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Trinity Capital Inc. (NASDAQ: TRIN) has priced a public offering of $100.0 million in 7.875% notes due 2029. The notes will mature on September 30, 2029, and can be redeemed after September 30, 2026. Trinity has granted underwriters a 30-day option to purchase up to $15.0 million in additional notes. The offering is expected to close on July 19, 2024, with the notes to be listed on Nasdaq under the symbol 'TRINI'.
Trinity plans to use the net proceeds to pay down existing debt under its KeyBank Credit Facility and potentially redeem a portion of its outstanding 7.00% Notes due 2025. The offering is being managed by several financial institutions, including Keefe, Bruyette & Woods, Morgan Stanley, RBC Capital Markets, and UBS Investment Bank as joint book-running managers.
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