Is TRNZ diluting shareholders?

Read three numbers together: shares outstanding over time (98.8M as of 2026-11-02), warrants that can convert into new shares, and how much cash runway remains (~0.4630596882533861 months). A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

Dilution profile // every instrument, one screen, from SEC filings

Trinity Capital Inc. (TRNZ)

CIK 1786108 · all EDGAR filings →

Overall dilution risk

HIGHworst of 3 computed sub-ratings (historical dilution)

= the worst band among the computed sub-ratings, no hidden weighting

not every sub-rating was computable; treat as a floor

Offering ability

LOWno live registration found

= is there a registration (S-1/S-3 family) on file without a later withdrawal

Overhead supply

NOT COMPUTEDno warrant count tagged in XBRL

= warrant shares outstanding divided by current shares outstanding

absence of a tag is not proof of absence of warrants

Historical dilution

HIGH+113% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

Cash need

HIGH~0.5 months of runway

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Latest: 98.8M shares as of Nov 2, 2026 (10-Q).

⊙

EVIDENCE — filed/published fact

SourceSEC XBRL, cover-page share count

Fielddei:EntityCommonStockSharesOutstanding

As of2026-11-02

HowThe newest cover-page count as filed. It is used as the current count only while it is no more than about 15 months older than the company’s newest periodic filing; the float checker applies a 200-day rule and sets it beside the balance-sheet count.

Open the source document →

Cash runway

~0 months of cash left

critical · burning $133.9M / quarter

Full breakdown: cash runway tool · source filing →

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

Note	Principal	Carrying	Conv. price	Rate	If converted
May 2031 Notes	$300.0M	$294.2M	not tagged	7%	—
March 2029 Notes	$142.2M	$140.3M	not tagged	7.875%	—
July 2030 Notes	$125.0M	$122.6M	not tagged	6.75%	—
September 2029 Notes	$122.2M	$119.9M	not tagged	7.875%	—
Six Point Zero Zero Percentage Convertible Notes Due Two Thousand Twenty Five	$50.0M	—	not tagged	6%	—
Convertible Notes Redemption	not tagged	—	not tagged	—	—

Notes exactly as the company dimensioned them in its 10-Q filed Nov 4, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Registrations and offerings

Last 12 months: 5 executed · 0 registered.

EXECUTEDOct 2, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

EXECUTEDSep 30, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

MARKETINGSep 30, 2026Free-writing prospectus — offering being marketedFWP →

EXECUTEDMay 21, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

EXECUTEDMay 19, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

MARKETINGMay 19, 2026Free-writing prospectus — offering being marketedFWP →

EXECUTEDMay 7, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

EXECUTEDAug 29, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

EXECUTEDJun 30, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

EXECUTEDJun 26, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

MARKETINGJun 26, 2025Free-writing prospectus — offering being marketedFWP →

EXECUTEDFeb 10, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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