Latest news with #TrinityCapital
Associated Press
a day ago
- Business
- Associated Press
AST SpaceMobile Secures Additional $100.0 Million of Liquidity from Non-Dilutive Equipment Financing
MIDLAND, Texas--(BUSINESS WIRE)--Jul 3, 2025-- AST SpaceMobile, Inc. ('AST SpaceMobile') (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced the closing of a $100.0 million equipment financing facility led by Trinity Capital Inc. (NASDAQ: TRIN) ('Trinity'), a leading alternative asset manager. This non-dilutive financing is designed to support AST SpaceMobile's accelerated manufacturing and network deployment goals during 2025 and 2026. 'This new non-dilutive financing enables AST SpaceMobile to continue its strong momentum executing against its accelerated operational plans,' said Andrew Johnson, Chief Financial Officer of AST SpaceMobile. 'This facility is the first such type of financing agreement for the company and reflects our stage of rapid growth and transition from Research & Development to full-scale manufacturing and network deployment.' This non-dilutive financing provides an additional $100.0 million of long-term liquidity, including $25.0 million drawn at closing against previously purchased equipment, available through 2031. The facility uses existing and planned equipment as collateral and is designed to fit into a more mature, long-term capital structure, facilitating future debt capital, enabling flexibility and facilitating continued growth. The company's capital structure continues to mature through a robust funding strategy, demonstrated by the successful convertible note issuance in January 2025, the retirement of approximately half the convertible notes after a share price increase of over 100% within six months, the diligent and prudent use of the 2025-issued At-the-Market facility, while concluding the second quarter with over $900.0 million in cash, cash equivalents, and restricted cash. About AST SpaceMobile AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, and designed for both commercial and government applications. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today's five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, X (formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission. About Trinity Capital Inc. Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. Trinity Capital sources and structures investments in well-capitalized growth-oriented companies. With five distinct business verticals–Sponsor Finance, Equipment Finance, Tech Lending, Asset-Based Lending, and Life Sciences–Trinity Capital stands as a long-term trusted partner for innovative companies seeking tailored debt solutions. Headquartered in Phoenix, Arizona, Trinity Capital's dedicated team is strategically located across the United States and in London (UK). For more information on Trinity Capital, please visit and stay connected to the latest activity via LinkedIn and X (@trincapital). Forward-Looking Statements This communication contains 'forward-looking statements' that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'may,' 'will,' 'would,' 'potential,' 'projects,' 'predicts,' 'continue,' or 'should,' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile's control and are difficult to predict. Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile's strategies and future financial performance, including AST's future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile's ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile's responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company's filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile's Form 10-K filed with the SEC on March 3, 2025 and Form 10-Q filed with the SEC on May 12, 2025. AST SpaceMobile's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. View source version on CONTACT: Investor Contact:Scott Wisniewski [email protected] Contact:Allison Eva Murphy Ryan 917-547-7289 [email protected] KEYWORD: UNITED STATES NORTH AMERICA TEXAS INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS AEROSPACE MANUFACTURING 5G OTHER COMMUNICATIONS OTHER TECHNOLOGY PUBLIC RELATIONS/INVESTOR RELATIONS TELECOMMUNICATIONS NETWORKS COMMUNICATIONS INTERNET OTHER MANUFACTURING SATELLITE SOURCE: AST SpaceMobile, Inc. Copyright Business Wire 2025. PUB: 07/03/2025 07:30 AM/DISC: 07/03/2025 07:30 AM
Yahoo
03-06-2025
- Business
- Yahoo
Paytient Secures $40 Million from Trinity Capital to Fuel Market Expansion
Funding supports Paytient's rapid growth as cost-smoothing becomes a standard component of modern benefit design COLUMBIA, Mo., June 3, 2025 /PRNewswire/ -- Paytient, the healthcare payments company helping people better access and afford care, has secured $40 million from Trinity Capital, a trusted partner for innovative companies seeking tailored growth capital solutions. The facility will support Paytient's expansion into large group employer-sponsored plans, alternative health plans, the ACA marketplace, and Medicare, as plan-embedded out-of-pocket affordability or cost-smoothing solutions are becoming standard in health plan benefits. Paytient enables employers and insurers to transform how cost share responsibility feels for patients. As part of the health plan, Paytient enables people to easily access care from providers and manage out-of-pocket healthcare costs over time, without interest or fees. Paytient empowers members to confidently choose lower-premium plans by creating certainty that any healthcare expense that they need to self-pay will be more affordable. Paytient improves patient decision