TRIN - Trinity Capital stock slides on $50M stock offering

Trinity Capital (NASDAQ:TRIN) shares fell 4.27% Monday evening after the business development firm announced an underwritten public offering of $50M shares of its common stock. Terms of the offering are yet to be disclosed. Underwriters may be granted a 30-day option to purchase additional shares of common stock. Net proceeds from the offering will be used to pay down a portion of existing indebtedness outstanding under the company's KeyBank Credit Facility, to make investments in accordance with its investment objective and investment strategy, and for general corporate purposes.

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Trinity Capital stock slides on $50M stock offering