PHOENIX, March 25,
2024 /PRNewswire/ -- Trinity Capital Inc. ("Trinity")
(NASDAQ: TRIN), an internally managed business development company,
today announced that it has priced an underwritten public offering
of $100.0 million in aggregate
principal amount of 7.875% notes due 2029 (the "Notes"). The Notes
will mature on March 30, 2029, and
may be redeemed in whole or in part at any time or from time to
time at the Company's option on or after March 30, 2026. In connection with the
offering, Trinity has granted the underwriters a 30-day option to
purchase additional Notes in an amount up to $15.0 million to cover overallotments, if any.
The Notes are being issued at 100% of the principal amount per
Note.
The offering is subject to customary closing conditions and is
expected to close on March 28, 2024.
Trinity intends to list the Notes on the Nasdaq Global Select
Market within 30 days of the issue date of the Notes under the
symbol "TRINZ."
Trinity intends to use the net proceeds from this offering to
pay down a portion of its existing indebtedness outstanding under
its KeyBank Credit Facility and, depending on the remaining amount
of net proceeds after such use, to redeem a portion of its
outstanding 7.00% Notes due 2025.
Keefe, Bruyette & Woods, A Stifel Company, Morgan
Stanley and RBC Capital Markets are acting as the joint
book-running managers for this offering. Compass Point is acting as
lead manager for this offering.
Investors are advised to carefully consider the investment
objectives, risks and charges and expenses of Trinity before
investing. The preliminary prospectus supplement dated March 25, 2024 and the accompanying prospectus
dated February 7, 2024, each of which
has been filed with the Securities and Exchange Commission ("SEC"),
contain a description of these matters and other important
information about Trinity and should be read carefully before
investing.
The issuer has filed a shelf registration statement
(including a base prospectus) with the SEC for the offering to
which this communication relates. Before you invest, you should
read the base prospectus in that registration statement, the
preliminary prospectus supplement and the documents incorporated by
reference therein, which the issuer has filed with the SEC, for
more complete information about the issuer and this offering. You
may obtain these documents for free by visiting EDGAR on the SEC
Web site at www.sec.gov. Alternatively, the issuer, any underwriter
or any dealer participating in the offering will arrange to send
you the preliminary prospectus supplement if you request it from
Keefe, Bruyette & Woods, Inc., 787 7th Avenue, 4th Floor,
New York, NY 10019, Attn: Equity
Syndicate, by telephone at 1-800-966-1559; Morgan Stanley & Co.
LLC, 1585 Broadway, New York, NY
10036, toll free at 1-866-718-1649; or RBC Capital Markets, LLC,
Brookfield Place, 200 Vesey Street,
8th Floor, New York, New York,
10281 by telephone at 1-866-375-6829.
The information in this preliminary prospectus supplement, the
accompanying prospectus and this press release is not complete and
may be changed. The preliminary prospectus supplement, the
accompanying prospectus and this press release do not constitute an
offer to sell or the solicitation of offers to buy, nor will there
be any sale of the Notes referred to in this press release, in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of such state or jurisdiction.
About Trinity Capital Inc.
Trinity (NASDAQ: TRIN), an internally managed specialty
lending company that has elected to be regulated as a business
development company under the Investment Company Act of 1940, as
amended, is a leading provider of debt, including loans and
equipment financing, to growth stage companies, including
venture-backed companies and companies with institutional equity
investors. Trinity's investment objective is to generate current
income and, to a lesser extent, capital appreciation through
investments consisting primarily of term loans and equipment
financings and, to a lesser extent, working capital loans, equity
and equity-related investments. Trinity 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.
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 SEC. Trinity 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/trinity-capital-inc-prices-offering-of-100-0-million-of-7-875-notes-due-2029--302098708.html
SOURCE Trinity Capital Inc.