- Trinity Capital (NASDAQ:TRIN) on Friday announced an adjustment to the conversion rate of its 6.00% convertible notes due 2025 as a result of the company’s cash dividend of $0.51 per share, payable on July 15, to stockholders of record as of June 28.
- The ex-dividend date for dividend was June 28.
- Effective immediately after the close of business on June 28, the conversion rate of the convertible notes will be adjusted to 79.2226 shares of the company’s common stock per $1,000 principal amount of convertible notes from the prior conversion rate of 78.0543 shares of common stock per $1,000 principal amount of convertible notes, which had been in effect since April 1, 2024.
- As a result, the conversion price applicable to the convertible notes will be adjusted to $12.62 per share of common stock from $12.81 per share of common stock.
- Source: Press Release
2024-06-28