v3.25.2
Consolidated Statements of Assets and Liabilities - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Total investments $ 1,978,330 [1],[2],[3] $ 1,725,570 [4],[5],[6]
Cash and cash equivalents 26,251 [1],[2] 9,627 [4],[5]
Interest receivable 17,664 16,542
Deferred credit facility costs 5,870 6,586
Other assets 16,909 15,916
Total assets 2,045,024 1,774,241
LIABILITIES    
Unsecured Notes, net of $8,523 and $10,327, respectively, of unamortized deferred financing costs 569,808 764,673
Distribution payable 35,483 31,451
Security deposits 5,918 8,472
Accounts payable, accrued expenses and other liabilities 27,247 33,663
Total liabilities 1,121,456 951,259
Commitments and contingencies
NET ASSETS    
Common stock, $0.001 par value per share (200,000,000 authorized, 69,574,146 and 61,669,059 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively) 70 62
Paid-in capital in excess of par 929,767 829,626
Distributable earnings/(accumulated deficit) (6,269) (6,706)
Total net assets 923,568 822,982
Total liabilities and net assets $ 2,045,024 $ 1,774,241
NET ASSET VALUE PER SHARE $ 13.27 $ 13.35
Control Investments    
ASSETS    
Total investments $ 118,496 $ 89,249
Affiliate Investments    
ASSETS    
Total investments 39,227 34,727
Non-Control / Non-Affiliate Investments    
ASSETS    
Total investments 1,820,607 1,601,594
KeyBank Credit Facility    
LIABILITIES    
Credit facility $ 483,000 $ 113,000
[1] All debt investments are income producing unless otherwise noted. All equity and warrant investments are non-income producing unless otherwise noted. Equipment financed under our equipment financing investments relates to operational equipment essential to revenue production for the portfolio company in the industry noted.
[2] All portfolio companies are located in North America or Europe. As of June 30, 2025, Trinity Capital Inc. (the "Company") had eight foreign domiciled portfolio companies, four of which are based in Canada and four of which are based in Europe. In total, these foreign domiciled portfolio investments represent 13.8% of total net asset value based on fair value. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). These investments are generally subject to certain limitations on resale and may be deemed to be “restricted securities” under the Securities Act.
[3] Except as noted, all investments were valued at fair value as determined in good faith by the Company’s Board of Directors (the “Board”) using Level 3 inputs.
[4] All debt investments are income producing unless otherwise noted. All equity and warrant investments are non-income producing unless otherwise noted. Equipment financed under our equipment financing investments relates to operational equipment essential to revenue production for the portfolio company in the industry noted.
[5] All portfolio companies are located in North America or Europe. As of December 31, 2024, Trinity Capital Inc. (the “Company”) had five foreign domiciled portfolio companies, two of which are based in Canada and three of which are based in Europe. In total, these foreign domiciled portfolio investments represent 6.3% of total net asset value based on fair value. The Company generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). These investments are generally subject to certain limitations on resale and may be deemed to be “restricted securities” under the Securities Act.
[6] Except as noted, all investments were valued at fair value as determined in good faith by the Company’s Board of Directors (the “Board”) using Level 3 inputs.