Trinity Capital Inc. Closes $142.5 Million Notes Offering

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Oct 30, 2024, 08:05 ET

PHOENIX, Oct. 30, 2024 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-oriented companies, today announced it has closed a private notes offering totaling $142.5 million in aggregate principal amount of unsecured Series A Notes (as defined below).

"We are pleased by this transaction being oversubscribed from the launch amount of $100 million," said Kyle Brown, Chief Executive Officer of Trinity Capital. "This additional capital positions us for continued growth, reinforcing our commitment to delivering value to our investors."

Trinity intends to use the net proceeds from this offering to support ongoing investment activities as it continues to grow its diversified lending platform.

The Series A Notes are comprised of three-, four- and five-year tenors. In the transaction, the Company issued $55.5 million in the aggregate principal amount of 7.54% Series A Senior Notes, Tranche A, due October 29, 2027 (the "Series A 2027 Notes"); $73.0 million in the aggregate principal amount of 7.60% Series A Senior Notes, Tranche B, due October 29, 2028 (the "Series A 2028 Notes"); and $14.0 million in aggregate principal amount of 7.66% Series A Senior Notes, Tranche C, due October 29, 2029 (the "Series A 2029 Notes" and, together with the Series A 2027 Notes and Series A 2028 Notes, collectively, the "Series A Notes").

MUFG acted as placement agent for the transaction.

About Trinity Capital Inc.

Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-oriented companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission ("SEC"). The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. More information on risks and other potential factors that could affect the Company's financial results, including important factors that could cause actual results to differ materially from plans, estimates or expectations included herein or on the webcast/conference call, is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed annual report on Form 10-K and subsequent SEC filings.

SOURCE Trinity Capital Inc.