Trinity Capital adjusts convertible note conversion rate to 74.6205 shares due to $0.53 dividend; board declassified

Trinity Capital Inc.

Conversion rate on 6.00% Convertible Notes due 2025 adjusted to 74.6205 shares per $1,000 principal (from 73.3359); conversion price to $13.40 (from $13.64).
Triggered by $0.53/share cash dividend ($0.48 regular + $0.05 supplemental) payable July 14, 2023; ex-dividend date June 29.
Board of Directors declassified effective June 28, 2023 with four-year sunset, approved by stockholders on June 14, 2023.
Amendment to Articles of Amendment and Restatement filed with Maryland State Department of Assessments and Taxation.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Trinity Capital Inc.: Amendment to declassify the Board of Directors, subject to a four-year sunset (effective 2023-06-28).

Change: charter amendment
Effective: 2023-06-28

Exact text from the filing

On June 14, 2023, the stockholders of Trinity Capital Inc. (the “Company”) approved a proposal to amend the Articles of Amendment and Restatement of the Company to declassify the Company’s Board of Directors (the “Board”), subject to a four-year sunset, at the Company’s 2023 Annual Meeting of Stockholders. Effective as of June 28, 2023, the Company amended its Articles of Amendment and Restatement to declassify the Company’s Board, subject to a four-year sunset.

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Source: SEC EDGAR

accession 0001213900-23-053521

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