Sign in

TPVG on NYSE

TriplePoint Venture Growth BDC Corp.

Corporation registered in the United States, active since 20132

In its 2026 annual report the company says: “We are an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company, or “BDC,” under the Investment Company Act of 1940, as amended, or the “1940 Act.”4 It is headquartered in Lutherville Timonium, United States.2 Its shares trade on NYSE under the symbol TPVG.2

Price unavailable

Last updated Oct 21, 2026.

Overview

Compare with another stock.

  • TickerTPVG on NYSE2
  • HeadquartersLutherville Timonium, United States2
  • Incorporated inMD3
  • Business address2735 Sand Hill Road, Suite 100, Menlo Park, Ca3
  • Filer categoryAccelerated filer3
  • Legal formStock Corporation2
  • LEI549300ATPBY6JIFH9Z882
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O DISCERN REGISTERED AGENT INC., 21401 Annapolis, United States2
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D153249082

See how the biggest companies compare on our leaderboards

We are an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company, or “BDC,” under the Investment Company Act of 1940, as amended, or the “1940 Act.” We have also elected to be treated, and intend to qualify annually, as a regulated investment company, or “RIC,” under Subchapter M of the Internal Revenue Code of 1986, as amended, or the “Code,” for U.S. federal income tax purposes.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income567$49.2M in 2025−36% since 2021
-$50.0M0$50.0M$100.0M2021: $76.6M$76.6M20212022: -$20.1M-$20.1M20222023: -$39.8M-$39.8M2023+98%2024: $32.0M$32.0M20242025: $49.2M$49.2M2025+54%

Every line of the income statement as filed: the last 5 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-312022-12-312021-12-31
Interest income from investments$69.7M$91.3M$121.6M
Payment-in-kind interest income$18.5M$15.1M$11.6M
Expirations/terminations of unfunded commitments$566.0K$441.0K$1.9M
Other fees$2.1M$1.8M$2.3M
Total investment and other income$90.9M$108.6M$137.5M
Base management fee$13.5M$15.0M$17.9M
Income incentive fee$5.3M$0$0
Interest expense and amortization of fees$26.5M$30.4M$36.8M
Administration Agreement expenses$2.5M$2.4M$2.3M
General and administrative expenses$6.1M$6.3M$6.7M
Total operating expenses before Income incentive fee waiver$54.0M$54.1M$63.7M
Income incentive fee waiver-$5.3M$0$0
Total operating expenses net of Income incentive fee waiver$48.7M$54.1M$63.7M
Net investment income$42.3M$54.5M$73.8M
Net realized gains (losses) on investments$6.3M-$33.0M-$75.8M
Net change in unrealized gains (losses) on investments$664.0K$10.5M-$37.9M
Net realized and unrealized gains/(losses)$6.9M-$22.5M-$113.6M
Net increase (decrease) in net assets resulting from operations$49.2M$32.0M-$39.8M
Net investment income per share, Basic (in dollars per share)$1.05$1.40$2.07
Net investment income per share, Diluted (in dollars per share)$1.05$1.40$2.07
Net increase (decrease) in net assets per share (in dollars per share)$1.22$0.82-$1.12-$0.61$2.47
Weighted average shares of common stock outstanding, Basic (in shares)40.3M shares39.1M shares35.7M shares32.7M shares30.9M shares
Weighted average shares of common stock outstanding, Diluted (in shares)40.3M shares39.1M shares35.7M shares32.7M shares30.9M shares
Regular distributions declared per share (in dollars per share)$1.06$1.40$1.60
Supplemental distributions declared per share (in dollars per share)$0.02$0.00$0.00
Total distributions declared per share, Basic (in dollars per share)$1.08$1.40$1.60
Total distributions declared per share, Diluted (in dollars per share)$1.08$1.40$1.60

Compare TriplePoint Venture Growth BDC Corp. with another company

Corporate structure

TriplePoint Venture Growth BDC Corp. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of TriplePoint Venture Growth BDC Corp.

  • TriplePoint Venture Growth BDC Corp. Lutherville Timonium, California, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What TriplePoint Venture Growth BDC Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$20.4M7 Dec 31, 2025$45.9M7 Dec 31, 2024−55.6%

Properties, in its own words

We do not own any real estate or other physical properties materially important to our operations. Our executive offices are located at 2755 Sand Hill Road, Suite 150, Menlo Park, California 94025. These offices are provided by our Administrator pursuant to the Administration Agreement. We believe that our facilities are suitable and adequate for our business.