making, lowers premium costs and creates financial savings for employers. "This partnership allows us to scale faster and meet the growing demand from insurers and employers looking to offer smarter, more human-centered ways to help people navigate the cost of care," said Brian Whorley, founder and CEO of Paytient. "The last twenty years have been characterized by shifting responsibility to patients without a matching ability to pay for care. When ability to pay is part of the plan, you see better decision-making and a healthier health system in several important ways." Today, Paytient serves over 23 million members and partners with nearly 7,000 employers, insurers and providers, including major payers who now embed cost-smoothing into their plan designs as a standard affordability benefit. The company is riding several tides: The Medicare Prescription Payment Plan (M3P solution) gives every Part D beneficiary the ability to pay for care over time. Paytient is America's largest provider of M3P payment solutions, powering 40% of the Part D marketplace. A strategic partnership with HealthEquity that gives employees greater confidence to access and afford healthcare. Expansion of ACA marketplace partnerships, now active in 13 states, up from 8 in 2024—with a nationwide expansion in 2026 through a previously unannounced partnership with a major national insurer. "As healthcare costs continue to rise, Paytient is solving a critical pain point for both patients and the organizations that serve them," said Jack McNamara, Director of Tech Lending for Trinity Capital. "Their proven model, strong leadership, and rapid market traction position them well for long-term success." "Cost-smoothing isn't just a feature—it's a foundational shift in how we pay for care that creates a virtuous cycle of value creation within the system," said Whorley. "We're committed to making it a standard part of every health plan, no matter what kind of insurance someone has." About PaytientPaytient is transforming how Americans access and afford healthcare. The company provides employer- or health plan-embedded payment solutions that members can use to pay for out-of-pocket medical, dental, vision, pharmacy, and veterinary expenses. About Trinity CapitalTrinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager that seeks to deliver consistent returns for investors through access to private credit markets. Trinity Capital sources, structures, and invests in well-capitalized growth-oriented companies. With distinct business verticals: Sponsor Finance, Equipment Finance, Tech Lending, Asset-Based Lending, and Life Sciences, Trinity Capital stands as a long-term trusted partner for innovative companies seeking tailored debt structures. Headquartered in Phoenix, Arizona, Trinity Capital's dedicated team is strategically located across the United States and in London (UK). For more information on Trinity Capital, please visit and stay connected to the latest activity via LinkedIn and X (@trincapital). View original content to download multimedia: SOURCE Paytient Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-04-2025
- Business
- Yahoo
CMR secures over $200m to commercialise surgical robotic system
CMR Surgical has completed a financing round of more than $200m, combining equity and debt capital to expedite the commercialisation of its Versius Surgical Robotic System, particularly focusing on the US market. Through these funds, the company also aims to bolster its growth strategy. The financing round is supported by all current investors and includes a debt investment from alternative asset manager Trinity Capital, which has pledged up to $68.75m in growth capital to the company as part of this current financing initiative. The funds will also support ongoing innovation and product development, including the introduction of the enhanced Versius Plus. Armentum Partners served as the company's financial adviser for the debt financing of the funding round. Deployed in more than 30,000 surgeries across over 30 nations so far, the Versius system aims to enhance surgical procedures. It received de novo marketing clearance from the US Food and Drug Administration (FDA) last year for cholecystectomy procedures in adults aged over 22. Versius 'biomimics' the arm of the human, offering surgeons dexterity and precision with fully wristed, small instruments. CMR is anticipating the broadening of its clinical footprint through two ongoing trials, a multi-centre prospective study of Versius in paediatric surgery and a transoral robotic surgery (TORS) study, showcasing the system's 'versatility' in surgical applications. CMR Surgical CEO Massimiliano Colella said: 'We are now at a pivotal stage, poised to capitalise on significant opportunities for market expansion, including in the US, while continuing to penetrate deeper into existing markets. 'I would like to give thanks to our chief financial officer, Andre Nel, and the team for securing this financing to provide the foundation for realising our strategic vision of making robotic-assisted surgery accessible to all patients who need it whilst accelerating future product development.' With its headquarters in the UK, CMR is collaborating with surgeons and hospitals to make robotic minimal-access surgery widely 'affordable' and 'accessible'. "CMR secures over $200m to commercialise surgical robotic system" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
27-02-2025
- Business
- Yahoo
Trinity Capital Inc (TRIN) Q4 2024 Earnings Call Highlights: Record Net Investment Income and ...
