TriplePoint Venture Growth BDC Corp

For the period ended Sep 30, 2024. Filed Nov 6, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 6, 2024

TPVG$4.37-2.0%Stored close · as of Nov 6, 2026

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Contents

Consolidated Statements of Assets and Liabilities as of September 30, 2024 (unaudited) and December 31, 2023

CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES

(in thousands, except per share data)

	September 30, 2024	December 31, 2023
Assets · (unaudited)
Investments at fair value (amortized cost of $738,960 and $850,142, respectively)	$720,974	$802,145
Cash and cash equivalents	48,283	153,328
Restricted cash	289	18,254
Deferred credit facility costs	4,575	2,714
Prepaid expenses and other assets	4,224	2,384
Total assets	$778,345	$978,825
Liabilities
Revolving Credit Facility	$10,000	$215,000
2025 Notes, net	69,895	69,738
2026 Notes, net	199,373	199,041
2027 Notes, net	124,326	124,117
Base management fee payable	3,418	4,490
Income incentive fee payable	—	—
Other accrued expenses and liabilities	7,062	20,133
Total liabilities	$414,074	$632,519
Commitments and Contingencies (Note 7)
Net assets
Preferred stock, par value $0.01 per share (50,000 shares authorized; no shares issued and outstanding, respectively)	$—	$—
Common stock, par value $0.01 per share	400	376
Paid-in capital in excess of par value	514,668	492,934
Total distributable earnings (loss)	(150,797)	(147,004)
Total net assets	$364,271	$346,306
Total liabilities and net assets	$778,345	$978,825
Shares of common stock outstanding (par value $0.01 per share and 450,000 authorized)	40,049	37,620
Net asset value per share	$9.10	$9.21

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2024	2023	2024	2023
Investment income
Interest income from investments	$21,727	$30,805	$69,236	$92,879
Payment-in-kind interest income	4,224	3,265	11,833	7,946
Other income
Expirations/terminations of unfunded commitments	148	668	441	1,740
Other fees	416	1,000	1,385	1,953
Total investment and other income	26,515	35,738	82,895	104,518
Operating expenses
Base management fee	3,418	4,596	11,552	13,403
Income incentive fee	—	—	—	—
Interest expense and amortization of fees	7,148	9,297	22,861	28,486
Administration Agreement expenses	580	579	1,838	1,720
General and administrative expenses	1,584	2,162	4,732	4,389
Total operating expenses	12,730	16,634	40,983	47,998
Net investment income	13,785	19,104	41,912	56,520
Net realized and unrealized gains/(losses)
Net realized gains (losses) on investments	(5,040)	(25,556)	(32,693)	(23,730)
Net change in unrealized gains (losses) on investments	13,889	8,600	30,011	(43,818)
Net realized and unrealized gains/(losses)	8,849	(16,956)	(2,682)	(67,548)
Net increase (decrease) in net assets resulting from operations	$22,634	$2,148	$39,230	$(11,028)
Per share information (basic and diluted)
Net investment income per share	$0.35	$0.54	$1.08	$1.59
Net increase (decrease) in net assets per share	$0.57	$0.06	$1.01	$(0.31)
Weighted average shares of common stock outstanding	39,954	35,609	38,782	35,453
Total distributions declared per share	$0.30	$0.40	$1.10	$1.20

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

(in thousands)

Paid-in capital in excess of par value · Total distributable earnings (loss) · Net assets
	Common stock
Shares · Par value
Balance as of June 30, 2023	35,447	$354	$471,540	$(92,460)	$379,434
Net increase (decrease) in net assets resulting from operations	—	—	—	2,148	2,148
Issuance of common stock, net	564	6	6,185	—	6,191
Distributions reinvested in common stock	75	1	750	—	751
Distributions from distributable earnings	—	—	—	(14,394)	(14,394)
Offering Costs	—	—	(30)	—	(30)
Balance as of September 30, 2023	36,086	$361	$478,445	$(104,706)	$374,100
Balance as of June 30, 2024	39,953	$399	$514,023	$(161,445)	$352,977
Net increase (decrease) in net assets resulting from operations	—	—	—	22,634	22,634
Distributions reinvested in common stock	96	1	645	—	646
Distributions from distributable earnings	—	—	—	(11,986)	(11,986)
Balance as of September 30, 2024	40,049	$400	$514,668	$(150,797)	$364,271
Balance as of December 31, 2022	35,348	$353	$470,572	$(50,985)	$419,940
Net increase (decrease) in net assets resulting from operations	—	—	—	(11,028)	(11,028)
Issuance of common stock, net	564	6	6,185	—	6,191
Distributions reinvested in common stock	174	2	1,868	—	1,870
Distributions from distributable earnings	—	—	—	(42,693)	(42,693)
Offering Costs	—	—	(180)	—	(180)
Balance as of September 30, 2023	36,086	$361	$478,445	$(104,706)	$374,100
Balance as of December 31, 2023	37,620	$376	$492,934	$(147,004)	$346,306
Net increase (decrease) in net assets resulting from operations	—	—	—	39,230	39,230
Issuance of common stock, net	2,127	21	19,404	—	19,425
Distributions reinvested in common stock	302	3	2,330	—	2,333
Distributions from distributable earnings	—	—	—	(43,023)	(43,023)
Balance as of September 30, 2024	40,049	$400	$514,668	$(150,797)	$364,271

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.