Item 2 of the 10-K filed Mar 4, 2026.4

Leadership

Who has led TriplePoint Venture Growth BDC Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. James Labe2014–now

President

  1. Sajal Srivastava2014–now

Chief financial officer

  1. Harold Spencer2014
  2. Harold F. Zagunis2014
  3. Andrew Olson2017
  4. Christopher M. Mathieu2019–2022
  5. Matthew Galiani2024
  6. Mike Wilhelms2025
201520202025
Board members and other officers (10)

Timeline

  1. Oct 15, 20268-K Regulation FD disclosure; Other events27
  2. Sep 21, 20268-K Executive or director change; Regulation FD disclosure28
  3. Aug 5, 20268-K Results of operations; Regulation FD disclosure29
  4. May 6, 20268-K Results of operations; Regulation FD disclosure30
  5. May 1, 20268-K Shareholder vote31
  6. Mar 4, 20268-K Results of operations; Regulation FD disclosure32
  7. Mar 2, 20268-K Entered a material agreement; New debt or obligation33
  8. Dec 1, 20258-K Entered a material agreement; New debt or obligation; Regulation FD disclosure34
  9. Nov 5, 20258-K Results of operations; Regulation FD disclosure35
  10. Oct 14, 20258-K Regulation FD disclosure; Other events36
  11. Aug 6, 20258-K Results of operations; Regulation FD disclosure37
  12. May 7, 20258-K Results of operations; Regulation FD disclosure38
  13. Mar 5, 2014New chief executive James Labe becomes CEO11
  14. Jun 28, 2013Founded TriplePoint Venture Growth BDC Corp. is founded2

Calendar

Coming up

  1. Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.26 a share, on Nov 5, 2025.39

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results29
  2. May 6, 2026Reported quarterly or annual results30
  3. Mar 4, 2026Reported quarterly or annual results32
  4. Nov 5, 2025Reported quarterly or annual results35
  5. Aug 6, 2025Reported quarterly or annual results37
  6. May 7, 2025Reported quarterly or annual results38
  7. Mar 5, 2025Reported quarterly or annual results40
  8. Nov 6, 2024Reported quarterly or annual results41

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

180 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 72 insider forms, 1 large holders, 40 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Sep 22, 20264 EDGAR
  3. Sep 22, 20264 EDGAR
  4. Sep 22, 2026SCHEDULE 13D EDGAR
  5. Sep 21, 20268-K EDGAR
  6. Aug 5, 202610-Q EDGAR
  7. Aug 5, 20268-K EDGAR
  8. May 6, 202610-Q EDGAR
  9. May 6, 20268-K EDGAR
  10. May 1, 20268-K EDGAR
  11. Apr 30, 2026CORRESP EDGAR
  12. Mar 13, 202640-17G EDGAR
  13. Mar 9, 2026DEFA14A EDGAR
  14. Mar 9, 2026DEF 14A EDGAR
  15. Mar 4, 202610-K EDGAR
  16. Mar 4, 20268-K EDGAR
  17. Mar 2, 20268-K CURRENT REPORT EDGAR
  18. Jan 13, 20264 EDGAR
  19. Jan 13, 20264 EDGAR
  20. Jan 9, 20264 EDGAR

