Trinity Capital Inc.

Good afternoon. My name is Mike, and I will be your conference operator today. At this time, I would like to welcome everyone to Trinity Capital's third 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 on the call. This call is being recorded and will be available for replay beginning at approximately 3 p.m. Eastern Time. The replay dial-in number is 888-214-9523 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 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, please pick up your handset to allow optimal sound quality. Lastly, if you should require operator assistance again, please press star 0. It is now my pleasure to turn the call over to Trinity Capital's Director of Investor Relations, Ben Malcolmson. Please go ahead.

Thank you, Mike, and welcome everyone to Trinity Capital's earnings conference call for the third quarter of 2023. Trinity's third 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 create that could cause actual results to differ materially from those expressed or implied by these 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, November 1st, 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 thanks everyone for joining us today. As you have seen in the earnings release, we generated strong third quarter results with record net investment income fueled by a robust originations pipeline. Net investment income for the quarter was $23.4 million, or NII per share of $0.58, providing 118% coverage on our regular dividend. NAV increased by $0.02 to $13.17 per share, due in part to a healthy balance sheet and the stability of our portfolio, which out-earned our distributions. We further strengthened our liquidity during the quarter by accretive stock issuances under our ATM program. as well as our $82 million equity raise in August. I'm especially pleased that we have increased our quarterly dividend by 2.1%, marking the 11th consecutive quarter of dividend increases. Last month, we increased our quarterly regular dividend to 49 cents per share, in addition to a supplemental dividend of 5 cents per share to comply with tax regulations. The board will further evaluate our tax position in Q4 and determine if additional supplemental dividends are required. As we previously announced, effective January 1, 2024, and consistent with the company's long-term succession plan, I will become executive chairman of the board of directors while continuing to serve on the company's investment committee, and Kyle Brown will become chief executive officer. As CEO of Trinity for the past 15 years, I have had the privilege of leading a best-in-class team And together, we took the platform public, creating significant returns for our investors. Since our IPO in 2021, Trinity has delivered more than $169 million in cumulative distributions. Also, we have been approved to launch an RIA and have successfully started a JV, both of which provide off-balance sheet growth opportunities that give us the ability to generate accretive returns for our BDC investors. I look forward to transitioning into this new role and partnering with Kyle as he leads this team toward our next phase of growth. Since joining the firm in 2015, Kyle has played an important role in his capacity as President and Chief Investment Officer, where he has overseen the company's lending policies and investment strategy. He has been a driving force in building this team and our business, and he is in a prime position to lead us to even better places. This is an exciting next chapter for Trinity, and with that, I'll turn the call over to Kyle.