Brief: Trinity Biotech Reports $45 Mln Strategic Investment And Partnership With The MiCo Group of South Korea

Trinity Biotech

11/04/2022 15:56

April 11 (Reuters) - Trinity Biotech PLC  TRIB.O :
    * TRINITY BIOTECH ANNOUNCES A $45 MILLION STRATEGIC
INVESTMENT AND
PARTNERSHIP WITH THE MICO GROUP OF SOUTH KOREA
    * TRINITY BIOTECH PLC- FOLLOWING THIS INVESTMENT MICO WILL
HOLD
29.9% OF VOTING SHARE CAPITAL OF COMPANY
    * TRINITY BIOTECH PLC - INVESTMENT CONSISTS OF ABOUT 11.2M
ADSS AT
A PRICE OF $2.25 PER ADS
    * TRINITY BIOTECH PLC- FUNDS WILL BE PRIMARILY USED TO REPAY
A
PORTION OF COMPANY'S $81.25 MILLION TERM LOAN
    * TRINITY BIOTECH PLC - TO ISSUE SEVEN-YEAR, UNSECURED
JUNIOR
CONVERTIBLE NOTE OF $20 MILLION, WITH FIXED INTEREST RATE OF
1.5%
    * TRINITY BIOTECH PLC - FOUNDER AND CHAIR OF MICO, SUN-Q
JEON,
WILL BECOME CHAIRPERSON OF TRINITY BIOTECH
    * TRINITY BIOTECH PLC - ARIS KEKEDJIAN AND MICHAEL SUNG SOO
KIM
EXPECTED TO JOIN BOARD ONCE INVESTMENT HAS COMPLETED
    * TRINITY BIOTECH PLC - KEVIN TANSLEY, CLINT SEVERSON AND
JAMES
MERSELIS WILL RETIRE FROM BOARD
    * TRINITY BIOTECH PLC- WILL CONTINUE TO BE LED BY ITS SENIOR
EXECUTIVE TEAM, CEO RONAN O'CAOIMH, CFO JOHN GILLARD

Source text for Eikon:  ID:nGNX6NNq3Y 
Further company coverage:  TRIB.O 

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