06:11 AM EDT, 03/26/2024 (MT Newswires) -- Trinity Capital ( TRIN ) said late Monday it has priced an underwritten public offering of $100 million of its 7.875% notes due 2029.

The notes are being issued at 100% of the principal amount per note.

Underwriters have been granted a 30-day option to purchase additional notes in an amount up to $15 million to cover overallotments, if any.

Net proceeds from the offering, which is set to close on Thursday, will be used to pay down a portion of the company's existing debt, with the remainder to be used to redeem a portion of its outstanding 7% notes due 2025.