Business
Trinity Capital Inc. Reports Third Quarter 2021 Financial Results
PHOENIX, Nov. 4, 2021 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading specialty lending company that
About this update from Trinity Capital Inc.
[{"type":"text","content":"PHOENIX, Nov. 4, 2021 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) (\"Trinity Capital\" or the \"Company\"), a leading specialty lending company that provides debt, including loans and equipment financing, to growth stage companies backed by technology banks, venture capital and private equity firms, today announced its financial results for the quarter ended September 30, 2021. \n\n \n \n \n \n \n \n\n \nThird Quarter 2021 Highlights \nTotal investment income of $21.8 million, an increase of 61.1% year-over-year Net investment income (\"NII\") of $11.1 million, or $0.42 per share, an increase of 98.0% year-over-year Aggregate debt and equity investment commitments of $258.2 million Total gross investments funded of $151.2 million, comprised of $77.0 million across nine new portfolio companies and $74.2 million across 16 existing portfolio companies Debt principal repayments of $92.4 million Investment portfolio of $677.2 million at fair value, an increase of 13.3% from Q2 2021 Net asset value (\"NAV\") per share increased to $14.70 from $14.33 on June 30, 2021 Declared a dividend distribution of $0.33 per share for the third quarter, an increase of 13.8% from Q2 2021 Year-to-Date 2021 Highlights \nTotal investment income of $58.6 million, an increase of 47.9% year-over-year Net investment income of $28.5 million, or $1.11 per share, an increase of 57.3% year-over-year Total gross investments funded of $360.7 million, an increase of 162.3% year-over-yearSteven Brown, Chairman and Chief Executive Officer of Trinity Capital, commented, \"We are continuing to execute against our plan, and driving excellent portfolio growth while enhancing our overall financial profile. Our performance is attracting world-class talent committed to building Trinity for the long term. We are growing NII at a strong pace and have delivered our sixth consecutive quarter of net portfolio growth. This NII growth has allowed us to once again increase our dividend. As we close out 2021, we believe we are positioned to continue to capitalize on this momentum. Trinity will continue to drive prudent portfolio growth seeking to maximize returns for our shareholders.\"\nThird Quarter 2021 Operating Results\nFor the three months ended September 30, 2021, total investment income was $21.8 million compared to $13.5 million for the quarter ended September 30,...