Triplepoint Venture Growth Bdc Corp. 10-Q Filing

Ticker: TPVG · Form: 10-Q · Filed: May 1, 2024 · CIK: 1580345

Triplepoint Venture Growth Bdc Corp. 10-Q Filing Summary
FieldDetail
CompanyTriplepoint Venture Growth Bdc Corp. (TPVG)
Form Type10-Q
Filed DateMay 1, 2024
Pages16
Reading Time19 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

FAQ

What type of filing is this?

This is a 10-Q filing submitted by Triplepoint Venture Growth Bdc Corp. (ticker: TPVG) to the SEC on May 1, 2024.

What are the key financial figures in this filing?

Key dollar amounts include: $0.01 (ich Registered Common Stock, par value $0.01 per share TPVG The New York Stock Excha).

How long is this filing?

Triplepoint Venture Growth Bdc Corp.'s 10-Q filing is 16 pages with approximately 4,686 words. Estimated reading time is 19 minutes.

Where can I view the full 10-Q filing?

The complete filing is available on SEC EDGAR. You can also read the AI-decoded analysis with risk assessment and key highlights on ReadTheFiling.

Filing Stats: 4,686 words · 19 min read · ~16 pages · Grade level 5.9 · Accepted 2024-05-01 16:31:20

Key Financial Figures

  • $0.01 — ich Registered Common Stock, par value $0.01 per share TPVG The New York Stock Excha

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 1 Consolidated Statements of Assets and Liabilities as of March 31, 2024 (unaudited) and December 31, 2023 1 Consolidated Statements of Operations for the Three Months Ended March 3 1 , 202 4 (unaudited) and March 3 1 , 202 3 (unaudited) 2 Consolidated Statements of Changes in Net Assets for the Three Months Ended March 3 1 , 202 4 (unaudited) and March 3 1 , 202 3 (unaudited) 3 Consolidated Statements of Cash Flows for the Three Months Ended March 3 1 , 202 4 (unaudited) and March 3 1 , 202 3 (unaudited) 4 Consolidated Schedules of Investments as of March 31, 2024 (unaudited) and December 31, 2023 5

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 34

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 51

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 65

Controls and Procedures

Item 4. Controls and Procedures 66

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 68

Risk Factors

Item 1A. Risk Factors 68

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 68

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 68

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 68

Other Information

Item 5. Other Information 69

Exhibits

Item 6. Exhibits 71

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TRIPLEPOINT VENTURE GROWTH BDC CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (in thousands, except per share data) March 31, 2024 December 31, 2023 Assets (unaudited) Investments at fair value (amortized cost of $ 820,339 and $ 850,142 , respectively) $ 773,605 $ 802,145 Cash and cash equivalents 124 153,328 Restricted cash 639 18,254 Deferred credit facility costs 2,360 2,714 Prepaid expenses and other assets 5,902 2,384 Total assets $ 782,630 $ 978,825 Liabilities Revolving Credit Facility $ 39,000 $ 215,000 2025 Notes, net 69,790 69,738 2026 Notes, net 199,152 199,041 2027 Notes, net 124,187 124,117 Base management fee payable 4,302 4,490 Income incentive fee payable — — Other accrued expenses and liabilities 4,932 20,133 Total liabilities $ 441,363 $ 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 378 376 Paid-in capital in excess of par value 495,015 492,934 Total distributable earnings (loss) ( 154,126 ) ( 147,004 ) Total net assets $ 341,267 $ 346,306 Total liabilities and net assets $ 782,630 $ 978,825 Shares of common stock outstanding (par value $ 0.01 per share and 450,000 authorized) 37,846 37,620 Net asset value per share $ 9.02 $ 9.21 See accompanying notes to consolidated financial statements. 1 TRIPLEPOINT VENTURE GROWTH BDC CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data) For the Three Months Ended March 31, 2024 2023 Investment income Interest income from investments $ 24,740 $ 30,169 Payment-in-kind interest income 3,787 2,085 Other income Expirations/terminations of unfunded commitments 294 972 Other fees 452 403 Total investment and other income 29,273 33,629 Operating expenses Base management

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