Trinity Capital . 7.875% Notes Due 2029 Stock Earnings Reports

Trinity Capital reported strong Q1 2026 results driven by diversified lending across five verticals and a growing managed-funds platform. Key financials: NAV rose to $1.2 billion (up 7% QoQ, 40% YoY), platform AUM > $2.9 billion (+36% YoY), $306M funded in the quarter with $396M in commitments, NII of $44.5M or $0.53 per basic share (104% coverage of the quarterly dividend), and record liquidity > $500M including managed-fund capacity. Managed funds AUM reached $400M; the SBIC fund closed initial equity of $45.3M and, when fully scaled, is expected to add ~ $260M of low-cost SBA leverage. Trinity announced a joint venture with Capital Southwest to access first-out senior secured loans in the lower middle market. Credit metrics remain strong: nonaccruals ~1% of portfolio, ~88% of principal secured by first liens, weighted average loan-to-value ~19% for enterprise-backed loans, and 99% of debt investments performing at fair value. The company is prioritizing disciplined underwriting, shareholder alignment (internally managed structure), and growing fee income from off-balance-sheet vehicles to reduce reliance on issuing equity and to drive NAV accretion over time.