Trinity Capital Inc.

Good afternoon. My name is Chelsea and I will be your conference operator today. At this time, I would like to welcome everyone to Trinity Capital's second quarter 2023 earnings conference call. Our hosts for today's call are Steve Brown, Chairman and Chief Executive Officer, Kyle Brown, President and Chief Investment Officer, David Lund, Chief Financial Officer, Michael Testa, Chief Accounting Officer, and Ben Malcolmson, Director of Investor Relations. Jerry Harder, Chief Operating Officer, Ron Kundich, Chief Credit Officer, and Sarah Stanton, Chief Compliance Officer and General Counsel are also present. Today's call is being recorded and will be made available for replay at 3 p.m. Eastern Time. The replay dial number is 800-839- and no conference ID is required for access. At this time, all participants have been placed in a listen-only mode and the floor will be open for your questions following the presentation. If you would like to ask a question at that time, please press star 1 on your telephone keypad. If at any point your question has been answered, you may remove yourself from the queue by pressing star 2. We ask that when posing your question, you pick up your handset to allow optimal sound quality. Lastly, if you should require operator assistance, please press star zero. It is now my pleasure to turn the call over to Ben Malcolmson. Please go ahead.

Thank you, Chelsea, and welcome everyone to Trinity Capital's earnings conference call for the second quarter of 2023. Trinity's second quarter financial results were released earlier this morning and can be accessed from Trinity's investor relations website at ir.trinitycap.com. A replay of the call will be available on Trinity's website or by using the telephone number provided in today's earnings release. Before we begin, I would like to remind everyone that certain statements that are not based on historical facts made during this call, including any statements relating to financial guidance, may be deemed forward-looking statements under federal securities laws. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by those forward-looking statements. We encourage you to refer to our most recent SEC filings for information on some of these risk factors. Trinity Capital assumes no obligation or responsibility to update any forward-looking statements. Please note that the information reported on this call speaks only as of today, August 2nd, 2023. Therefore, you are advised that time-sensitive information may no longer be accurate at the time of any replay listening or transcript reading. Now, please allow me to introduce Trinity Capital's Chairman and CEO, Steve Brown.

Thank you, Ben, and thank you to everyone joining us today. We finished the first half of the year with a strong operating performance, and we are pleased with the results achieved in the second quarter, with the most notable highlights, including growth in our net asset value, a 41% year-over-year improvement in net investment income, and the increase in our regular dividend for the 10th consecutive quarter. Digging a bit further into our highlights, in Q2, NAV increased by $0.08 to $13.15 per share, due in part to the stability of our portfolio, out-earning our distributions and accretive stock issuances under our ATM program. We believe our consistent track record of delivering solid returns combined with a portfolio that is proving resilient, even in a disrupted market, is leading to a stable NAV. Second quarter net investment income was $22.1 million, or NII per share of 61 cents, providing a 127% coverage on our regular dividend. Last month, we increased our quarterly regular dividend to 48 cents per share, furthering Trinity's consistent track record of increasing our dividends since our IPO. We also announced a supplemental dividend of 5 cents per share to comply with tax regulations. We will further evaluate our tax position in Q3 and determine if additional supplemental dividends are required. We continue to out-earn our regular dividend, and in addition to the undistributed income from 2022, we are always looking for new ways to strategically invest in our platform to provide greater returns for our shareholders. We look forward to providing more updates on this front in the quarters to come. Our focus continues to be on execution as we build a business that serves our customers with uncommon care and delivers accretive value to our shareholders. I'll now turn the call over to our President and Chief Investment Officer, Kyle Brown, who will dive deeper into Trinity's competitive positioning, reviewing our growing platform, and provide a portfolio update. Kyle?