MENLO PARK, Calif.--(BUSINESS WIRE)--
TriplePoint Venture Growth BDC Corp. (the “Company” or “TPVG”) (NYSE:
TPVG), today announced that its Board of Directors has authorized and
declared an initial dividend of $0.09 per share for the period from the
pricing of the Company’s initial public offering on March 5, 2014,
through March 31, 2014. This dividend reflects a quarterly dividend rate
of $0.30 per share, prorated for the 27 days in this period. The
dividend will be payable on April 30, 2014 to stockholders of record on
April 15, 2014.
“We are pleased to be able to provide this initial distribution to our
stockholders,” said Jim Labe, chief executive officer and chairman of
the board of TPVG. “This initial dividend underscores the strength of
our investment strategy and portfolio of venture growth stage companies.”
The Company recently closed its initial public offering of 9,583,333
shares of common stock for total gross proceeds of approximately $143.7
million. This amount included the exercise in full by the underwriters
of their option to purchase additional shares of common stock.
About TriplePoint Venture Growth BDC Corp.
TriplePoint Venture Growth BDC Corp. is an externally managed,
closed-end, non-diversified management investment company that has
elected to be regulated as a business development company under the
Investment Company Act of 1940, as amended. It was formed to expand the
venture growth stage business segment of its sponsor, TriplePoint
Capital LLC. The Company’s investment objective is to maximize its total
return to stockholders primarily in the form of current income and, to a
lesser extent, capital appreciation by primarily lending with warrants
to venture growth stage companies focused in technology, life sciences
and other high growth industries backed by a select group of leading
venture capital investors. More information is available at http://www.tpvg.com.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements,"
which relate to future events or the Company's future performance or
financial condition. These statements are not guarantees of future
performance and are subject to risks, uncertainties, and other factors,
some of which are beyond the Company's control and difficult to predict
and could cause actual results to differ materially from those expressed
or forecasted in the forward-looking statements, including those
described from time to time in the Company's filings with the Securities
and Exchange Commission. The Company undertakes no duty to update any
forward-looking statements made herein, unless required to do so by law.
All forward-looking statements speak only as of the time of this press
release.
Source: TriplePoint Venture Growth BDC Corp.