Trinity Capital Inc. (NASDAQ: TRIN), recognized in the business development sector, recently announced the pricing of a $100 million bond offering with an interest rate of 7.875%, scheduled to mature by March 30, 2029. These notes, earmarked for listing on the Nasdaq Global Select Market under the symbol “TRINZ,” are anticipated to mature by the close of March 2029, with an option for early redemption by the company starting March 30, 2026.

The completion of this offering, expected by Wednesday, hinges on standard closing prerequisites. In addition, Trinity has extended a 30-day option to underwriters for acquiring an additional $15 million in notes to accommodate any over-allotments.

The primary use of the net proceeds from this offering is earmarked for the reduction of current liabilities under the KeyBank Credit Facility. Subject to the remaining net proceeds, Trinity might also proceed with the redemption of its existing 7.00% Notes due in 2025.

The offering is being managed by Keefe, Bruyette & Woods, Morgan Stanley, and RBC Capital Markets as joint book-running managers, with Compass Point taking the lead management role.

Potential investors are encouraged to thoroughly examine the investment specifics, taking into account the goals, risks, fees, and expenses involved. The offering’s preliminary prospectus supplement, dated March 25, 2024, alongside the prospectus from February 7, 2024, submitted to the Securities and Exchange Commission (SEC), provides an in-depth overview of this financial initiative.

Operating within the specialty lending domain, Trinity Capital focuses on extending debt solutions to growth-stage enterprises, including those with venture backing and institutional investments. The company’s objective encompasses generating current income and, to a secondary extent, capital appreciation through its investment endeavors.

This announcement, based on a press release, is still subject to adjustments. The finalization of the offering depends on fulfilling legal and regulatory stipulations.

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