Trinity Biotech plc announced a private placement to issue 11,200,000 American Depository Receipts at a price of $2.25 per American Depository Receipts for gross proceeds of $25,200,000 and agreed to issue, unsecured junior convertible note in the amount of $20,000,000, for aggregate gross proceeds of $45,200,000 on April 11, 2022. The transaction will include participation from new investor MiCo Ltd. The note will be interest rate of 1.5% and mandatorily convertible into American Depository Receipts at a conversion price of $3.24 per American Depository Receipts and will have a term of seven years. Following this investment MiCo Ltd. will hold 29.9% of the stake in the company.

The investment is subject to customary Korean central bank approvals and is expected to close before the end of April 2022.