TriplePoint Venture Growth BDC drops on share offering

TriplePoint Venture Growth BDC

05/08/2022 13:57

** TriplePoint Venture Growth BDC Corp's  TPVG.N  shares
down 7.2% at $13.43 premarket as co raises equity
    ** Business development company late Thurs sold 3.75 mln
shares at $13.75 for $51.6 mln raise  urn:newsml:reuters.com:*:nBw4nJnTca
    ** Offering prices at 5% discount to stock's last sale
    ** Co on Weds reported net asset value/sh of $13.01 at
end-Jun  urn:newsml:reuters.com:*:nASA03J8I
    ** Co to use net proceeds to repay debt borrowed under
credit facility
    ** TPVG has 31 mln shares outstanding for ~$450 mln market
cap, per Refinitiv data
    ** YTD, shares down 19% through Thurs close
    ** Wells Fargo, Morgan Stanley, Keefe, Bruyette & Woods,
UBS, and Goldman acted as jt bookrunners for offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))