The 180 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

127 open-market trades by officers, directors and large owners since October 2021: 126 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 18, 2026Srivastava SajalPresident and CIOSale313,865$4.71$1.5MForm 4
Sep 18, 2026Labe JamesChief Executive OfficerBuy313,865$4.71$1.5MForm 4
Jan 12, 2026Srivastava SajalPresident and CIOBuy23,799$6.66$158.5KForm 4
Jan 12, 2026Labe JamesChief Executive OfficerBuy23,799$6.66$158.5KForm 4
Jan 9, 2026Srivastava SajalPresident and CIOBuy16,000$6.56$105.0KForm 4
Jan 9, 2026Labe JamesChief Executive OfficerBuy16,000$6.56$105.0KForm 4
Jan 8, 2026Srivastava SajalPresident and CIOBuy16,833$6.61$111.3KForm 4
Jan 8, 2026Labe JamesChief Executive OfficerBuy16,833$6.61$111.3KForm 4
Jan 7, 2026Srivastava SajalPresident and CIOBuy30,877$6.43$198.5KForm 4
Jan 7, 2026Labe JamesChief Executive OfficerBuy30,877$6.43$198.5KForm 4
Jan 6, 2026Srivastava SajalPresident and CIOBuy34,000$6.61$224.7KForm 4
Jan 6, 2026Labe JamesChief Executive OfficerBuy34,000$6.61$224.7KForm 4
Jan 5, 2026Srivastava SajalPresident and CIOBuy40,000$6.70$268.0KForm 4
Jan 5, 2026Labe JamesChief Executive OfficerBuy40,000$6.70$268.0KForm 4
Jan 2, 2026Srivastava SajalPresident and CIOBuy27,153$6.60$179.2KForm 4
Jan 2, 2026Labe JamesChief Executive OfficerBuy27,153$6.60$179.2KForm 4
Dec 31, 2025Srivastava SajalPresident and CIOBuy30,459$6.55$199.5KForm 4
Dec 31, 2025Labe JamesChief Executive OfficerBuy30,459$6.55$199.5KForm 4
Dec 30, 2025Srivastava SajalPresident and CIOBuy39,814$6.44$256.4KForm 4
Dec 30, 2025Srivastava SajalPresident and CIOBuy25,000$6.45$161.2KForm 4

All 127 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 63. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Two Sigma Investments, LP618,001$3.0M0.0%−232,938
Marshall Wace, Llp337,655$1.7M0.0%−59,134
Legal & General Group Plc325,584$1.6M0.0%+14,054
BlackRock, Inc.153,663$754.5K0.0%−2,883
Bank Of America Corp /de/126,269$620.0K0.0%+58,083
Morgan Stanley122,506$601.5K0.0%−17,996
Wells Fargo & Company/mn115,985$569.5K0.0%+3,789
UBS Group AG84,998$417.3K0.0%−122,619
Kovack Advisors, Inc.79,219$401.6K0.0%+12,850
LPL Financial LLC65,604$322.1K0.0%−1,775
Samalin Investment Counsel, LLC61,743$303.2K0.1%−37,850
Cetera Investment Advisers58,077$285.2K0.0%+3,778
Virtus Investment Advisers, LLC53,323$261.8K0.1%−15,190
Eagle Global Advisors LLC40,695$199.8K0.0%−3,665
Arax Advisory Partners40,300$197.9K0.0%New
Prospera Financial Services Inc39,760$195.2K0.0%+4,951
Ethos Financial Group, LLC40,360$194.4K0.0%−3,200
Closed-End Fund Advisors, Inc.33,804$166.0K0.2%−1,320
Cresset Asset Management, LLC32,814$161.1K0.0%+1,454
Osaic Holdings, Inc.32,014$157.2K0.0%+11,064
Meridian Wealth Management, LLC30,000$147.3K0.0%No change
&partners23,860$117.2K0.0%New
Norden Group LLC22,985$112.9K0.0%−106,751
Envestnet Asset Management Inc21,865$107.4K0.0%New
IMC-Chicago, LLC21,431$105.2K0.0%+7,902

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How TriplePoint Venture Growth BDC Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTriplePoint Venture Growth BDC Corp.1
  • CIK0001580345
  • Employer ID (EIN)46-30820164
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inMaryland4
  • Fiscal year endsDecember 311
  • Business address2735 Sand Hill Road, Suite 100, Menlo Park, CA1
  • Phone(650) 854-20901
  • Shares outstanding40,709,723 as of Aug 5, 20269
  • Public float$278.8M as of Jun 30, 20254
  • AuditorDeloitte & Touche LLP, San Francisco, California PCAOB ID 34; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceJul 10, 20131
  • Filings465 in all: 8-K (117), 4 (96), 10-Q (38), CORRESP (23), 3 (17), SC 13G/A (14), 40-17G (13), DEF 14A (13)1
    All 40 form types

