TriplePoint Venture Growth BDC (TPVG) Tops Q3 EPS by 3c

TriplePoint Venture Growth BDC (NYSE: TPVG) reported Q3 EPS of $0.27, $0.03 better than the analyst estimate of $0.24.

• Signed a record $267.0 million of new term sheets and closed $121.9 million of new debt commitments to venture growth stage companies;
• Funded a record $82.8 million in debt investments and $0.3 million in equity investments to eleven portfolio companies;
• Achieved a 15.4% weighted average annualized portfolio yield on debt investments for the third quarter;
• Earned GAAP net investment income of $4.4 million ($0.27 per share);
• Realized $1.0 million of gains from the sale of warrants and equity investments ($0.07 per share);
• Issued $74.8 million of 5.75% notes due 2022 (NYSE: TPVY), redeemed $54.6 million of 6.75% notes due 2020 (NYSE: TPVZ);
• Appointed Andrew J. Olson as Chief Financial Officer;
• Portfolio company Blue Bottle Coffee, Inc. announced selling a majority stake to Nestlé S.A.;
• Net asset value of $214.8 million, or $13.39 per share, at September 30, 2017;
• Declared a fourth quarter distribution of $0.36 per share, payable on December 1, 2017; bringing total distributions to $5.54 per share since IPO;
• Subsequent to the third quarter, raised approximately $21.6 million in a private placement from investment funds managed by the Alternative Investments & Manager Selection Group of Goldman Sachs Asset Management, L.P. (“GSAM AIMS”) purchasing 1.6 million shares at $13.54 per share.

For earnings history and earnings-related data on TriplePoint Venture Growth BDC (TPVG) click here.

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