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Trinity Capital Inc. (NASDAQ: TRIN), a premier specialty lending company, provides diversified financial solutions to growth-stage businesses, particularly venture-backed firms and those with institutional equity investors. Since its inception in 2008, Trinity has established itself as a preferred partner for venture loans and equipment leases, working closely with leading venture capital firms to support companies across various industries, including software, healthcare, clean technology, and more.
Trinity's core business revolves around offering debt, including loans and equipment financing, aimed at fueling the growth and extending the runway of high-potential startups. The company's equipment financings involve loans for both general and specific use, secured by either the equipment itself or other assets of the portfolio company.
Trinity's recent achievements include the successful issuance of $100 million in aggregate principal amount of 7.875% notes due 2029, showcasing its robust financial health and ability to attract investor confidence. The company has also adjusted the conversion rate of its 6.00% Convertible Notes due 2025, reflecting its commitment to providing value to its investors through regular dividends and strategic financial maneuvers.
In addition to its strong financial performance, Trinity has expanded its reach globally, establishing a European team led by seasoned industry expert Craig Fox. This strategic expansion aligns with Trinity's long-term vision to support high-growth companies on a global scale, capitalizing on the vibrant tech landscape and venture capital activities in Europe.
Trinity's notable partnerships include a $125 million warehouse facility provided in collaboration with Silicon Valley Bank to fintech infrastructure startup Parafin. This partnership exemplifies Trinity's role in empowering innovative companies with flexible capital solutions, enabling them to scale their operations effectively.
The company's financial results for the first quarter of 2024 highlight its strong operational performance, with total investment income reaching $50.5 million, a significant increase from the previous year. Trinity continues to demonstrate resilience and adaptability, maintaining a diverse portfolio with an aggregate fair value of approximately $1.4 billion and a focus on first lien loans secured by high-quality assets.
For more information about Trinity Capital Inc., please visit their website at www.trinitycap.com.
Trinity Capital (NASDAQ: TRIN) has committed $15 million in growth capital to Cagent Vascular, a medical device company specializing in serration technology for vessel dilation in endovascular interventions. This funding complements a $45 million equity financing round led by US Venture Partners in 2024.
Cagent Vascular's flagship product, Serranator®, enhances angioplasty procedures by providing more controlled lumen gain with minimal dissection while reducing vessel recoil. The technology has been utilized in over 20,000 procedures and will use the new funding to scale commercial infrastructure and accelerate clinical adoption.
Trinity Capital (Nasdaq: TRIN) has released preliminary financial estimates for Q4 and full-year 2024. The company expects Q4 2024 net investment income between $0.58 to $0.60 per share, with net asset value per share estimated between $13.32 to $13.37 as of December 31, 2024.
The alternative asset manager reports investment assets at fair value of approximately $1.7 billion. The company's non-accrual investments represented about 0.8% of the total debt investment portfolio at fair value and 2.6% at cost as of year-end 2024.
Trinity Capital (NASDAQ: TRIN) has announced a $25 million growth capital commitment to Wisetack, a pay-over-time platform specializing in home services financing. Wisetack's platform integrates with existing home service business software, enabling services like HVAC, plumbing, and pest control providers to offer flexible payment options to their customers.
The capital will be used to scale Wisetack's operations and fund growth initiatives. Ryan Thompson, Managing Director of Tech Lending at Trinity Capital, highlighted Wisetack's exceptional growth trajectory, customer experience, and strong market position as key factors in the investment decision. Wisetack's founder and CEO, Bobby Tzekin, emphasized that the partnership will help accelerate their growth and innovation in the home services market.
Trinity Capital Inc. (Nasdaq: TRIN) has received confirmation of its investment grade credit rating of 'BBB (low)' with a stable outlook from Morningstar DBRS. This confirmation was announced by Trinity, a leading alternative asset manager. Morningstar DBRS, which rates over 4,000 issuers and 60,000 securities globally, is recognized as the fourth-largest credit rating agency worldwide and maintains a leading position in Canada, the United States, and Europe across multiple asset classes.
