other material
confidence high
sentiment negative
materiality 0.85
TriplePoint borrower Medly Health files Ch 11; TPVG expects full write-down of investments
TriplePoint Venture Growth BDC Corp.
- Medly Health Inc. filed for Chapter 11 on Dec 9, 2022 due to irregularities and liquidity issues.
- TPVG placed Medly investments on non-accrual effective Oct 1, 2022.
- TPVG expects to fully write-down fair value of existing Medly investments, excluding up to $3.4M DIP facility.
- TPVG holds non-controlling economic interest in stalking horse purchase of Medly's Pharmaca line.