UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 31, 2017 (July 28, 2017)
TriplePoint Venture Growth BDC Corp.
(Exact name of registrant as specified in its charter)
| Maryland | 814-01044 | 46-3082016 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| TriplePoint Venture Growth BDC Corp. 2755 Sand Hill Road, Suite 150 Menlo Park, California |
94025 | |
| (Address of principal executive offices) | (Zip Code) |
(650) 854-2090
(Registrant’s telephone number, including area code)
n/a
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 28, 2017, the Board of Directors of TriplePoint Venture Growth BDC Corp. (“TPVG” or “the Company”) appointed Andrew J. Olson as the Company’s Chief Financial Officer, to be effective as of August 10, 2017. Mr. Olson also serves as the Chief Financial Officer of TriplePoint Capital LLC, the Company’s sponsor.
Prior to joining TPVG and TriplePoint Capital LLC, Mr. Olson, 34, was an executive officer and the Vice President of Finance and Senior Controller at Hercules Capital, Inc., a publicly traded business development company, from September 2014 to July 2017. From 2006 to 2014 Mr. Olson served as a member of the PricewaterhouseCoopers financial services and banking industry practice group, most recently as a Senior Manager, in San Francisco and Hong Kong. Since 2014, he has served as the Treasurer, Finance Committee Chair and Director for the Randall Museum Friends, a not-for-profit Museum located in San Francisco, CA. Mr. Olson received his B.A. in Business Economics from the University of California, Santa Barbara, and is a Certified Public Accountant in the state of California.
Mr. Olson: (i) was not appointed as the Company’s Chief Financial Officer pursuant to any arrangement or understanding with any other person; (ii) does not have a family relationship with any of the Company’s directors or other executive officers; (iii) has not engaged, since the beginning of the Company’s last fiscal year, nor proposes to engage, in any transaction in which the Company was or is a participant; and (iv) has not entered into, nor expects to enter into, any material plan, contract, arrangement, grant or award in connection with his appointment as the Company’s Chief Financial Officer.
On July 31, 2017, the Company issued a press release announcing the appointment of Mr. Olson as the Company’s Chief Financial Officer. The text of the press release is included as Exhibit 99.1 to this Form 8-K.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description | |
| 99.1 | Press Release dated July 31, 2017 | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TriplePoint Venture Growth BDC Corp. | ||
| By: | /s/ James P. Labe | |
| Name: | James P. Labe | |
| Title: | Chief Executive Officer | |
Date: July 31, 2017
Exhibit 99.1
TriplePoint Venture Growth BDC Corp. Names Andrew J. Olson As Chief Financial Officer
Menlo Park, Calif., July 31, 2017 — TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company” or “TPVG”), today announced the appointment of Andrew J. Olson as Chief Financial Officer to be effective as of August 10, 2017. Mr. Olson also serves as Chief Financial Officer of TriplePoint Capital LLC, TPVG’s sponsor.
“Andrew brings significant venture lending BDC experience to TPVG, and we are delighted he has joined us,” said Jim Labe, chief executive officer and chairman of the board of TPVG.
“Andrew’s public company and accounting experience in the financial services industry will have a positive impact on our global investment platform,” said Sajal Srivastava, president and chief investment officer of TPVG. “I can’t imagine a more exciting time to join us as we continue on our course to grow and enhance stockholder value.”
“I am thrilled to join the TriplePoint team with its industry leading position, strong reputation, high growth portfolio companies and deep relationships with a select group of leading venture capital investors,” said Mr. Olson.
Prior to joining TPVG and TriplePoint Capital, Mr. Olson served as vice president of finance and senior controller of a publicly traded BDC. Before that, he spent eight years with PricewaterhouseCoopers LLP, most recently as senior manager providing audit and consulting services to financial institutions of various sizes and asset classes. Mr. Olson received his B.A. in Business Economics from the University of California, Santa Barbara, and is a Certified Public Accountant in the state of California.
About TriplePoint Venture Growth BDC Corp.
The Company serves as the primary financing source for the venture growth stage business segment of TriplePoint Capital LLC, the leading global provider of financing across all stages of development to technology, life sciences and other high growth companies backed by a select group of venture capital firms. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies. The Company is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. More information is available at http://www.tpvg.com.
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements. Forward-looking statements are not guarantees of future performance, condition or results and involve a number of substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” and variations of these words and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Investor Relations and Media Contact
Abernathy MacGregor Group
Alan Oshiki / Trevor Martin
212-371-5999 / 415-926-7961
aho@abmac.com / trm@abmac.com