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Matheson advises Trinity Biotech plc on $45 million strategic investment announced today

Matheson is pleased to have advised Trinity Biotech plc (Nasdaq: TRIB) (“Trinity”), a leading global diagnostic company, on its $45 million strategic investment and partnership with MiCo Ltd (“MiCo”), a South Korea-based company listed on KOSDAQ.  Following this investment, MiCo will hold 29.9% of the voting share capital of Trinity.  In addition to the newly issued equity, Trinity has agreed to issue a seven-year, unsecured junior convertible note in the amount of $20 million to MiCo.

Speaking today, David Fitzgibbon of Matheson said “We in Matheson are delighted to have advised our client, Trinity Biotech plc, on this important transaction, having also advised the company on its successful refinancing with Perceptive Advisors in January 2022. This deal underlines Matheson’s expertise in capital markets, following on from the firm’s role in advising on multiple high-profile public fundraising transactions in recent years.”

Completion of the deal is subject to customary approvals and is expected to close before the end of April 2022.  The Matheson team was led by partners David Fitzgibbon and David Jones, and senior associate Eoin Shiel from our Corporate Department. Specialist input was also provided by partner Donal O’Donovan and senior associate Finnbahr Boyle in our Finance and Capital Markets team.