TRIN - Trinity Capital ends 2022 with record $975M in new commitments

• Trinity Capital ( NASDAQ: TRIN ) stock drove up 4.2% in after-hours trading Monday after the business development company finished 2022 with total new commitments of $975M, a new record.
• "We grew our originations modestly in 2022 despite a difficult broader market and increased the size of our portfolio throughout the year putting us in a position to continue strong future earnings and dividend coverage," said Trinity Capital President and Chief Investment Officer Kyle Brown.
• For the year ending Dec. 31, 2022, Trinity's ( TRIN ) total new commitments were comprised of secured loans, totaling $718.7M, equipment financing ($251.5M) and equity investments ($5.3M).
• The firm funded $381.8M to 36 new portfolio companies and $250.0M to 31 existing portfolio companies, it said.
• Proceeds received from repayments of TRIN's debt investments during the year totaled approximately $273.6M, which included $149.6M from early debt repayments. And net debt portfolio growth from investment activity was ~$342.7M.
• Previously, (Dec. 6, 2022) Trinity Capital announced a joint venture .

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