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) has successfully closed a $30 million equipment financing line for Aledia, a company specializing in next-generation microLED displays. Aledia plans to leverage these funds for enhancing its in-house manufacturing processes and accelerating product development. Known for its proprietary 3D technology using gallium-nitride, Aledia aims to disrupt the global display market, targeting diverse applications including smartphones and VR systems. This partnership signifies a crucial step for Aledia as it advances its innovative display technology.
Trinity Capital reported robust first-quarter results for 2022, showcasing a total investment income of $31.8 million, a significant 83.8% increase year-over-year. Net investment income rose 115.2% to $15.6 million or $0.57 per share. The company realized gains of $52.6 million on equity sales and declared an increased dividend of $0.40 per share, along with a $0.15 supplemental cash dividend. However, the net asset value per share decreased to $15.15 due to unrealized losses surpassing realized gains. The investment portfolio's fair value reached $919.3 million.
viaPhoton has expanded its capital base to $100 million through an $80 million transaction with Trinity Capital (NASDAQ: TRIN), which includes growth financing of up to $50 million. The funding showcases viaPhoton's innovative technology aimed at disrupting fiber infrastructure. As demand for fiber connectivity rises rapidly, viaPhoton can deliver custom-engineered fiber products significantly faster than competitors, promising weeks instead of the typical six months to a year. This transaction positions viaPhoton for further growth in the evolving connectivity market.
Trinity Capital Inc. (Nasdaq: TRIN) will release its first quarter 2022 financial results after market close on May 9, 2022. A conference call will follow at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Interested parties can join the call by dialing (866) 831-8713 or (203) 518-9822 with Conference ID: TRINQ122. A taped replay will be available shortly after the call until May 16, 2022. The live webcast can also be accessed on Trinity's investor relations webpage.
This announcement highlights Trinity's role as a leading provider of debt and equipment financing to growth stage companies.
Trinity Capital Inc. (Nasdaq: TRIN) announced the appointment of Rob Lake as Managing Director for Life Sciences in San Diego. With over 18 years of experience, Lake has funded more than $1.6 billion in debt transactions. His previous roles include managing positions at Runway Growth Capital, Bridge Bank, and Oxford Finance. President and CIO Kyle Brown expressed enthusiasm about Lake's expertise contributing to Trinity's growth in the life sciences portfolio.
Trinity Capital Inc. (Nasdaq: TRIN) has priced an underwritten public offering of $50 million worth of common stock at $18.15 per share. The offering includes a 30-day option for underwriters to purchase an additional 413,226 shares. Proceeds will be used to reduce debt under its KeyBank Credit Facility and for general corporate purposes. The offering is expected to close on April 7, 2022.
On April 4, 2022, Trinity Capital Inc. (NASDAQ: TRIN) announced a public offering of $50 million in common stock. The company plans to use the proceeds to reduce existing debt under its KeyBank Credit Facility and for general corporate purposes. Underwriters have a 30-day option to purchase additional shares. The offering is subject to market conditions and will be conducted under an effective SEC registration. Investors are encouraged to review the preliminary prospectus for comprehensive investment details.
Trinity Capital Inc. (NASDAQ: TRIN) announced an adjustment to the conversion rate of its 6.00% Convertible Notes due 2025 following a regular cash dividend of $0.40 and a supplemental dividend of $0.15, payable on April 15, 2022. The conversion rate will change from 67.0278 shares to 67.5315 shares per $1,000 principal amount. The conversion price is revised to $14.81 from $14.92. This adjustment is due to exceeding the initial dividend threshold of $0.30, as stipulated in the indenture governing the Convertible Notes.
Trinity Capital Inc. (Nasdaq: TRIN) announced the promotions of Gerry Harder as Chief Operating Officer and Ron Kundich as Chief Credit Officer, effective March 15, 2022. Harder, a company veteran since 2016, will focus on operational initiatives and platform growth, previously serving as Chief Credit Officer. Kundich, with over 25 years of experience, takes over the credit processes. These appointments aim to enhance management and support Trinity's strategic objectives in specialty lending to growth stage companies backed by venture capital.
Trinity Capital (Nasdaq: TRIN) reported strong Q4 and full-year 2021 results, reflecting continued growth in investment income and net investment income. Q4 2021 total investment income rose to $23.6 million, up 53.9% year-over-year, while net investment income reached $10.6 million ($0.39 per share), a 100.1% increase. The firm's net asset value (NAV) per share increased to $16.40. Aggregate debt and equity investment commitments amounted to $247.9 million. A dividend of $0.36 per share was declared, marking a 9.1% increase from Q3 2021.
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