Trinity Capital Inc. Holds Annual Meeting, Re-elects Directors

Trinity Capital Inc (NASDAQ:TRIN)., a business development company, held its Annual Meeting of Stockholders on Thursday, June 12, 2025. At the meeting, the stockholders re-elected two directors and ratified the appointment of Ernst & Young LLP as the company’s independent auditor for the fiscal year ending December 31, 2025.

The company, which is based in Phoenix, Arizona, and incorporated in Maryland, has its common stock and 7.875% Notes due 2029 registered on the Nasdaq Global Select Market under the trading symbols TRIN, TRINZ, and TRINI, respectively. InvestingPro analysis shows the company maintains a strong financial health score of 3.04 (GREAT) and has achieved impressive revenue growth of 30.7% over the last twelve months.

During the Annual Meeting, stockholders voted on two key proposals. The first proposal was the election of directors. Irma Lockridge and Steven L. Brown were re-elected to the board to serve until the 2027 Annual Meeting of Stockholders. The voting results for Lockridge were 18,880,146 for, 4,287,274 against, and 1,022,369 abstentions. Brown received 22,674,479 votes for, 499,662 against, and 1,015,648 abstentions. There were 23,474,927 broker non-votes for both candidates.

The second proposal was the ratification of Ernst & Young LLP as the company’s independent registered public accounting firm for the current fiscal year. The proposal was approved with 45,803,934 votes for, 804,366 against, and 1,056,416 abstentions.

The company confirmed that as of April 15, 2025, the record date for the Annual Meeting, there were 64,654,247 shares of the company’s common stock outstanding and entitled to vote.

This report is based on a press release statement filed with the Securities and Exchange Commission.

In other recent news, Trinity Capital reported its Q1 2025 earnings, revealing a miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.43, falling short of the expected $0.52, and revenue of $65.4 million, below the forecasted $67.46 million. Despite these misses, Trinity Capital demonstrated a 30% year-over-year increase in total investment income, reaching $65 million. The company’s net asset value (NAV) per share decreased from $13.35 to $13.05, indicating some pressure on asset valuations. However, Moody’s assigned Trinity Capital an investment-grade rating, which could potentially open up access to cheaper capital and a new pool of investors. Analyst firms such as Compass Point and UBS inquired about Trinity’s strategy amid macroeconomic conditions during the company’s earnings call, highlighting the firm’s cautious approach to new commitments. The company is focusing on expanding its managed account business and exploring opportunities in U.S. manufacturing. Trinity Capital aims to grow its earnings and dividends while maintaining a conservative underwriting approach.

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