Trinity Capital Inc. Stock Price, News & Analysis

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.

Trinity Capital Inc. (NASDAQ: TRIN) has appointed Joshua Ruben as Managing Director of Life Sciences. Ruben brings over a decade of investment banking experience, having completed transactions worth over $50 billion in M&A and capital raises. Previously, he was Head of Life Science Tools and Diagnostics coverage at RBC Capital Markets and helped establish the Corporate Finance Advisory Group at Wells Fargo.

Rob Lake, Senior Managing Director of Life Sciences at Trinity, expressed confidence that Ruben's experience and industry connections will be valuable as the company grows its portfolio and invests in innovative companies. Ruben, based in Phoenix, AZ, is a published expert in corporate finance and a former teaching fellow of economics at Harvard College. He holds degrees from Pomona College and Harvard Business School.

Trinity Capital Inc. (Nasdaq: TRIN), a provider of financial solutions to growth-stage companies, has announced the release date for its second quarter 2024 financial results. The results will be released before market open on Wednesday, August 7, 2024, followed by a conference call at 9:00 a.m. PT (12:00 p.m. ET) to discuss the results.

Investors can access the call by dialing (800) 245-3047 or (203) 518-9765 internationally, using the Conference ID: TRINQ224. A taped replay will be available until August 14, 2024, accessible by dialing (800) 723-0549 or (402) 220-2657. Additionally, a live webcast of the call will be available on the company's investor relations website, with a replay accessible for 90 days following the conference call.