    10-K (12), 497 (11), 497AD (11), EFFECT (9), N-2/A (9), SC 13G (9), DEFA14A (8), 40-33 (6), N-2 (6), POS 8C (6), 40-APP/A (5), 40-APP (4), 424B2 (4), 8-A12B (3), APP NTC (3), APP ORDR (3), POS EX (3), 25-NSE (2), 4/A (2), CERTNYS (2), D (2), N-23C-2 (2), PRE 14A (2), UPLOAD (2), 40-17G/A (1), 8-K/A (1), APP WD (1), DRS (1), DRS/A (1), N-54A (1), N-6F (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Mar 4, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Mar 9, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareTPVGThe New York Stock Exchange

From the cover page of the 10-K filed Mar 4, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks TriplePoint Venture Growth BDC Corp. names in Item 1A of its 10-K filed Mar 4, 2026: 76 risks under these headings, as written.4

  • Risks Relating to our Business and Structure
  • Deterioration in the economy and financial markets increases the likelihood of adverse effects on our financial position and results of operations. Such economic adversity could impair our portfolio companies’ financial positions and operating results and affect the industries in which we invest, which could, in turn, harm our operating results.
  • A failure on our part to maintain our status as a BDC may significantly reduce our operating flexibility.
  • We are dependent upon our executive officers and our Adviser’s senior investment team and, in particular, Messrs. Labe and Srivastava, for our success and upon our Adviser’s access to such individuals pursuant to the Staffing Agreement. If our Adviser were to lose such access, our ability to achieve our investment objective could be significantly harmed.
  • Our business model depends, in part, upon TPC’s relationships with a select group of leading venture capital investors. Any inability of TPC to maintain or develop these relationships, or the failure of these relationships to result in referrals of investment opportunities for us, could have a material adverse effect on our business.
  • Our success depends on the ability of TPC and our Adviser to attract and retain qualified personnel in a competitive environment.
  • We may not replicate the historical results achieved by TPC or members of its senior investment team.
  • The nature of our approach to our business may lead to volatility and variability from period to period with respect to new originations. Our financial condition and results of operations depend upon our ability to effectively manage credit, deploy capital and grow our business.
  • We operate in a highly competitive market for investment opportunities, and we may not be able to compete effectively.
  • We will be subject to U.S. federal corporate-level income tax and may default under our current or future borrowing arrangements if we are unable to maintain our qualification and tax treatment as a RIC under Subchapter M of the Code.
  • We may need to raise additional capital to grow. If additional capital is not available or not available on favorable terms, our ability to grow will be impaired.
  • We may have difficulty paying our required distributions if we recognize income before, or without, receiving cash representing such income.
The other 65 risks
  • The amount and frequency of any distributions we may make is uncertain. You may not receive distributions or our distributions may not grow over time.
  • Regulations governing our operation as a BDC affect our ability to, and the way in which we, raise additional capital. As a BDC, the necessity of raising additional capital may expose us to risks, including typical risks associated with leverage. The net asset value per share of our common stock may be diluted if we issue or sell securities to subscribe for or convertible into shares of our common stock.
  • Incurring additional leverage could increase the risk of investing in the Company. The use of leverage may increase the likelihood of our defaulting on our obligations.
  • We finance certain of our investments with borrowed money, which magnifies the potential for gain or loss on amounts invested and increases the risk of investing in us.
  • We may default under the Credit Facility, the note purchase agreements governing our outstanding unsecured notes or any future indebtedness or be unable to amend, repay or refinance any such facility or financing arrangement on commercially reasonable terms, or at all, which could have a material adverse effect on our financial condition, results of operations and cash flows.
  • We are exposed to risks associated with changes in interest rates, which may affect our cost of capital and net investment income. In addition, if the Credit Facility or similar financing arrangement were to become unavailable, it could have a material adverse effect on our business, financial condition and results of operations.
  • Provisions in our current debt obligations or any future indebtedness may limit our discretion in operating our business.
  • Adverse developments in the credit markets may impair our ability to amend any existing borrowing facility or enter into any other future borrowing facility.
  • If we do not invest a sufficient portion of our assets in qualifying assets, we could fail to qualify as a BDC or be precluded from investing according to our current business strategy.
  • Our investment portfolio is recorded at fair value, with our Board having final responsibility for overseeing, reviewing and approving, in good faith, such fair value and, as a result, there is uncertainty as to the value of our portfolio investments, which may impact our net asset value.
