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TriplePoint Venture Growth BDC commences public offering of common stock

TriplePoint Venture Growth BDC commenced an underwritten public offering of 5 million shares of its common stock.

The company plans to grant the underwriters an option to purchase up to an additional 750,000 shares of the company's common stock.

Initially, net proceeds from the offering will be used to repay outstanding debt borrowed under the company's credit facility. However, through reborrowing of the initial repayments under the credit facility, the company intends to use the funds to make investments, to pay its operating expenses and other cash obligations, and for general corporate purposes.

Wells Fargo Securities, Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Keefe Bruyette & Woods are acting as joint book-running managers. Compass Point, Deutsche Bank Securities, Janney Montgomery Scott, JMP Securities, Ladenburg Thalmann and Nomura Securities International Inc. are acting as co-managers.