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Trinity Capital Inc. - TRIN STOCK NEWS

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.

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Trinity Capital announced an adjustment to the conversion rate of its 6.00% Convertible Notes due 2025, following a cash dividend of $0.51 per share, payable on July 15, 2024. The conversion rate is now set at 79.2226 shares per $1,000 principal amount, up from 78.0543 shares. The conversion price has been adjusted to $12.62 from $12.81 per share of common stock. This adjustment follows the second supplemental indenture, affected by the Company's quarterly cash dividend exceeding the $0.30 per share threshold. The announcement ensures the company maintains its tax treatment as a regulated investment company, distributing 90% to 100% of its taxable income annually.

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Trinity Capital Inc. (NASDAQ: TRIN) has announced a $40 million debt facility to Gravie, a rapidly growing provider of health benefits. Gravie offers the Comfort® health plan for small and mid-size employers, featuring comprehensive coverage with no deductibles or copays for common healthcare services, including virtual care. This partnership aims to support Gravie's national expansion and simplify healthcare with innovative, interest-free payment options. Ryan Thompson, Managing Director of Tech Lending at Trinity, expressed enthusiasm about aiding Gravie's growth and providing quality, affordable health coverage to businesses.

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Trinity Capital (Nasdaq: TRIN) announced a cash dividend of $0.51 per share for Q2 2024. This marks the 18th consecutive quarter of consistent or increased dividends since its IPO in January 2021. The dividend will be paid on July 15, 2024, to shareholders on record as of June 28, 2024. The company aims to distribute 90%-100% of its taxable income annually to qualify as a regulated investment company under the IRS code. Dividends are paid from taxable earnings and may include returns of capital or capital gains. Specific tax details will be provided via Form 1099-DIV and SEC filings.

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Trinity Capital (Nasdaq: TRIN) announced the completion of its liquidation of Core Scientific (CORZ) shares. These shares were received to satisfy a $28.3 million claim from Core's Chapter 11 bankruptcy, following a $30 million equipment financing provided in 2021. The liquidation of 5,640,373 shares at an average price of $5.13 per share generated $29 million in total proceeds. Including loan interest payments, Trinity achieved an internal rate of return of 17.7% on its initial investment.

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Trinity Capital (NASDAQ: TRIN) has committed $15 million in growth capital to restor3d, a company specializing in 3D-printed, patient-specific medical devices. This investment aims to support restor3d's innovation in orthopedic implants and facilitate its expansion into new markets. restor3d utilizes advanced 3D printing, AI-based planning, and digital health solutions to optimize patient outcomes. Trinity's Managing Director, Life Sciences, Lauren Cosentino, emphasized the company's leading role in customized orthopedic implants. restor3d's CEO, Kurt Jacobus, highlighted the partnership's potential to scale the business and enhance surgical outcomes.

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Silicon Valley Bank (SVB), a division of First Citizens Bank, and Trinity Capital announced a $63 million warehouse facility for Denim, a fintech company supporting freight brokers. SVB's national fintech practice and Trinity Capital aim to enhance Denim's cash flow and operational capabilities, especially in a volatile market. The facility will help Denim's innovative payment platform simplify freight brokers' back-office operations, enabling them to focus on business growth. Leaders from both SVB and Trinity praised Denim's software suite for advancing the digitization of the freight and logistics market, expressing excitement about this partnership.

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Trinity Capital (NASDAQ: TRIN) has announced its strategic expansion into Europe, appointing Craig Fox as Managing Director to lead the venture. This move aligns with Trinity's vision of supporting high-growth companies globally and aims to capitalize on the increasing venture capital activity in Europe. Fox, who joins from HSBC Innovation Banking, brings extensive experience in providing financing to venture capital-backed companies in the tech and life sciences sectors. Trinity expects this initiative to enhance shareholder value by tapping into Europe's vibrant tech landscape and providing tailored financial solutions to innovative companies.

