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TriplePoint Venture Growth BDC Corp. (NYSE:TPVG), a business development company with a market capitalization of $241.63 million and strong financial health according to InvestingPro metrics, disclosed the outcomes of its Annual Meeting of Stockholders, held on April 30, 2025, in a recent SEC filing. The company, which maintains a healthy current ratio of 4.7x and trades at a P/E ratio of 7.33, reported that out of the 40,137,371 shares of common stock eligible to vote, a total of 26,185,730 shares were represented in person or by proxy at the meeting.
During the meeting, stockholders re-elected three Class II directors to the company’s board, slated to serve until the 2028 annual meeting or until their successors are duly elected and qualified. The directors re-elected were Gilbert E. Ahye, Steven P. Bird, and Kimberley H. Vogel. The vote count for each director was as follows: Ahye received 7,058,868 votes for and 3,864,422 withheld; Bird was voted for 7,100,334 times with 3,822,956 votes withheld; Vogel garnered 7,057,036 votes in favor and 3,866,254 withheld. There were 15,262,440 broker non-votes for each director. Notably, the company has maintained its dividend payments for 12 consecutive years, currently offering a substantial 19.77% dividend yield.
Additionally, the stockholders ratified the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification passed with 25,002,788 votes for, 697,766 against, and 485,176 abstentions.
The filing also included an exhibit, specifically the Cover Page Interactive Data File, which was embedded within the Inline XBRL document.
The information for this article is based on a press release statement.
In other recent news, TriplePoint Venture Growth BDC Corp. reported its fourth-quarter 2024 earnings, revealing a slight miss in earnings per share (EPS) and revenue against market expectations. The company posted an EPS of $0.32, falling short of the forecasted $0.35, while revenue came in at $25.75 million, below the anticipated $26.38 million. Despite these setbacks, the company declared a quarterly dividend of $0.30 per share. TriplePoint’s total investment income for the quarter decreased to $26 million from $33 million in the same period last year, contributing to a full-year total of $109 million, down from $137 million in 2023. The company has expressed optimism for 2025, anticipating quarterly fundings between $25 million and $50 million in Q1, with potential increases throughout the year. Analysts from Piper Sandler noted the absence of new credit issues, indicating a stable credit outlook for 2025. Additionally, TriplePoint is focusing on portfolio diversification and investment sector rotation, targeting sectors such as verticalized software, aerospace, defense, health tech, and AI.
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