Trinity Biotech plc (TRIB), a biotechnology company focused on human diagnostics and diabetes management, on Tuesday announced it has entered into amended agreements with its primary lender, Perceptive Advisors, to secure additional liquidity as part of its Comprehensive Transformation Plan.
The amendments include the extension of a $5 million deferred consideration payment related to the Waveform Technologies acquisition to November 2025, providing the company with increased financial flexibility.
In addition, Trinity Biotech has received approximately $5.5 million in new liquidity through cash and payment-in-kind interest, helping to strengthen its financial position during this pivotal period.
As part of the agreement, Perceptive Advisors has been granted 1.5 million additional warrants to purchase the company's ADS, and the existing warrants have been repriced at an exercise price of $0.80 per ADS.
This strategic funding will support Trinity Biotech's transformation initiatives, including the development of its continuous glucose monitoring (CGM) technology.
Recently, the company received World Health Organization approval for the transfer of its HIV test manufacturing to a lower-cost offshore partner, highlighting its progress in executing the transformation plan.
"We are confident these amendments will bolster our financial foundation as we execute on our strategic objectives," said John Gillard, CEO of Trinity Biotech. "With this additional liquidity and the recent WHO approval, we are well-positioned to accelerate growth and profitability."
Currently, TRIB is trading at $0.90, up by 0.33%
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