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) 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
Trinity Capital Inc. (NASDAQ: TRIN) has announced a public offering of $55 million in common stock, priced at $15.33 per share, up from an initial $50 million target. The underwriters have a 30-day option to purchase an additional 538,160 shares. Proceeds will be used to reduce existing debt, support investment activities, and for general corporate purposes. Expected delivery of shares is on August 18, 2022. This offering is filed under an effective shelf registration statement with the SEC.
Trinity Capital Inc. (Nasdaq: TRIN) announced a $50.0 million underwritten public offering of its common stock. The offering is subject to market conditions and includes a 30-day option for underwriters to purchase additional shares. Proceeds will be used to reduce existing debt, make investments, and for general corporate purposes. The offering is managed by several financial institutions including Keefe, Bruyette & Woods and Morgan Stanley. Investors should review the preliminary prospectus for important details.
Trinity Capital Inc. (TRIN) reported strong financial results for Q2 2022, with total investment income increasing by 71.8% year-over-year to $33.5 million. Net investment income rose 55.4% to $15.7 million ($0.51 per share). The company committed $302.3 million in investments, funding $193.8 million to 28 companies. However, net asset value (NAV) per share decreased to $14.62 from $15.15, and there were realized and unrealized losses totaling $23.4 million. A cash dividend of $0.57 per share was declared, reflecting continued shareholder returns.
Trinity Capital Inc. (Nasdaq: TRIN) has successfully closed a public offering of an additional $50.0 million of its 7.00% Notes due 2025 on July 22, 2022. The notes were issued at 99.52% of the principal amount, totaling $175.0 million in outstanding notes expected to trade on Nasdaq. The net proceeds of approximately $48.0 million will be used to pay down existing debt, support investments, and for general corporate purposes. The offering includes a 30-day option for underwriters to purchase an additional $7.5 million in notes.
On July 20, 2022, Trinity Capital Inc. (Nasdaq: TRIN) announced the pricing of a public offering for an additional $50.0 million of 7.00% notes due 2025. The offering includes a 30-day over-allotment option of up to $7.5 million. Following this issuance, total principal will rise to $175.0 million, or $182.5 million if the over-allotment is fully exercised. Proceeds will primarily reduce outstanding debt, with $232.0 million currently owed to KeyBank. The offering is expected to close on July 22, 2022.
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