Business
Trinity Capital Inc. Provides $40 Million Growth Capital to Convergent Dental, Inc.
PHOENIX, April 24, 2023 /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, April 24, 2023 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN, TRINL), a leading provider of diversified financial solutions to growth-stage companies, today announced a $40 million facility to support the growth of Convergent Dental, Inc., the power behind Solea®, the world's first computer-aided all-tissue CO2 dental laser. $20 million was drawn under the facility, and Convergent Dental has the option to draw an additional $20 million, subject to the conditions under the agreement.\n\n \n \n \n \n \n \n\n \nConvergent Dental's flagship product, Solea®, is a breakthrough technology that enables virtually every cavity prep to be performed anesthesia-free, delivering a dental experience that patients prefer. Solea also enables soft tissue procedures that are blood-free and suture-free with minimal post-op discomfort and remarkably rapid healing. The team at Convergent Dental expects to use investment proceeds for growth expansion.\n\"We are proud to partner with the Convergent Dental team,\" said Lauren Cosentino, Managing Director, Life Sciences of Trinity. \"Solea brings exciting innovation to dentistry, allowing doctors to provide pain-free, patient centric care and we look forward to supporting their continued growth.\"\n\"We are thrilled to secure this financing with Trinity Capital, which allows us to accelerate our vision of driving the broad-based adoption of Solea. Our novel laser platform enables dentists to elevate and expand their practices by delivering better clinical and business outcomes,\" said Robert L. Gershon, CEO of Convergent Dental. \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 depth of knowledge, experience and track record in lending to growth-stage companies. For more information, please visit the Company's website at www.trinitycap.com.\nAbout Convergent Dental, Inc.Convergent Dental, Inc. is a privately owne...