Trinity Capital Inc. Stock Price, News & Analysis

Trinity Capital (NASDAQ: TRIN, TRINL) announced a $40 million financing facility to support Convergent Dental, the creator of the Solea^® dental laser. Of this amount, $20 million has already been drawn, with an option for Convergent to access an additional $20 million, contingent on agreement terms. The Solea^® laser technology is unique as it allows for anesthesia-free dental procedures, enhancing patient comfort and operational efficiency for dental practices. This funding aims to help Convergent accelerate its growth and expand the market adoption of its innovative product. Trinity Capital, known for its specialized financial solutions to growth-stage companies, reinforces its commitment to driving advancements in the life sciences sector.

Trinity Capital Inc. (Nasdaq: TRIN, TRINL) announced that it will host its first quarter 2023 conference call on May 4, 2023, at 3:00 p.m. PT (6:00 p.m. ET). Investors can listen by dialing (800) 343-4849 or (203) 518-9856 and referencing Conference ID: TRINQ123. A taped replay will be available approximately two hours after the call and will remain accessible until May 11, 2023. A live webcast will also be available on Trinity's investor relations website. Trinity Capital is a provider of diversified financial solutions to growth-stage companies, aiming to generate current income and capital appreciation through various investment methods.

Trinity Capital Inc. (Nasdaq: TRIN, TRINL) has announced the release of its first quarter 2023 financial results, scheduled for May 4, 2023, after market close. A conference call to discuss these results will occur at 2:00 p.m. PT (5:00 p.m. ET) on the same day. Investors can participate by dialing (800) 343-4849 or (203) 518-9856 and referencing Conference ID: TRINQ123. A live webcast will also be available on the company's investor relations website. Furthermore, a replay of the call will be accessible for 90 days post-event. Trinity Capital specializes in providing diversified financial solutions to growth-stage companies, combining term loans and equity-related investments to generate income and capital appreciation.

On March 31, 2023, Trinity Capital Inc. announced an adjustment to the conversion rate of its 6.00% Convertible Notes due 2025, following a cash dividend of $0.47 payable on April 14, 2023. The conversion rate increased to 73.3359 shares of common stock per $1,000 principal amount from 72.3849 shares. This change adjusts the conversion price to $13.64 per share from $13.82. This adjustment is in line with the terms set in the second supplemental indenture, triggered by the dividend exceeding the $0.30 threshold. Trinity aims to distribute 90% to 100% of its taxable income annually.

On March 14, 2023, Trinity Capital (Nasdaq: TRIN) announced a cash dividend of $0.47 per share for Q1 2023, marking a 2.2% increase from the previous quarter. The company has grown to provide over $2.4 billion in funding to growth-stage firms over 15 years. Trinity has approximately $60.4 million in undistributed earnings, or $1.73 per share, and aims to distribute around 90-100% of taxable income to maintain tax status as a regulated investment company. Key dates include the record date of March 31, 2023, and the payment date of April 14, 2023.

Trinity Capital reported strong financial performance for Q4 and FY 2022. Total investment income increased by 75.8% YoY to $41.5 million in Q4, and net investment income rose 103.8% YoY to $21.6 million, or $0.62 per share. The company declared a dividend of $0.61 per share, supported by a 135% coverage ratio from NII. Despite a decrease in net asset value (NAV) to $13.15, Trinity maintained a robust investment portfolio valued at $1.09 billion. The company achieved a record $975.5 million in new commitments throughout the year. However, unrealized depreciation of $13.6 million and net realized losses of $9.6 million were noted, primarily affecting two portfolio companies.