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Metabolon has secured a $60 million credit facility to enhance its growth and innovation in the metabolomics sector. An initial $42.5 million was funded at closing, aimed at expanding R&D, global market penetration, and strategic partnerships. Led by Trinity Capital, this financing enabled the early retirement of a $35 million debt facility and follows a $25 million equity financing closed in January 2023. CEO Rohan Hastie highlighted the strong investor confidence and the company's role in advancing precision medicine. CFO Gerry Haines emphasized the importance of this non-dilutive capital in a challenging market, while Trinity's Rob Lake praised Metabolon's innovation and potential in the life sciences sector.

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Trinity Capital (NASDAQ: TRIN) has committed $60 million in growth capital to Metabolon, a leader in metabolomics solutions for life sciences. This funding will enhance Metabolon's R&D and global expansion efforts. Metabolon's solutions support various sectors, including biopharma, population health, and consumer products. This investment underscores investor confidence in Metabolon's potential within the multiomics and metabolomics industry. According to CEO Rohan Hastie, this capital will drive innovation, growth, and the company's leadership in precision medicine.

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Trinity Capital (NASDAQ: TRIN) has announced a $25 million growth capital investment in Elevate K-12, a Chicago-based company offering live teaching solutions to K-12 classrooms across the United States. Elevate, recognized by esteemed publications like Time and Forbes, addresses the issue of teacher shortages by providing state-certified educators for synchronous online teaching. The investment aims to enhance Elevate's working capital, scale operations, and support growth initiatives, ultimately broadening their educational reach.

Trinity's Managing Director, Kevin Zeidan, expressed enthusiasm about the partnership, highlighting its importance in delivering high-quality education to underserved schools. Elevate's CEO, Shaily Baranwal, emphasized that the funding will accelerate their mission to provide every child with exceptional education, meeting the needs of schools, districts, and teachers.

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FAQ

What does Trinity Capital Inc. specialize in?

Trinity Capital Inc. specializes in providing diversified financial solutions, including debt and equipment financing, to growth-stage companies, particularly those backed by venture capital and institutional equity investors.

What recent financial milestones has Trinity achieved?

Recently, Trinity issued $100 million in 7.875% notes due 2029 and adjusted the conversion rate of its 6.00% Convertible Notes due 2025, underscoring its strong financial health and investor confidence.

What industries does Trinity's portfolio cover?

Trinity's portfolio covers a wide range of industries, including software, semiconductors, healthcare, pharmaceuticals, clean technology, and more.

How has Trinity expanded its global reach?

Trinity has expanded into Europe by appointing Craig Fox as Managing Director to lead its European operations, capitalizing on the growing venture capital activity in the region.

What are some of Trinity's notable partnerships?

One notable partnership is the $125 million warehouse facility provided in collaboration with Silicon Valley Bank to fintech infrastructure startup Parafin, enabling Parafin to offer capital to businesses on platforms like DoorDash and Amazon.

How did Trinity perform in the first quarter of 2024?

In the first quarter of 2024, Trinity achieved a total investment income of $50.5 million, reflecting strong operational performance and effective portfolio management.

What is Trinity's investment strategy?

Trinity aims to generate current income and, to a lesser extent, capital appreciation through investments in term loans, equipment financings, and equity-related investments.

How does Trinity support its portfolio companies?

Trinity supports its portfolio companies by offering flexible and competitive venture debt financing solutions tailored to their distinctive needs, helping them strengthen their financial position while preserving equity.

What is Trinity's approach to risk management?

Trinity employs a rigorous approach to underwriting and portfolio management, regularly evaluating and adjusting its risk ratings to reflect the liquidity and performance of its portfolio companies.

Where can I find more information about Trinity Capital Inc.?

For more information, please visit Trinity Capital Inc.'s website at www.trinitycap.com.

Trinity Capital Inc.

Nasdaq:TRIN

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