Trinity Capital Inc. Stock Price, News & Analysis

Trinity Capital Inc. (NASDAQ: TRIN) announced an adjustment to the conversion rate of its 6.00% Convertible Notes due 2025 due to a cash dividend of $0.61 per share. This includes a regular dividend of $0.46 and a supplemental dividend of $0.15, payable on January 13, 2023. The conversion rate will increase to 72.3849 shares per $1,000 principal amount of Convertible Notes, adjusting the conversion price to $13.82 per share. This adjustment arises from the dividend exceeding the initial threshold of $0.30 per share.

Trinity Capital (NASDAQ: TRIN) announced a $25 million financing facility for RxAnte Inc., a pharmacy care management company. Of this, $15 million has been drawn, with an option for an additional $10 million. RxAnte's innovative services are expected to enhance prescription drug use for over 30 million lives, targeting cost reduction and improved healthcare quality. The funding supports RxAnte's growth in value-based pharmacy services aimed at vulnerable Medicare beneficiaries, which have shown to lower hospitalizations and overall care costs.

Trinity Capital Inc. (Nasdaq: TRIN) has declared a cash dividend of $0.61 per share for Q4 2022, comprised of a regular dividend of $0.46 and a supplemental dividend of $0.15. This reflects a 2.2% increase from the previous quarter. The declaration date is December 15, 2022, with a record date of December 30, 2022 and a payment date of January 13, 2023. The supplemental dividend will be drawn from undistributed taxable income as of December 31, 2021.

Trinity Capital Inc. (NASDAQ: TRIN) announced on December 14, 2022, that it received exemptive relief from the SEC, allowing it to create and fully own a portfolio company as a registered investment adviser under the Investment Advisers Act of 1940. This exemption is expected to enhance Trinity's investment platform and expand its portfolio, providing new opportunities for growth and shareholder value. Kyle Brown, President and CIO, emphasized the significance of this milestone in pursuing accretive investment opportunities.

Trinity Capital Inc. (NASDAQ: TRIN) announced participation in the KBW BDC Midtown March on December 14, 2022, at 787 7th Avenue, New York, NY. The company provides diverse financial solutions to growth-stage businesses, focusing on generating income and capital appreciation through various investments. Interested parties can schedule one-on-one meetings with management via a KBW representative or by emailing ir@trincapinvestment.com. For more information, visit www.trinitycap.com.

Trinity Capital Inc. (NASDAQ: TRIN) has entered a joint venture (JV) agreement to co-manage i40, LLC, aimed at investing in loans and equipment financing for growth-stage companies. The JV has an initial capital commitment of $171.4 million, including $21.4 million from Trinity and $150 million from a specialist credit manager. This partnership is expected to enhance returns and expand Trinity's non-dilutive investment capacity, supporting the company's objective to generate income and capital appreciation.

Trinity Capital Inc. (Nasdaq: TRIN) has authorized a stock repurchase program worth $25 million aimed at acquiring its own common stock. The board believes that market pressures have undervalued its shares, presenting an opportunity to enhance shareholder value. While the program is set to run until November 11, 2023, repurchases will occur based on market conditions and are subject to regulatory guidelines. The decision underscores the company's confidence in its stability and future prospects amidst economic uncertainty.

Trinity Capital reported robust financial results for Q3 2022, with total investment income reaching $38.7 million, up 77.5% year-over-year. Net investment income surged to $18.6 million, or $0.56 per share, marking a 67.6% increase. However, net asset value per share declined to $13.74 from $14.62 in Q2. The company declared a dividend of $0.60 per share, including a regular dividend of $0.45 and a supplemental $0.15. Despite challenges, Trinity continues to grow its investment commitments, totaling $128.1 million.

Trinity Capital Inc. (Nasdaq: TRIN) will announce its third quarter 2022 financial results on November 3, 2022, post-market close. A conference call is scheduled for 2:00 PM PT (5:00 PM ET) to discuss the results. Investors can dial (800) 245-3047 in the U.S. or (203) 518-9765 internationally, referencing Conference ID: TRINQ322. A live webcast will also be available on the Company's investor relations website, with a replay accessible for 90 days. Trinity Capital specializes in financial solutions for growth-stage companies.