Business
Trinity Capital Inc. Provides $25 Million Growth Capital To RxAnte, Inc.
PHOENIX, Dec. 20, 2022 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN, TRINL), a leading provider of diversified financial solutions to growth-stage
About this update from Trinity Capital Inc.
[{"type":"text","content":"PHOENIX, Dec. 20, 2022 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN, TRINL), a leading provider of diversified financial solutions to growth-stage companies, today announced a $25 million facility to support the growth of RxAnte Inc., a leading pharmacy care management business. $15 million was drawn under the facility, and RxAnte has the option to draw an additional $10 million, subject to the conditions under the agreement.\n\n \n \n \n \n \n \n\n \nRxAnte improves prescription drug use for regional and national health plans covering over 30 million lives. The company uses patented analytic technology and targeted clinical services to lower costs, improve quality scores, and enhance member experience.\nThe team at RxAnte expects to use investment proceeds for scaling operations to support accelerating growth, particularly for the company's value-based pharmacy service aimed at medically complex and vulnerable Medicare beneficiaries. The service has proven to reduce hospitalizations and total cost of care and will continue to expand nationwide in 2023.\n\"We are proud to partner with the RxAnte team,\" said Rob Lake, Managing Director, Life Sciences of Trinity. \"Their innovative approach to value-based care in the pharmacy space is serving an unmet need, and we look forward to supporting their continued growth.\"\nCorbin Director, Chief Financial Officer of RxAnte, said, \"Trinity has been a great and collaborative financial partner that provided a tailored solution for RxAnte's growth capital needs.\"\n\"We are delighted to have Trinity as a financial partner,\" added Josh Benner, Chief Executive Officer of RxAnte. \"This capital enables us to continue our pioneering work with health plans to bring down the $528 billion annual cost of under-use, over-use, and misuse of prescription drugs.\"\nAbout Trinity Capital Inc.Trinity (Nasdaq: TRIN and TRINL), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans, equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the dep...