TRIN - Trinity Capital to receive $59.8M in net proceeds from certain equity investments sale

Trinity Capital (NASDAQ:TRIN) announced that it will receive ~$59.8M in net proceeds from the sale of its equity investments in Lucid and Matterport. In January 2022, Trinity disposed of 1.87M shares in Lucid and 571,941 shares in Matterport, which represented a combined investment at a cost of ~$9M. For the quarter ended Mar.31, 2022, the company expects to recognize net realized gain of ~$50.8M led by the aforementioned sales. "Given these proceeds, as well as our earnings expectations for 2022, our board is evaluating our dividend distribution plan for 2022 and beyond to ensure our investment returns are properly distributed to our shareholders and support our long-term growth strategy. We will offer an update on that front in the coming months," Chairman & CEO Steven Brown commented.

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Trinity Capital to receive $59.8M in net proceeds from certain equity investments sale