PHOENIX–(BUSINESS WIRE)–March 19, 2020–
Trinity Capital Inc. (“Trinity” or the “Company”), a number one specialty lending firm that gives debt and tools lease financing to development stage firms backed by know-how banks, enterprise capital and personal fairness corporations, immediately introduced that on March 16, 2020 the Company’s registration assertion on Form 10 grew to become robotically efficient with the U.S. Securities and Exchange Commission (“SEC”) . As a end result, Trinity is a public reporting firm and topic to relevant reporting necessities of the Securities Exchange Act of 1934, as amended.
“In light of the unprecedented times in which we are now living, we understand the concern and uncertainty that our investors may be experiencing related to the impact of COVID-19. The impact of COVID-19 has created significant volatility and fear here in the US and abroad. The team at Trinity is executing contingency plans to deal with the disruption caused by this event. Trinity is working daily and totally focused on credit quality as well as short and long-term cash and investment planning in order to achieve success given multiple potential outcomes.” mentioned Steve Brown, Chairman and CEO of Trinity.
The following are particular motion steps in progress:
From a well being and security perspective, we’ve applied company insurance policies according to pointers from the CDC and native authorities for our numerous workplace areas. We have indefinitely postponed non-essential journey and applied a coverage of working remotely to scale back social contact. We acknowledge that the outbreak of this illness is regularly evolving and can alter our continuity plans to keep up an efficient and environment friendly operational setting.
Proactively Monitoring our Portfolio and New Investments
We have been actively engaged in assessing all of our portfolio firms and the impression that each COVID-19 and a possible financial downturn might have on their respective companies. As this can be a very fluid scenario, the complete impression on our portfolio will solely be decided because the monetary market uncertainties work their approach by way of and the ensuing financial impression is set. Our major focus proper now could be portfolio credit score power and high quality. This will proceed to dominate our efforts as we make our approach by way of this unprecedented time.
“Trinity will continue to selectively look at new opportunities with the same stringent underwriting criteria we’ve always applied, adding a new layer of scrutiny tied to the impact of COVID-19 and the negative economic impacts currently playing out. Growth in our portfolio right now is secondary to maintaining both current credit quality and company-wide liquidity through this crisis. That said, consistent with our investment objective, we will continue to provide loans and equipment lease financings to growth stage companies who are in need of a non-dilutive extension of runway. We seek to compliment the equity these companies have raised to provide the necessary capital to achieve defined milestones and build their valuations heading towards a fundraise or liquidity event. We are active and looking for new opportunities.” mentioned Kyle Brown, President of Trinity.
We perceive that in these occasions liquidity is essential to monetary success. To that finish we imagine we’ve positioned Trinity to have each money on-hand in addition to capital assets by way of our credit score facility for operations, help of our portfolio firms and continued strategic investing.
“We will continue to work through and monitor the unfolding situation and share important updates as they occur. If you have questions or concerns, please do not hesitate to contact me or any member of our executive team.” concluded Steve Brown.
About Trinity Capital Inc.
Trinity, an internally managed specialty lending firm that has elected to be regulated as a BDC below the Investment Company Act of 1940, is a number one supplier of debt and tools lease financing to development stage firms, together with venture-backed firms and corporations with institutional fairness traders. Trinity’s funding goal is to generate present earnings and, to a lesser extent, capital appreciation by way of investments consisting primarily of time period debt and tools lease financings and, to a lesser extent, working capital loans, fairness and equity-related investments. Trinity believes it’s one among solely a choose group of specialty lenders that has the depth of data, expertise, and monitor report in lending to development stage firms. For extra data, please go to https://trincapinvestment.com/.
Certain data contained herein might represent “forward-looking statements” that contain substantial dangers and uncertainties. Such statements contain identified and unknown dangers, uncertainties and different components and undue reliance shouldn’t be positioned thereon. These forward-looking statements will not be historic details, however fairly are primarily based on present expectations, estimates and projections about Trinity, its present and potential portfolio investments, its trade, its beliefs and opinions, and its assumptions. Words corresponding to “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of those phrases and comparable expressions are meant to determine forward-looking statements. These statements will not be ensures of future efficiency and are topic to dangers, uncertainties and different components, a few of that are past Trinity’s management and tough to foretell and will trigger precise outcomes to vary materially from these expressed or forecasted within the forward-looking statements together with, with out limitation, the dangers, uncertainties and different components recognized in Trinity’s filings with the Securities and Exchange Commission. Investors shouldn’t place undue reliance on these forward-looking statements, which apply solely as of the date on which Trinity makes them. Trinity doesn’t undertake any obligation to replace or revise any forward-looking statements or another data contained herein, besides as required by relevant legislation.
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Vibhor Garg, Director, Marketing