Trinity Capital (NASDAQ: TRIN) has committed $30 million in growth capital to Elucent Medical, a medical technology company specializing in guided surgical technologies. Elucent's flagship product, the EnVisio® System, utilizes In-Body Spatial Intelligence™ to provide physicians with 3D surgical awareness through spatial field generation and SmartClip® markers.
The investment follows Elucent's $44 million Series C funding round earlier in 2024. The new capital will support scaling operations and advancing commercialization efforts. The EnVisio® System transforms standard instruments into smart tools, enabling precise soft-tissue surgical excision through continuous 3D positioning data.
Trinity Capital Inc. (TRIN) has announced its earnings release schedule and conference call details for 2025. The company will release quarterly earnings before market opens, followed by conference calls at 12:00 p.m. ET on the following dates: February 26 (Q4/FY 2024), May 7 (Q1 2025), August 6 (Q2 2025), and November 5 (Q3 2025).
For the Q4/FY 2024 call, investors can dial (800) 267-6316 or (203) 518-9783 internationally, using Conference ID: TRINQ424. A replay will be available until March 5, 2025, accessible at (800) 723-0389 or (402) 220-2647. A live webcast will be available on the company's investor relations website, with the replay accessible for 90 days.
Trinity Capital (NASDAQ: TRIN) has announced a significant milestone: its equipment finance vertical has exceeded $1 billion in fundings to high-growth companies since 2018. The achievement highlights the company's role in supporting business growth across various sectors, including manufacturing & automation, energy, space technology, climate tech, and artificial intelligence.
The company has established itself as a key player in capital expenditure financing, supporting notable companies like Hermeus Corp., DrinkPAK, Hadrian Automation, Rocket Lab USA, and Dandelion Energy. This financing solution enables companies to access capital without equity dilution, strengthening their capital structure.
The cited fundings include debt investments made through Trinity Capital's predecessor funds (launched in 2008) until January 16, 2020, when these funds merged with Trinity Capital as it began operating as a business development company.
Trinity Capital (NASDAQ: TRIN) has announced a $30 million growth capital commitment to Silk Technologies, a software-defined cloud storage provider. Silk's platform specializes in enhancing cloud applications and databases performance while optimizing cloud resource usage and data management costs.
The company has demonstrated significant growth, doubling its revenue over the past two years through new customer acquisitions. The funding will support Silk's operational scaling and growth initiatives, particularly as AI drives increased demand for data processing capabilities. The company's solutions target various sectors including finance, healthcare, insurance, and retail industries.
Trinity Capital (NASDAQ: TRIN) has committed $12.5 million in growth capital to Upward Health, an in-home healthcare provider specializing in 24/7 whole-person care for high-risk patients. The funding is part of a larger debt financing package that includes an additional $7.5 million from Comerica Bank, alongside a Series C fundraise led by Heritage Group and Blue Venture Fund.
Upward Health, ranked 7th on the 2023 Inc. 5000 list and 6th in 2024 among fastest-growing private U.S. companies, will use the capital to fund growth initiatives, expand coverage area, and refine their care model. The company partners with health plans and risk-bearing entities to improve health outcomes and quality of life for high-need patients.
Trinity Capital (Nasdaq: TRIN), a leading alternative asset manager, announced a record funding of $1.2 billion in investments for 2024. The company originated $1.6 billion in new commitments throughout the year.
In the fourth quarter of 2024, Trinity funded $297 million, which included $190 million in secured loans, $96 million in equipment financings, and $11 million in warrant and equity investments. The company also originated $411 million in new commitments during the same period.
For the full year, Trinity's investments included $887 million in secured loans, $304 million in equipment financings, and $38 million in warrant and equity investments. The company funded $968 million to 39 new portfolio companies and $245 million to 28 existing portfolio companies. Proceeds from repayments and exits totaled $808 million, including $314 million from early debt repayments and refinancings.
CEO Kyle Brown expressed satisfaction with the year's performance, highlighting the company's unique business structure and value creation for investors and partners.
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