Trinity Biotech plc announced on December 24, 2024, that it has entered into amended agreements with its primary lender, Perceptive Advisors, to enhance liquidity. These strategic amendments provide additional financial flexibility to support the company's Comprehensive Transformation Plan and the ongoing development of its continuous glucose monitoring (CGM) technology. The additional liquidity is critical during this pivotal period of transformation.
Under the terms of the agreements, a deferred consideration payment of $5 million related to the acquisition of Waveform Technologies' biosensor assets has been extended to November 2025. Furthermore, approximately $5.5 million in additional liquidity has been provided to Trinity Biotech through a combination of cash and payment-in-kind interest. This strengthens the company's financial position.
As part of the agreement, Trinity Biotech granted Perceptive Advisors 1.5 million additional warrants to purchase the company's ADSs and repriced its existing ADS warrants at an exercise price of $0.80 per ADS. This reinforces the ongoing partnership between the two entities. The additional liquidity will support critical initiatives, including the development of the CGM technology, and further positions Trinity Biotech for growth and profitability.
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