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TRINITY CAPITAL INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

11/09/2021 | 05:30pm EST

Item 1.01. Entry into a Material Definitive Agreement.

On November 9, 2021, Trinity Capital Inc. (the "Company") entered into an open market sale agreement (the "Sales Agreement") with Jefferies LLC, as sales agent and/or principal thereunder (the "Sales Agent"). Under the Sales Agreement, the Company may, but has no obligation to, issue and sell, from time to time, up to $50,000,000 in aggregate offering price of shares (the "Shares") of its common stock, par value $0.001 per share, through the Sales Agent, or to it, as principal for its own account. The Company intends to use substantially all of the net proceeds from this "at-the-market" offering to make investments in accordance with its investment objective and investment strategy and for general corporate purposes.

Sales of the Shares, if any, will be made under the prospectus supplement, dated November 9, 2021 (the "Prospectus Supplement"), as may be supplemented from time to time, and the accompanying prospectus, dated August 12, 2021 (together with the Prospectus Supplement, including any documents incorporated or deemed to be incorporated by reference therein, the "Prospectus") by any method permitted by law and deemed to be part of an "at-the-market" offering as defined in Rule 415 under the Securities Act of 1933, as amended, including, without limitation, sales made directly on or through the Nasdaq Global Select Market, or similar securities exchange, or sales made to or through a market maker other than on an exchange, at market prices prevailing at the time of sale, at prices related to prevailing market prices or at other negotiated prices.

Under the terms of the Sales Agreement, the Sales Agent will receive a commission from the Company equal to 2.00% of the gross sales price of any Shares sold through the Sales Agent under the Sales Agreement and reimbursement of certain expenses. The Sales Agreement contains customary representations, warranties and agreements of the Company, indemnification rights and obligations of the parties, and termination provisions.

Further details regarding the Sales Agreement and the "at-the-market" offering are set forth in the Prospectus filed by the Company with the Securities and Exchange Commission on November 9, 2021.

The Shares, if any, will be offered, issued and sold pursuant to the Company's shelf registration statement on Form N-2 (File No. 333-257818), the prospectus, dated August 12, 2021, contained therein, and the Prospectus Supplement.

The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of the Sales Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

This Current Report on Form 8-K shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.   Description

5.1             Opinion of Eversheds Sutherland (US) LLP.
10.1            Open Market Sale Agreement, dated November 9, 2021, by and between
              Trinity Capital Inc. and Jefferies LLC.
23.1            Consent of Eversheds Sutherland (US) LLP (contained in Exhibit 5.1


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Analyst Recommendations on TRINITY CAPITAL INC.
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Financials (USD)
Sales 2021 80,8 M - -
Net income 2021 87,9 M - -
Net Debt 2021 - - -
P/E ratio 2021 5,26x
Yield 2021 6,83%
Capitalization 482 M 482 M -
Capi. / Sales 2021 5,97x
Capi. / Sales 2022 4,79x
Nbr of Employees 39
Free-Float -
Duration : Period :
Trinity Capital Inc. Technical Analysis Chart | TRIN | US8964423086 | MarketScreener
Income Statement Evolution
Mean consensus BUY
Number of Analysts 7
Last Close Price 17,71 $
Average target price 18,89 $
Spread / Average Target 6,68%
EPS Revisions
Managers and Directors
Steven L. Brown Chairman & Chief Executive Officer
Kyle Brown President, Director & Chief Investment Officer
David Michael Lund Chief Financial Officer & Treasurer
Sarah Stanton Secretary & Chief Compliance Officer
Ronald E. Estes Independent Director
Sector and Competitors