Trinity Biotech enters increased loan facility to fund potential acquisitions

Trinity Biotech announced its entry into an increased loan facility to fund potential acquisitions and ongoing operations. The Company announced that it and its subsidiaries entered into an amended and restated senior secured term loan credit facility with Perceptive Advisors. The amendment to the Term Loan allows for an immediate $5,000,000 increase to its outstanding Term Loan and provides for a $20,000,000 facility to fund potential acquisitions. The 48-month Term Loan matures in January 2026 and accrues interest at an annual rate equal to 11.25% plus the greater of Term SOFR Reference Rate and one percent per annum, and interest is payable monthly in arrears in cash. The Term Loan does not require any amortization, and the entire unpaid balance will be payable upon maturity. The Term Loan can be repaid, in part or in full, at a premium before the end of the four-year term. In connection with the increased Term Loan facility, the Company has agreed to reprice the 2,500,000 warrants originally issued to Perceptive under the Term Loan, with the Warrants now having a per ADS price of $1.071 compared to their initial per ADS exercise price of $1.30.