Trinity Capital Inc. Stock Price, News & Analysis

Trinity Capital Inc. (Nasdaq: TRIN) has successfully closed a public offering of $75 million in 4.25% Notes due December 15, 2026. After deducting expenses, the net proceeds amount to approximately $73.2 million. These funds will primarily be used to reduce existing debt under a credit agreement with KeyBank and for general corporate purposes. The offering was managed by Keefe, Bruyette & Woods, Inc. Trinity focuses on providing debt to growth stage companies, aiming for current income and capital appreciation.

Trinity Capital reported strong financial results for Q3 2021, with total investment income of $21.8 million, up 61.1% year-over-year. Net investment income rose 98.0% to $11.1 million, or $0.42 per share. Gross investments funded reached $151.2 million, while net asset value per share increased to $14.70. A dividend of $0.33 per share was declared, reflecting a 13.8% increase. The investment portfolio now totals $677.2 million, with a focus on floating-rate loans. The company continues to show growth momentum, highlighted by a year-to-date NII increase of 57.3%.

Trinity Capital Inc. (Nasdaq: TRIN) announced the appointment of Phil Gager as Managing Director, Origination in Boston. With over 20 years in the venture ecosystem, Gager aims to enhance the company's origination efforts on the East Coast. Previously at Stifel Bank, he specialized in debt transactions for venture-backed growth-stage firms in technology and healthcare. Gager's extensive network and experience are expected to bolster Trinity's investments in pharmaceuticals, biotechnology, and healthcare sectors, complementing its reputation as a leading specialty lender.

Trinity Capital Inc. (Nasdaq: TRIN) has secured a new $300 million credit facility led by KeyBank. The facility features a five-year term with a three-year revolving period and a two-year amortization period. Interest rates will range from one-month LIBOR plus 3.25% to 2.85%, depending on loan composition. This financing aims to enhance Trinity's capital structure, supporting portfolio growth. Recently, Trinity also completed a $125 million public offering of 4.375% notes due 2026, further strengthening its balance sheet and financial liquidity.

Trinity Capital Inc. (Nasdaq: TRIN) has announced it will release its third quarter 2021 financial results after market close on November 4, 2021. A conference call discussing these results will occur at 2:00 p.m. PT that same day. Investors can participate by dialing (877) 876-9173 or (785) 424-1667 internationally, referencing Conference ID: TRINQ321. A webcast will also be available on Trinity's investor relations website, with a replay accessible for 90 days post-call.

Trinity Capital Inc. (Nasdaq: TRIN) announced the appointment of Ryan Thompson as Managing Director, Origination in Austin, Texas. With over a decade in the venture ecosystem, Thompson previously served as Senior Vice President at Silicon Valley Bank, focusing on debt transactions for venture-backed growth stage companies. Trinity Capital aims to strengthen its presence in the Central and Mountain regions under Thompson's leadership. The company specializes in providing debt and equipment financing to growth-stage entities, leveraging its experience in the venture lending space.

Trinity Capital Inc. (Nasdaq: TRIN) announced on September 13, 2021, the declaration of a cash dividend of $0.33 per share for the quarter ending September 30, 2021, marking a 13.8% increase from the prior quarter. The payment date is set for October 15, 2021. The company aims to distribute approximately 90% to 100% of its taxable income to qualify for favorable tax treatment as a regulated investment company.

Horizon Technology Finance Corporation (NASDAQ: HRZN) and Trinity Capital Inc. (NASDAQ: TRIN) have provided a $40 million venture loan to Nexii Building Solutions Inc., a green construction technology firm. Horizon contributed $22.5 million and $7.5 million via a private vehicle, while Trinity added $10 million. The funding aims to support Nexii's growth and working capital needs, enhancing its sustainable building initiatives. The partnership is designed to foster innovation in construction, aligning with goals for a zero-carbon economy.

Trinity Capital Inc. (NASDAQ: TRIN) has successfully closed a public offering of $125 million in 4.375% Notes due 2026. The notes will mature on August 24, 2026, and are redeemable at Trinity's discretion. The company expects to net approximately $122 million from this offering, which will be used to reduce existing debt, fund investments, and for general corporate purposes. Goldman Sachs & Co. LLC and Keefe, Bruyette & Woods, Inc. managed the offering. This action aligns with Trinity's strategy of providing financing to growth-stage companies.