  • We are obligated to maintain proper and effective internal control over financial reporting. We may not complete our analysis of our internal control over financial reporting in a timely manner, or our internal controls may not be determined to be effective, which may adversely affect investor confidence in our company and, as a result, the value of our securities.
  • Our Board may change our investment objective, operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse.
  • Provisions of the Maryland General Corporation Law and of our charter and bylaws could deter takeover attempts and have an adverse impact on the price of our common stock.
  • Our Adviser or our Administrator can resign upon 60 days’ notice and we may not be able to find a suitable replacement within that time, or at all, resulting in a disruption to our operations that could materially and adversely affect our financial condition, results of operations and cash flows.
  • The failure in cyber security systems, as well as the occurrence of events unanticipated in our Adviser’s disaster recovery systems and management continuity planning or a support failure from external providers during a disaster could impair our ability to conduct business effectively.
  • If we are unable to manage our growth, our results of operations could suffer.
  • We, the Adviser, and our portfolio companies may maintain cash balances at financial institutions that exceed federally insured limits and may otherwise be materially affected by adverse developments affecting the financial services industry or venture banking ecosystem, such as actual events or concerns involving liquidity, defaults or non-performance by financial institutions or transactional counterparties.
  • Risks Relating to our Conflicts of Interest
  • Our ability to enter into transactions with our affiliates and to make investments in venture capital-backed companies along with our affiliates is restricted by the 1940 Act which may limit the scope of investment opportunities available to us.
  • Our Adviser may be subject to conflicts of interest with respect to taking actions regarding investments in which TPC or its affiliates may also have an interest.
  • The advisory fee structure we have with our Adviser may create incentives that are not fully aligned with the interests of our stockholders.
  • Our incentive fee may induce our Adviser to pursue speculative investments and to use leverage when it may be unwise to do so.
  • We may pay our Adviser an incentive fee on certain investments that include a deferred interest feature.
  • The valuation process for certain of our investments may create a conflict of interest.
  • There are conflicts related to our other arrangements with TPC and our Administrator.
  • The Investment Advisory Agreement was not negotiated at arm’s length and may not be as favorable to us as if it had been negotiated with an unaffiliated third party.
  • Our Adviser’s liability is limited under the Investment Advisory Agreement and we have agreed to indemnify our Adviser against certain liabilities, which may lead our Adviser to act in a riskier manner on our behalf than it would when acting for its own account.
  • Risks Relating to our Investments
  • Our investments are concentrated in technology and other high growth industries, some of which involve significant risks, including highly volatile markets and extensive government regulation, which expose us to the risk of significant loss if any of these industry sectors experiences a downturn.
  • We and our portfolio companies are subject to risks associated with artificial intelligence and machine learning technology.
  • We may be subject to risks associated with our investments in unitranche secured loans and securities.
  • Our portfolio may lack diversification among portfolio companies which may subject us to a risk of significant loss if one or more of these companies default on their obligations under any of their debt instruments.
  • Our financial condition, results of operations and cash flows would be negatively affected if a significant portfolio investment fails to perform as expected.
  • Our investment strategy includes a primary focus on venture capital-backed companies, which are subject to many risks, including dependence on the need to raise additional capital, volatility, intense competition, shortened product life cycles, changes in regulatory and governmental programs, periodic downturns, and below investment grade ratings, which could cause you to lose all or part of your investment in us.
  • Some of our portfolio companies may need additional capital, which may not be readily available.
  • Our existing and/or future portfolio companies may not draw on any of our unfunded obligations or may draw our outstanding unfunded obligations at a time when our capital is not readily available.
  • Unlike traditional lenders, we offer a flexible payment and covenant structure to our portfolio companies and may choose not to take advantage of certain opportunities due to our long-term investment philosophy to develop and maintain deep and longstanding relationships with TPC’s select group of leading venture capital investors, borrowers and entrepreneurs and to preserve our reputation.
  • If our portfolio companies are unable to protect their intellectual property rights, our business and prospects could be harmed. If our portfolio companies are required to devote significant resources to protecting their intellectual property rights, then the value of our investment could be reduced.
  • We and our service providers face significant cybersecurity and data privacy risks; our relationship with certain portfolio companies may also expose us to trade secrets and confidential information, unauthorized access or disclosure of which could expose us to regulatory action, litigation, reputational harm, and material operational disruption.
