Trinity Biotech Shoots up 21% on News
Trinity Biotech (TRIB) has announced that it has secured a $45M equity plus debt investment in a partnership deal with Korean Biomedical Company MiCo.
The investment consists of 11.2M Trinity shares at a 130% premium to TRIB’s last close of $0.98.
The debt component includes a $20M seven-year unsecured junior convertible note.
About Trinity Biotech
Trinity Biotech develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market. The products are used to detect infectious diseases and to quantify the level of Haemoglobin A1c and other chemistry parameters in serum, plasma and whole blood. Trinity Biotech sells direct in the United States, Germany, France and the U.K. and through a network of international distributors and strategic partners in over 75 countries worldwide.