Trinity Capital Inc (NASDAQ: TRIN) said on Thursday that it had provided $30 million in growth capital to Slingshot Aerospace, a leader in AI-powered solutions for satellite tracking, space traffic coordination, and space modeling and simulation.
Headquartered in El Segundo, California, Slingshot builds mission-critical solutions for training, planning, and operations by creating a common operating picture of the entire space domain.
“As space becomes more crowded, platforms like Slingshot are becoming increasingly vital to conducting in-orbit operations,” Ryan Thompson, Managing Director, Tech Lending at Trinity Capital, said in a press release.
“We are thrilled to partner with the team at Slingshot, whose innovative technology, data, and insights strive to make space safer and more secure.”
Stock Performance
The shares of Trinity Capital Inc (TRIN) closed 0.58% ($0.08) higher at $13.92 on Nasdaq on Thursday, as they extended the gain from the previous market session.
The company’s total market cap now stands at $742.919 million.
The shares of Trinity Capital Inc (TRIN) went up 32.94% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).
The company’s shares have retreated 4.20% so far this year.
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