Trinity Capital prices IPO

Trinity Capital Inc. priced an IPO of 7,375,274 shares of its common stock at $14.00 per share.

The offering consists of 6.9 million shares being sold by Trinity and 475,274 shares being sold by certain selling stockholders. Trinity also granted the underwriters an option to purchase up to an additional 1,106,291 shares.

The shares are expected to be delivered on or about Feb. 2.

The company intends to use the net proceeds from the offering to pay down a portion of its existing debt outstanding under its credit agreement, to make investments and for general corporate purposes.

Keefe Bruyette & Woods, Wells Fargo Securities and UBS Investment Bank are acting as joint bookrunning managers for the offering. Janney Montgomery Scott, B. Riley Securities, Ladenburg Thalmann and Compass Point are serving as co-managers.

Trinity's common shares began trading on the Nasdaq Global Select Market Jan. 29 under the symbol TRIN.