at every stage of their
development with unparalleled levels of creativity, flexibility and
service. For more information about TriplePoint Venture Growth BDC
Corp., visit https://www.tpvg.com. For more information about
TriplePoint Capital, visit https://www.triplepointcapital.com.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release constitute
forward-looking statements, including with respect to the
anticipated issuance of the 2028 Notes and the expected use of
proceeds therefrom. Forward-looking statements are not guarantees
of future events, performance, condition or results and involve a
number of substantial risks and uncertainties, many of which are
difficult to predict and are generally beyond the Company’s
control. Words such as “anticipates,” “expects,” “intends,”
“plans,” “will,” “may,” “continue,” “believes,” “seeks,”
“estimates,” “would,” “could,” “should,” “targets,” “projects,” and
variations of these words and similar expressions are intended to
identify forward-looking statements. Actual events, performance,
conditions or results may differ materially from those in the
forward-looking statements as a result of a number of factors,
including those described from time to time in the Company’s
filings with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which reflect management’s opinions only as of the date
hereof. The Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250129552259/en/
INVESTOR RELATIONS AND MEDIA The IGB Group Leon Berman
212-477-8438 lberman@igbir.com
TriplePoint Venture Grow... (NYSE:TPVG)
Historical Stock Chart
From Feb 2025 to Mar 2025
TriplePoint Venture Grow... (NYSE:TPVG)
Historical Stock Chart
From Mar 2024 to Mar 2025