Net Investment Income (Full Year 2024): $116 million, or $2.20 per share. Net Investment Income (Q4 2024): $35 million, a 38% increase from Q4 2023. Net Asset Value (NAV) Q4 2024: $823 million, up 9% from $757 million in the prior quarter. Total Investment Income (Q4 2024): $71 million, a 48% increase over Q4 2023. Effective Yield on Portfolio (Q4 2024): 16.4%. Core Yield (Q4 2024): 14.7%. Return on Average Equity (ROAE): 17.4% based on net investment income over average equity. Return on Average Assets (ROAA): 7.6% based on net investment income over average total assets. Net Gains (Q4 2024): Approximately $9.3 million from the sale of two equity and warrant positions. Net Leverage Ratio (December 31, 2024): 1.08 times. Portfolio Composition (End of Q4 2024): 75% secured loans, 18% equipment financing, 5% equity, 2% warrants. Non-Accrual Credits (End of Q4 2024): Total fair value of approximately $12.7 million, representing 0.8% of the total debt portfolio. Portfolio Companies' Equity Raised (Q4 2024): $1.9 billion. Portfolio Companies' Equity Raised (Full Year 2024): $4.7 billion, a 69% increase from 2023. Warning! GuruFocus has detected 7 Warning Signs with TRIN. Release Date: February 26, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Trinity Capital Inc (NASDAQ:TRIN) achieved record net investment income of $116 million for 2024, translating to $2.20 per share. The company expanded its lending platform into Europe with a new London-based team, enhancing its international presence. Trinity Capital Inc (NASDAQ:TRIN) launched new business verticals in sponsor finance and asset-backed lending, diversifying its revenue streams. The company reported a strong fourth quarter with a 38% increase in net investment income compared to the previous year. Trinity Capital Inc (NASDAQ:TRIN) maintained a high effective yield of 16.4% on its portfolio, outperforming industry averages. The company faces potential risks from macroeconomic cycles, which could impact its investment pipeline and portfolio performance. Trinity Capital Inc (NASDAQ:TRIN) has a net leverage ratio of 1.08 times, which may pose a risk if market conditions deteriorate. The company experienced a slight increase in non-accrual credits, with one new addition from the tech lending portfolio. There is a potential NAV impact of approximately $0.27 per share in Q1 2025 due to the early extinguishment of debt obligations. Trinity Capital Inc (NASDAQ:TRIN) has exposure to fintech companies that rely on bank partnerships, which could be a risk if these partnerships face challenges. Q: How has Trinity Capital maintained low non-accruals, and are there any early warning signs of credit deterioration as we head into 2025? A: Ron Kundich, Chief Credit Officer, explained that Trinity Capital's low non-accruals are due to their rigorous underwriting process and expertise within each of their five business verticals. Each vertical has specialized underwriters and portfolio managers, which helps maintain credit quality. There are no immediate warning signs of credit deterioration as they head into 2025. Q: How is Trinity Capital approaching leverage in the current environment? A: Kyle Brown, CEO, stated that Trinity Capital aims to decrease leverage over time. They plan to raise money off-balance sheet and create new liquidity, allowing them to maintain a healthy leverage level around one-to-one. The goal is to decrease leverage while increasing earnings per share as the RIA generates new earnings. Q: What is Trinity Capital's strategy for raising capital through the ATM program, and how does it align with maintaining leverage? A: Kyle Brown, CEO, mentioned that the ATM program is used as just-in-time financing, which is less expensive and efficient. They plan to raise equity or debt in a way that is accretive to investors. Michael Testa, CFO, added that they are diversifying capital sources and have launched a debt ATM for additional flexibility. Q: Can you quantify the retirement expense for the bond conversion next quarter? A: Michael Testa, CFO, estimated a $0.27 per share impact on NAV due to the bond conversion. The cost to extinguish the debt is approximately $66 million. Q: How does Trinity Capital manage fintech exposure, particularly regarding bank partnerships? A: Gerald Harder, COO, explained that they consider bank partnerships during underwriting, ensuring multiple banks are involved to mitigate risks. Kyle Brown, CEO, added that their ABL group focuses on fintech, often replacing banks by providing advances against receivables, which they find favorable. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
