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 has provided a $25 million growth capital facility to Cepton Technologies, aiding in its merger with Growth Capital Acquisition Corp, now Cepton Inc. (Nasdaq: CPTN). The agreement allows Cepton to immediately draw $10 million and an additional $15 million by July 1, 2022. Cepton plans to use these funds to scale operations for its lidar-based technologies across various sectors. Trinity's Managing Director emphasized the strategic fit of Cepton’s innovations in the market.
Trinity Capital Inc. (Nasdaq: TRIN) will release its fourth quarter and full year 2021 financial results on March 3, 2022, after market close. A conference call to discuss the results will take place at 2:00 p.m. PT (5:00 p.m. ET) on the same day. Investors can access the call by dialing (800) 909-7113 and referencing Conference ID: TRINQ421. A taped replay will be available until March 10, 2022, and a live webcast will be accessible on the company's investor relations website. Trinity Capital is a specialty lending company focused on providing debt financing to growth-stage businesses.
Trinity Capital Inc. announced it will receive approximately $59.8 million in net proceeds from selling its equity investments in Lucid Group (LCID) and Matterport (MTTR). In January 2022, it sold 1,867,973 shares of Lucid and 571,941 shares of Matterport, acquiring these positions for about $9.0 million. The estimated net realized gain for the quarter ended March 31, 2022, is projected at $50.8 million, equating to roughly $1.86 per share. The board is reviewing the 2022 dividend distribution plan based on these outcomes.
Trinity Capital (Nasdaq: TRIN) announced record new commitments of $757 million for 2021, including $248 million in the fourth quarter alone. The company originated approximately $247.9 million in new commitments during Q4, funding $197.5 million across various portfolio companies. A $75 million unsecured bond offering and a $50 million ATM stock program were also established to strengthen capital for investments. Trinity's disciplined investment strategy aims to create long-term shareholder value and continues to enhance its team.
Trinity Capital Inc. (NASDAQ: TRIN) announced a conversion rate adjustment for its 6.00% Convertible Notes due 2025, stemming from a cash dividend of $0.36 per share payable on January 14, 2022. As of December 31, 2021, the conversion rate will increase to 67.0278 shares per $1,000 principal amount, altering the conversion price to $14.92 per share from $14.97. This adjustment follows the company exceeding the initial dividend threshold of $0.30. Trinity aims to distribute 90%-100% of its taxable income annually to qualify as a regulated investment company.
On December 16, 2021, Trinity Capital (Nasdaq: TRIN) declared a cash dividend of $0.36 per share for the fourth quarter ending December 31, 2021. This marks a 9% increase from the previous quarter's dividend. The dividend is part of Trinity's strategy to distribute 90% to 100% of its taxable income to qualify as a regulated investment company. Key dates include a record date of December 31, 2021, and a payment date of January 14, 2022. All distributions are reported for tax purposes via Form 1099-DIV.
Trinity Capital Inc. (Nasdaq: TRIN) announced the appointment of Richard Hamada and Irma Lockridge to its Board of Directors, effective December 7, 2021. They replace retiring board members Richard Ward and Edmund Zito. Hamada, former CEO of Avnet, brings significant experience in managing public companies, while Lockridge, currently Chief People and Systems Officer at CoorsTek, offers expertise in talent acquisition and strategic planning. Chairman Steven Brown expressed optimism that their expertise will enhance Trinity's growth as a public company.
Trinity Capital Inc. (Nasdaq: TRIN) has successfully closed a public offering of $75 million in 4.25% Notes due December 15, 2026. After deducting expenses, the net proceeds amount to approximately $73.2 million. These funds will primarily be used to reduce existing debt under a credit agreement with KeyBank and for general corporate purposes. The offering was managed by Keefe, Bruyette & Woods, Inc. Trinity focuses on providing debt to growth stage companies, aiming for current income and capital appreciation.
Trinity Capital reported strong financial results for Q3 2021, with total investment income of $21.8 million, up 61.1% year-over-year. Net investment income rose 98.0% to $11.1 million, or $0.42 per share. Gross investments funded reached $151.2 million, while net asset value per share increased to $14.70. A dividend of $0.33 per share was declared, reflecting a 13.8% increase. The investment portfolio now totals $677.2 million, with a focus on floating-rate loans. The company continues to show growth momentum, highlighted by a year-to-date NII increase of 57.3%.
Trinity Capital Inc. (Nasdaq: TRIN) announced the appointment of Phil Gager as Managing Director, Origination in Boston. With over 20 years in the venture ecosystem, Gager aims to enhance the company's origination efforts on the East Coast. Previously at Stifel Bank, he specialized in debt transactions for venture-backed growth-stage firms in technology and healthcare. Gager's extensive network and experience are expected to bolster Trinity's investments in pharmaceuticals, biotechnology, and healthcare sectors, complementing its reputation as a leading specialty lender.
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