Trinity Capital Inc. Stock Price, News & Analysis

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.

Trinity Capital Inc. (Nasdaq: TRIN) announced the appointment of Richard Hamada and Irma Lockridge to its Board of Directors, effective December 7, 2021. They replace retiring board members Richard Ward and Edmund Zito. Hamada, former CEO of Avnet, brings significant experience in managing public companies, while Lockridge, currently Chief People and Systems Officer at CoorsTek, offers expertise in talent acquisition and strategic planning. Chairman Steven Brown expressed optimism that their expertise will enhance Trinity's growth as a public company.

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.