PHOENIX, Feb. 2, 2021 /PRNewswire/ -- Trinity Capital
Inc. (Nasdaq: TRIN) ("Trinity"), an internally managed
business development company, today announced that it closed its
initial public offering of 8,481,565 shares of its common stock, at
a price to the public of $14.00 per
share, on February 2, 2021, of which
8,006,291 shares were sold by Trinity and 475,274 shares were sold
by certain selling stockholders. The number of shares sold by
Trinity included the full exercise by the underwriters of their
option to purchase 1,106,291 additional shares of common stock from
Trinity. Trinity's shares of common stock began trading on the
Nasdaq Global Select Market on January 29,
2021 under the ticker symbol "TRIN."
Trinity received net proceeds from the offering of approximately
$105.4 million, after deducting
underwriting discounts and commissions, which it intends to use to
pay down a portion of its existing indebtedness outstanding under
its credit agreement, to make investments in accordance with its
investment objective and for general corporate purposes.
Keefe, Bruyette & Woods, A Stifel Company, Wells
Fargo Securities and UBS Investment Bank acted as joint
book-running managers for the offering. Janney Montgomery Scott, B. Riley Securities,
Ladenburg Thalmann and Compass Point acted as co-managers for the
offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities 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 any
such state or other jurisdiction.
About Trinity Capital Inc.
Trinity, 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, including the impact of the COVID-19 pandemic on the
economy, financial markets, our business, our portfolio companies
and our industry. 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. 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:http://www.prnewswire.com/news-releases/trinity-capital-inc-announces-closing-of-initial-public-offering-and-full-exercise-of-underwriters-option-to-purchase-additional-shares-301220786.html
SOURCE Trinity Capital Inc.