PHOENIX – Trinity Capital Inc . (NASDAQ: NASDAQ:), a business development company, has priced a public offering of $100 million 7.875% notes due on March 30, 2029. The notes, which will be listed on the Global Select Market under the ticker “TRINZ,” are set to mature at the end of March 2029 and may be redeemed at the company’s discretion on or after March 30, 2026.
The offering, expected to close on Wednesday, is contingent upon customary closing conditions. Trinity has also provided underwriters a 30-day option to purchase up to an additional $15 million in notes to cover any overallotments.
Trinity aims to use the net proceeds from this offering to reduce its existing debt under the KeyBank Credit Facility. Depending on the remaining net proceeds, the company may also redeem a portion of its outstanding 7.00% Notes due in 2025.
Keefe, Bruyette & Woods, Morgan Stanley (NYSE:), and RBC Capital Markets are serving as joint book-running managers for the offering, with Compass Point acting as the lead manager.
Investors are advised to review the investment details carefully, considering the objectives, risks, charges, and expenses involved. The preliminary prospectus supplement, dated March 25, 2024, along with the accompanying prospectus dated February 7, 2024, filed with the Securities and Exchange Commission (SEC), provides a detailed description of the offering.
Trinity, which operates as a specialty lending company providing debt to growth-stage companies, including venture-backed and institutionally-invested entities, aims to generate current income and, to a lesser extent, capital appreciation through its investments.
The information presented is based on a press release statement and is subject to change. The offering is not yet finalized and may not occur if it does not meet legal and regulatory requirements.
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