Welcome to our dedicated page for Trinity Capital news (Ticker: TRIN), a resource for investors and traders seeking the latest updates and insights on Trinity Capital stock.
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 Inc. (NASDAQ: TRIN) announced on December 14, 2022, that it received exemptive relief from the SEC, allowing it to create and fully own a portfolio company as a registered investment adviser under the Investment Advisers Act of 1940. This exemption is expected to enhance Trinity's investment platform and expand its portfolio, providing new opportunities for growth and shareholder value. Kyle Brown, President and CIO, emphasized the significance of this milestone in pursuing accretive investment opportunities.
Trinity Capital Inc. (NASDAQ: TRIN) announced participation in the KBW BDC Midtown March on December 14, 2022, at 787 7th Avenue, New York, NY. The company provides diverse financial solutions to growth-stage businesses, focusing on generating income and capital appreciation through various investments. Interested parties can schedule one-on-one meetings with management via a KBW representative or by emailing ir@trincapinvestment.com. For more information, visit www.trinitycap.com.
Trinity Capital Inc. (NASDAQ: TRIN) has entered a joint venture (JV) agreement to co-manage i40, LLC, aimed at investing in loans and equipment financing for growth-stage companies. The JV has an initial capital commitment of $171.4 million, including $21.4 million from Trinity and $150 million from a specialist credit manager. This partnership is expected to enhance returns and expand Trinity's non-dilutive investment capacity, supporting the company's objective to generate income and capital appreciation.
Trinity Capital Inc. (Nasdaq: TRIN) has authorized a stock repurchase program worth $25 million aimed at acquiring its own common stock. The board believes that market pressures have undervalued its shares, presenting an opportunity to enhance shareholder value. While the program is set to run until November 11, 2023, repurchases will occur based on market conditions and are subject to regulatory guidelines. The decision underscores the company's confidence in its stability and future prospects amidst economic uncertainty.
Trinity Capital reported robust financial results for Q3 2022, with total investment income reaching $38.7 million, up 77.5% year-over-year. Net investment income surged to $18.6 million, or $0.56 per share, marking a 67.6% increase. However, net asset value per share declined to $13.74 from $14.62 in Q2. The company declared a dividend of $0.60 per share, including a regular dividend of $0.45 and a supplemental $0.15. Despite challenges, Trinity continues to grow its investment commitments, totaling $128.1 million.
Trinity Capital Inc. (Nasdaq: TRIN) will announce its third quarter 2022 financial results on November 3, 2022, post-market close. A conference call is scheduled for 2:00 PM PT (5:00 PM ET) to discuss the results. Investors can dial (800) 245-3047 in the U.S. or (203) 518-9765 internationally, referencing Conference ID: TRINQ322. A live webcast will also be available on the Company's investor relations website, with a replay accessible for 90 days. Trinity Capital specializes in financial solutions for growth-stage companies.
Trinity Capital Inc. (NASDAQ: TRIN) announced adjustments to the conversion rate of its 6.00% Convertible Notes due 2025 due to a cash dividend of $0.60 per share, effective October 14, 2022. The conversion rate increases to 70.3524 shares per $1,000 of notes from 68.7855 shares, adjusting the conversion price to $14.21 from $14.54. The adjustment follows the payment of a regular dividend of $0.45 and a supplemental dividend of $0.15, exceeding the initial threshold set in the indenture. The Company aims to distribute 90% to 100% of its taxable income during the year.
Trinity Capital Inc. (Nasdaq: TRIN) announced the appointment of Lauren Cosentino as Managing Director, Life Sciences, based in North Carolina's Research Triangle Park. With over a decade of experience, she previously served as SVP Commercial Lending at Bridge Bank, focusing on life sciences and technology sectors. Rob Lake, Managing Director of Life Sciences, emphasized her expertise will be crucial for expanding their portfolio in disruptive technologies. Trinity Capital aims to provide diversified financial solutions to growth-stage companies while generating current income and capital appreciation.
On September 15, 2022, Trinity Capital (Nasdaq: TRIN) declared a cash dividend of $0.60 per share for Q3 2022, consisting of a regular dividend of $0.45 and a supplemental dividend of $0.15. This marks a 5.3% increase from the previous quarter's dividend. The dividend will be paid from undistributed taxable income as of December 31, 2021. Key dates include a record date of September 30, 2022, and a payment date of October 14, 2022. The company's strategy aims to distribute approximately 90% to 100% of its taxable income to qualify for specific tax treatment.
Ambient Photonics has secured an additional
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