TRIN - Trinity Capital Inc. Exits Its Equity Position in Core Scientific

PR Newswire

Liquidation of shares results in a return of 17.7% on the initial investment

PHOENIX , June 5, 2024 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, announced today that as of June 4, 2024 , it has completed the liquidation of the shares of common stock of Core Scientific (CORZ) ("Core") that it received in satisfaction of its claim in Core's Chapter 11 bankruptcy.

Trinity provided $30 million in equipment financing to Core in 2021. Core entered Chapter 11 bankruptcy in December 2022 and exited bankruptcy in January 2024 . Trinity was granted a $28.3 million claim in the bankruptcy, and elected to receive shares of Core's common stock in satisfaction of that claim. The 5,640,373 shares received were sold at a weighted average price per share of $5.13 , resulting in total proceeds of $29.0 million . After the sale of the common stock, the internal rate of return on the initial investment was 17.7%, including loan interest payments received.

About Trinity Capital Inc.

Trinity (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans, equipment financings 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. For more information, please visit the Company's website at www.trinitycap.com .

SOURCE Trinity Capital Inc.