By Luis Nonito Pasuelo
Trinity Capital Corp. will redeem Jan. 30 its outstanding preferred shares, which were originally issued under the U.S. Treasury Department’s TARP, for $50.7 million. The price includes all accrued and unpaid dividends as of the redemption date.
The securities to be redeemed include 35,539 series A preferred shares and 1,777 series B preferred shares, according to a Form 8-K filed Jan. 3.
The Los Alamos, N.M.-based company will fund the redemption using part of the proceeds from its recently closed $52.0 million private placement.