Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Trinity Capital backs Rocket Lab with $120 million financing

EditorLina Guerrero
Published 02/20/2024, 04:16 PM
Updated 02/20/2024, 04:16 PM
© Reuters.

PHOENIX - Trinity Capital Inc . (NASDAQ: NASDAQ:TRIN), a provider of financial solutions to growth-stage companies, has committed to a $120 million equipment financing deal with Rocket Lab USA, Inc. (NASDAQ: RKLB), a company at the vanguard of space launch and satellite technology services.

The new debt facility from Trinity is earmarked for supporting Rocket Lab's expansion plans. This includes financing for increased manufacturing capacity, testing equipment, and research and development initiatives. Rocket Lab, headquartered in Long Beach, California, has a proven track record in the space industry, having integrated its technology into over 1,700 satellites and conducted 43 launches to date.

Kyle Brown, Trinity's CEO, emphasized the significance of the partnership, stating that it aligns with Trinity's commitment to advancing space innovation technologies. The financing follows Rocket Lab's recent $515 million contract with the Space Development Agency for the production and operation of 18 satellites, highlighting the company's growth trajectory and its role as a satellite prime contractor.

Cory Cramer, Trinity's Director of Equipment Financing, expressed enthusiasm about collaborating with Rocket Lab, citing the company's contributions to making space access more efficient and cost-effective. Adam Spice, Rocket Lab's CFO, acknowledged the partnership as a catalyst for accelerating the company's expansion to meet the increasing demand for space services from commercial and government customers.

This financing arrangement is based on a press release statement and showcases Trinity's strategic investment approach, focusing on companies that are pioneering significant technological advancements.

Trinity Capital Inc. is an internally managed business development company specializing in term loans, equipment financings, and equity-related investments. Rocket Lab, an established space company since 2006, offers comprehensive space solutions, including the Electron orbital launch vehicle and the Photon satellite platform.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The company is also developing the larger Neutron launch vehicle for constellation deployment. Rocket Lab's services are integral to various sectors, including national security, scientific research, and Earth observation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.