PHOENIX, Sept. 6,
2023 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ:
TRIN) ("Trinity Capital" or the "Company"), a leading provider of
diversified financial solutions to growth-stage companies, today
announced that as part of the Company's long-term succession plan,
its Board of Directors has named Kyle
Brown as Chief Executive Officer, effective January 1, 2024. At the same time, Trinity's
current CEO, Steve Brown, will
become Executive Chairman of the Board of Directors.
This carefully designed leadership transition reflects the
vision and planning of the Company's management team and Board of
Directors, who have worked collaboratively to ensure a seamless and
effective handover of responsibilities. It underscores the
Company's long-term vision and commitment to delivering value to
its stakeholders and positioning itself for continued excellence in
the evolving growth-stage lending landscape.
Steve Brown, who founded Trinity
Capital's predecessor in 2008 and has served as Chairman and CEO
since the Company's inception, will continue to remain active in
the firm's operations, focusing on identifying value-enhancing
strategic opportunities and continuing to serve on the Company's
Investment Committee. This new role will allow him to stay
committed to the firm's expansion and strategic vision, in
collaboration with the Board of Directors.
Steve Brown commented, "This
announcement is simply a formalization of what's been happening at
Trinity for quite some time now. Kyle and the executive team have
been successfully leading day-to-day operations at Trinity, and I
believe they are the best leadership team in the business. Kyle has
been an integral part of Trinity's growth and building our
world-class team. As an accomplished entrepreneur, Kyle has
demonstrated his ability to execute in a highly competitive
industry. As the Trinity platform evolves, I believe Kyle's
leadership and experience, along with the deep experience of the
executive team, will result in the continued growth of our
platform, both on and off the balance sheet, driving shareholder
value."
Kyle Brown currently holds the
position of President and Chief Investment Officer at Trinity,
where he oversees the executive team, growth initiatives, and
investment strategy. He also serves on the Board of Directors and
will continue in that capacity. Kyle has a long tenure with Trinity
Capital, starting early on, while the Company was managing private
funds, and will begin his 10th year with the firm in
January 2024. Under his leadership,
the team has grown the balance sheet from $100 million to more than $1.1 billion AUM as of the second quarter of
2023.
"We greatly value Steve's vision in leading Trinity to its
current standing within the industry," said Ronald Estes, Chair of the Audit Committee and
Lead Independent Director at Trinity. "Kyle's exceptional
leadership, coupled with his experience as a successful
entrepreneur and vast knowledge of the financial services sector,
uniquely position him to take Trinity to its next phase of growth.
The Board and I look forward to this next chapter and working with
Kyle to oversee the execution of Trinity's strategy."
Kyle Brown said, "I am honored
and thrilled to be stepping into the role of CEO of Trinity
Capital. I am committed to building upon the solid foundation laid
by Steve, and I am grateful for the trust placed in me by the
management team and Board of Directors. With a continued focus on
diversified and strategic investment in our various vertical
markets, our goal is to continue to maximize Trinity's platform and
expand the portfolio, while implementing rigorous underwriting
measures to mitigate risk. We will continue to identify, hire, and
invest in the best talent in the world and provide those
individuals with growth opportunities as we build out the Trinity
platform. We believe that, together with our remarkable team and a
differentiated strategy focused on return on equity, we will
deliver for our investors and create long-term value."
About Trinity Capital
Inc.
Trinity Capital Inc. (Nasdaq: TRIN and TRINL), an
internally managed business development company, is a leading
provider of diversified financial solutions to growth-stage
companies with institutional equity investors. Trinity
Capital's investment objective is to generate current income
and, to a lesser extent, capital appreciation through investments,
including term loans and equipment financings and equity-related
investments. Trinity Capital believes it is one of only a
select group of specialty lenders that has the depth of knowledge,
experience and track record in lending to growth stage companies.
For more information, please visit the Company's website
at www.trinitycap.com.
Forward-Looking
Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in filings with the Securities and Exchange Commission
("SEC"). The Company undertakes no duty to update any
forward-looking statement made herein. All forward-looking
statements speak only as of the date of this press release. More
information on risks and other potential factors that could affect
the Company's financial results, including important factors that
could cause actual results to differ materially from plans,
estimates or expectations included herein, is included in the
Company's filings with the SEC, including in the "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" sections of the Company's most recently
filed annual report on Form 10-K and subsequent SEC filings.
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SOURCE Trinity Capital Inc.