Yield on new shares ($13.65) would be 10.5%
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the "Company") today announced that it has priced an underwritten offering of 5,000,000 shares of its common stock resulting in net proceeds exclusive of offering expenses to the Company of approximately $68.25 million, or $13.65 per share. In connection with the offering, the Company has granted the underwriters for the offering an option to purchase up to an additional 750,000 shares of the Company’s common stock.
The Company expects to initially use all of the net proceeds from this offering to repay outstanding debt borrowed under its credit facility. However, through re-borrowing of the initial repayments under the credit facility, the Company intends to use the funds to make investments in accordance with its investment objectives and strategies, to pay its operating expenses and other cash obligations, and for general corporate purposes.