Offering conducted by Morgan Stanley, Wells Fargo, Goldman, Sachs, UBS
By Devika Patel
Knoxville, Tenn., March 27 – TriplePoint Venture Growth BDC Corp. said it priced a $94.58 million public offering of stock with a $14.19 million greenshoe. The deal was announced on Thursday.
The company will sell 6.5 million common shares at $14.55 per share. The price per share is a 1.22% discount to the March 26 closing share price of $14.73.
Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, Goldman, Sachs & Co. and UBS Securities LLC are the bookrunning managers.
Settlement is expected on April 1.
Proceeds will be used to repay debt, to make new investments and for general working capital purposes.
The company provides financing to venture growth-stage companies backed by a select group of venture capital firms in the technology, life sciences and other high-growth industries.
| Issuer: | TriplePoint Venture Growth BDC Corp.
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| Issue: | Common stock
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| Amount: | $94,575,000
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| Greenshoe: | $14,186,250
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| Shares: | 6.5 million
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| Price: | $14.55
|
| Warrants: | No
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| Bookrunners: | Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, Goldman, Sachs & Co. and UBS Securities LLC
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| Announcement date: | March 26
|
| Pricing date: | March 27
|
| Settlement date: | April 1
|
| Stock symbol: | NYSE: TPVG
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| Stock price: | $14.73 at close March 26
|
| Market capitalization: | $146.18 million
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