TriplePoint Venture Growth BDC commenced an underwritten public offering of 6 million shares of its common stock.
The company plans to grant the underwriters an option to purchase up to an additional 900,000 shares of the company's common stock.
Concurrent with the public offering, the company has agreed to sell 200,000 shares of its common stock through a private placement to certain affiliates of Colony Capital Inc. Additionally, certain accounts managed by Goldman Sachs Asset Management LP are required to purchase 200,000 shares pursuant to a prior agreement with the company.
The company intends to use the net proceeds to make new investments in accordance with its investment objective and strategies and for general working capital purposes.
Morgan Stanley, Wells Fargo Securities, Goldman Sachs & Co. LLC, J.P. Morgan and Keefe Bruyette & Woods are acting as joint book-running managers while Deutsche Bank Securities is acting as lead manager for the public offering.