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 following a regular cash dividend of $0.40 and a supplemental dividend of $0.15, payable on April 15, 2022. The conversion rate will change from 67.0278 shares to 67.5315 shares per $1,000 principal amount. The conversion price is revised to $14.81 from $14.92. This adjustment is due to exceeding the initial dividend threshold of $0.30, as stipulated in the indenture governing the Convertible Notes.

Trinity Capital Inc. (Nasdaq: TRIN) announced the promotions of Gerry Harder as Chief Operating Officer and Ron Kundich as Chief Credit Officer, effective March 15, 2022. Harder, a company veteran since 2016, will focus on operational initiatives and platform growth, previously serving as Chief Credit Officer. Kundich, with over 25 years of experience, takes over the credit processes. These appointments aim to enhance management and support Trinity's strategic objectives in specialty lending to growth stage companies backed by venture capital.

Trinity Capital (Nasdaq: TRIN) reported strong Q4 and full-year 2021 results, reflecting continued growth in investment income and net investment income. Q4 2021 total investment income rose to $23.6 million, up 53.9% year-over-year, while net investment income reached $10.6 million ($0.39 per share), a 100.1% increase. The firm's net asset value (NAV) per share increased to $16.40. Aggregate debt and equity investment commitments amounted to $247.9 million. A dividend of $0.36 per share was declared, marking a 9.1% increase from Q3 2021.

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.