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Get filing alertsTrinity Capital establishes up to $300M at-the-market stock offering program with four banks
Filed May 7, 2026 · Period ending May 7, 2026 · ~1 min read
Key Changes
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Trinity can now sell up to $300 million of common stock over time through four investment banks, representing potential dilution for existing shareholders. The company has no obligation to sell shares and will use proceeds primarily for new investments.
Item 1.01 verify on EDGAR → -
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Shares will be sold at prevailing market prices directly on Nasdaq or through market makers, giving Trinity flexibility to raise capital opportunistically when market conditions are favorable rather than through a traditional underwritten offering.
Item 1.01 verify on EDGAR → -
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Sales agents Jefferies, B. Riley Securities, Keefe Bruyette & Woods, and Compass Point will receive commissions up to 2% of gross sales proceeds plus expense reimbursement, a standard fee structure for ATM programs.
Item 1.01 verify on EDGAR →
Summary
Trinity Capital, a business development company, has established an at-the-market equity offering program that allows it to sell up to $300 million of common stock over time through four investment banks.
Unlike a traditional stock offering where shares are sold all at once, this ATM program gives Trinity flexibility to sell shares gradually into the market at prevailing prices when management believes conditions are favorable. The company has no obligation to use the program. For existing shareholders, this represents potential dilution if Trinity exercises the program.
However, the proceeds will be used to fund new investments consistent with Trinity's strategy as a specialty lender to growth-stage companies, which could generate returns that offset the dilution. The key question is whether management can deploy capital at attractive rates of return. Investors should monitor Trinity's quarterly disclosures for any ATM sales activity and watch whether the company's net asset value per share grows or shrinks over time, which will indicate whether new investments are accretive or dilutive to shareholder value.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Trinity Capital entered into at-the-market offering agreements to sell up to $300M of common stock through four sales agents.
Added in current filing · verify on EDGAR →
On May 7, 2026, Trinity Capital Inc. (the “Company”) entered into (i) an open market sale agreement with Jefferies LLC (“Jefferies”), as sales agent and/or principal thereunder, (ii) an open market sale agreement with B. Riley Securities, Inc. (“B. Riley”), as sales agent and/or principal thereunder, (iii) an open market sale agreement with Keefe, Bruyette & Woods, Inc. (“KBW”), as sales agent and/or principal thereunder, and (iv) an open market sale agreement with Compass Point Research & Trading, LLC (“Compass” and together with Jefferies, B. Riley and KBW, the “Sales Agents”), as sales agent and/or principal thereunder.
Trinity Capital signed agreements with four investment banks to potentially sell common stock through at-the-market offerings. This gives the company flexibility to raise capital by selling shares directly into the market over time rather than through a traditional underwritten offering.
Added in current filing · verify on EDGAR →
Under the Sales Agreements, the Company may, but has no obligation to, issue and sell, from time to time, up to $300,000,000 in aggregate offering price of shares (the “Shares”) of its common stock, par value $0.001 per share, through the Sales Agents, 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.
The company can sell up to $300 million worth of common stock under these agreements, though it has no obligation to do so. Proceeds will be used primarily for making investments consistent with the company's strategy and general corporate purposes. This represents potential dilution for existing shareholders if shares are sold.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Under the terms of the Sales Agreements, each Sales Agent will receive a commission from the Company equal to up to 2.00% of the gross sales price of any Shares sold through the Sales Agent under the Sales Agreements and reimbursement of certain expenses.
The sales agents will receive commissions of up to 2% of gross sales proceeds plus expense reimbursement. This is a standard fee structure for at-the-market offerings and will reduce the net proceeds the company receives from any stock sales.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 15, 2026 · How we verify