Trinity Capital priced an underwritten public offering of $100 million in aggregate principal amount of 7.875% notes due in 2029. 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 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. 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% notes due 2025.
Keefe, Bruyette & Woods; 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.