  • Our financial condition, results of operations and cash flows could be negatively affected if we are unable to recover our principal investment as a result of a negative pledge or lack of a security interest on the intellectual property of our portfolio companies.
  • If the assets securing the loans that we make decrease in value, then we may lack sufficient collateral to cover losses.
  • Our portfolio companies may have limited operating histories and financial resources.
  • We make debt investments in venture capital-backed companies that generally do not have sufficient cash resources to repay our loans in full at the time of their origination.
  • There may be circumstances when our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims.
  • The lack of liquidity in our investments may materially and adversely affect our ability to meet our investment objectives.
  • Publicly traded securities involve significant risks that differ from those associated with non-traded securities.
  • Any unrealized losses we experience on our investment portfolio may be an indication of future realized losses, which could reduce our funds available for distribution and could have a material adverse effect on our ability to service our outstanding borrowings.
  • Our stockholders do not have any input in our Adviser’s investment decisions.
  • Because we generally do not hold controlling equity interests in our portfolio companies, we are not able to exercise control over our portfolio companies or prevent decisions by their management that could decrease the value of our investment.
  • We may suffer a loss if a portfolio company defaults on a loan, including the entire or partial loss of the accrued PIK interest, the end-of-term payment and/or OID, such as warrant investments and facility fees due to us. To the extent we invest in OID instruments, including PIK loans, zero coupon bonds, and debt securities with attached warrants, you will be exposed to certain risks associated with such investments.
  • Prepayments of our loans could have a material adverse impact on our results of operations and our ability to make stockholder distributions, increase the risk of violating 1940 Act provisions applicable to BDCs and breaching covenants under our borrowing arrangements, and could result in a decline in the market price of our shares.
  • Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies.
  • The disposition of our investments may result in contingent liabilities.
  • Our equity related investments are highly speculative, and we may not realize gains from these investments.
  • Investments in foreign companies may involve significant risks in addition to the risks inherent in investment in U.S. companies.
  • We may expose ourselves to risks resulting from our use of hedging transactions.
  • Our failure to make protective or follow-on investments in our portfolio companies could impair the value of our portfolio.
  • The effect of global climate change may impact the operations of our portfolio companies.
  • Risks Relating to our Common Stock and Securities
  • Our common stock may trade below our net asset value per share, which limits our ability to raise additional equity capital.
  • Our stockholders will experience dilution in their ownership percentage if they opt out of our dividend reinvestment plan and participating stockholders can experience dilution in the value of their shares if we distribute shares through our dividend reinvestment plan at a price below the then-current NAV.
  • You may receive shares of our common stock through our dividend reinvestment plan, and we may otherwise choose to pay dividends in our common stock, in which case you may be required to pay tax in excess of the cash you receive.
  • The market price of our common stock may fluctuate significantly.
  • Our business and operation could be negatively affected to the extent we are subject to any securities litigation or shareholder activism, which could cause us to incur significant expense, hinder execution of investment strategy and impact our stock price.
  • Sales of substantial amounts of our common stock in the public market may have an adverse effect on the market price of our common stock.
  • Terms relating to redemption may have a material adverse effect on the return on any debt securities that we may issue.
  • We may not be able to prepay our outstanding unsecured notes upon a change in control.
  • Our outstanding notes are unsecured and therefore are effectively subordinated to any secured indebtedness we have currently incurred or may incur in the future.

Legal proceedings

Neither we, the Adviser, nor our subsidiaries are currently subject to any material pending legal proceedings, other than ordinary routine litigation incidental to our businesses. We, the Adviser, and our subsidiaries may from time to time, however, be involved in litigation arising out of our operations in the normal course of business or otherwise. Furthermore, third parties may seek to impose liability on us in connection with the activities of our portfolio companies. While the outcome of any current legal proceedings cannot at this time be predicted with certainty, we do not expect any current matters will materially affect our financial condition or results of operations; however, there can be no assurance whether any pending or future legal proceedings will have a material adverse effect on our financial condition or results of operations in any future reporting period.

The opening of Item 3, Legal Proceedings.4

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42