TRIN - Trinity Capital plans for $75M stock offering shares fall

2023-08-03 17:57:38 ET

• Trinity Capital ( NASDAQ: TRIN ) plans to raise $75 million through an underwritten public offering of shares of its common stock, the company said Thursday.
• The underwriters have a 30-day option to purchase additional shares of its common stock.
• All of the shares of common stock to be sold in the offering are to be sold by the company.
• The pricing terms and number of shares to be offered were not disclosed.
• The net proceeds will be used to pay down a portion of its existing indebtedness outstanding under its KeyBank Credit Facility, and for general corporate purposes, among other things.
• UBS Investment Bank, Morgan Stanley, Keefe, Bruyette & Woods, A Stifel Company, RBC Capital Markets, and Wells Fargo Securities are acting as joint-lead book-running managers for the offering.
• Press Release .
• Shares -6.4% at $14.31 after hours.

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