Trinity Capital Inc. Stock Price, News & Analysis

Trinity Capital Inc. (Nasdaq: TRIN) has declared a cash dividend of $0.51 per share for the third quarter of 2024. This marks the 19th consecutive quarter of a consistent or increased dividend. The dividend will be paid on October 15, 2024, to shareholders of record as of September 30, 2024.

Trinity Capital aims to distribute 90% to 100% of its taxable quarterly income through four quarterly dividends to qualify as a regulated investment company. The company may also pay additional supplemental dividends or carry over excess taxable income for future dividend payments. Dividends are paid from taxable earnings and may include a return of capital and/or capital gains.

Trinity Capital Inc. (NASDAQ: TRIN) has committed $30 million in growth capital to Slingshot Aerospace, a leader in AI-powered solutions for satellite tracking, space traffic coordination, and space modeling. Slingshot's platform provides a unified view of space for government and commercial operators, enhancing space situational awareness and operational efficiency.

The debt facility will enable Slingshot to scale operations and fund key growth initiatives. Ryan Thompson, Managing Director of Tech Lending at Trinity, emphasized the increasing importance of platforms like Slingshot as space becomes more crowded. Tim Solms, CEO of Slingshot Aerospace, stated that Trinity is an ideal partner for their rapidly scaling business.

Trinity Capital Inc. (NASDAQ: TRIN) has committed $20 million in growth capital to Kymeta, a leading flat-panel satellite antenna company based in Redmond, WA. Kymeta specializes in multi-network satellite communications, developing groundbreaking antennas that integrate with multiple satellite networks for unparalleled connectivity and reliability. The company's technology is based on metamaterial science, ensuring robust communications in challenging environments.

Bob D'Acquisto, Managing Director of Tech Lending at Trinity, expressed enthusiasm for supporting Kymeta's innovative technology in satellite communications. The new debt facility will enable Kymeta to scale operations and fund growth initiatives. Rick Bergman, President and CEO of Kymeta, welcomed Trinity's partnership as they aim to position themselves as the global leader in satellite communications on the move.

Trinity Capital Inc. (NASDAQ: TRIN) has committed $50 million in growth capital to LightForce, a company specializing in the world's first fully personalized 3D printed braces system. LightForce utilizes AI technology to generate accurate digital representations of patient anatomy and optimal teeth positions, improving treatment efficiency and aesthetics in orthodontics.

Ryan Kaeding, Managing Director of Life Sciences at Trinity, expressed excitement about partnering with LightForce and supporting their mission to empower orthodontists in creating unique bites and smiles for patients. Alfred Griffin III, CEO and co-founder of LightForce, stated that the financing from Trinity will help drive growth in their business and bring personalized braces solutions to orthodontists and patients.

Parafin, a leader in embedded finance, has secured a $93 million debt facility from Jefferies and Trinity Capital Inc., potentially expandable to $187 million. This follows a $125 million funding earlier this year from Silicon Valley Bank and Trinity Capital Inc. Parafin partners with major platforms like Amazon, Walmart, DoorDash, and Worldpay to offer financing to small businesses.

The company uses machine learning and over a billion data inputs to develop a robust underwriting model. This new funding reinforces Parafin's mission to solve small business financial services at scale by integrating their products into platforms that small businesses use for operations.

Trinity Capital Inc. (NASDAQ: TRIN) has committed $35 million in equipment financing to ApiJect Systems, Corp, a medical technology company focused on prefilled, single-dose injection devices. ApiJect, based in Stamford, CT, designs rapidly scalable, cost-efficient drug delivery systems for pharmaceutical companies. The financing will enable ApiJect to maximize the value of their hard assets, scale operations, and fund growth initiatives.

ApiJect aims to make injectable medicines and vaccines safer and more accessible worldwide. The company plans to expand its manufacturing capacity in the U.S., file for regulatory approval for its initial device in the coming months, and partner with more pharmaceutical companies interested in using their injection technology.

Trinity Capital Inc. (TRIN) reported strong Q2 2024 financial results, with record total investment income of $54.6 million, up 18.7% year-over-year. The company achieved record net investment income (NII) of $26.7 million, or $0.53 per basic share. Platform Assets Under Management grew to $1.7 billion, a 36% increase year-over-year. Trinity's Return on Average Equity (ROAE) reached 16.3%, while Net Asset Value increased to $680.0 million, or $13.12 per share. The company made total gross investment commitments of $289.3 million and funded $230.6 million in investments. Trinity maintained its 18th consecutive quarter of consistent or increased regular dividend, with a Q2 distribution of $0.51 per share.

Trinity Capital Inc. (Nasdaq: TRIN) has expanded its credit facility led by KeyBank N.A. from $350 million to $440 million, with an accordion feature allowing potential growth to $690 million. The amendment extends the maturity date to July 27, 2029, and increases the lender group to 11 banks. The facility now offers variable advance rates of up to 62% on eligible first-lien loans and 42% on second-lien loans.

CEO Kyle Brown highlighted that this expansion will support business growth and capitalize on market opportunities. CFO Michael Testa noted that the expanded facility, combined with recent 7.875% investment grade notes totaling $115.0 million and access to capital through their ATM program, enhances Trinity's liquidity position and strengthens their balance sheet for portfolio growth.

Trinity Capital Inc. (NASDAQ: TRIN) has launched a new strategic partnership with Eagle Point Credit Management The partnership involves a new vehicle with a $60 million equity commitment and leverage capabilities, intended to be converted into a private business development company (BDC). Trinity's wholly owned registered investment adviser will advise the vehicle, providing an additional source of capital for lending and generating non-capital intensive fee income.

The vehicle is expected to invest in opportunities originated by Trinity's platform, which spans five verticals: tech lending, equipment finance, life sciences, warehouse lending, and sponsor finance. This partnership follows Trinity's record-breaking funding numbers in the first half of 2024 and aims to fuel further deployment growth.