Trinity Biotech Signs Series Of Agreements With Perceptive Advisors To Enhance Financial Flexibility and Optimize Capital Structure For Growth

-  Arrangements provide increased near-term funding and extend maturity of credit agreement to early 2027

-  Equity settlement mechanisms also agreed for milestone payments and contingent acquisition consideration

DUBLIN, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Trinity Biotech plc (NASDAQ:TRIB), a commercial-stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announced that it has entered into a series of agreements with funds managed by Perceptive Advisors designed to enhance the Company's financial flexibility and to optimize its capital structure in support of its ongoing and future growth projects.

These transactions strengthen Trinity Biotech's financial capacity and operational flexibility, enabling continued investment in its strategic growth priorities and reinforcing its ability to deliver advanced diagnostic and diabetes management solutions. The newly executed agreements also position Trinity Biotech to advance its long‑term growth agenda while supporting a further reduction in overall debt levels.

Overview of the Transactions

These agreements reflect a continued positive relationship between Trinity Biotech and Perceptive Advisors and underscore Perceptive Advisors' support for the Company's strategy and operating momentum.

Financial Summary

• $5 million of new term-loan proceeds to strengthen liquidity and funding for continued investment in key strategic development pipeline initiatives, including the Company's innovative continuous glucose monitoring solution, CGM+.
• Up to $60 million in elective equitization capacity under the term-loan, potentially allowing for significant debt and cash interest cost reductions.
• Equity settlement mechanisms for $5 million milestone payments and $7.5 million contingent obligations, potentially reducing cash requirements.

Second Amendment to Credit Agreement & Convertible Note

Trinity Biotech, certain of its subsidiaries, and Perceptive Credit Holdings III, L.P. executed a Second Amendment to the Company's Sixth Amended and Restated Credit Agreement, which provides, among other things:

• $5 million of additional term-loan funding.
• Extension of the Credit Agreement maturity to January 15, 2027.
• Issuance of a new Convertible Promissory Note, providing for the conversion, at Perceptive's election, of up to $60 million of the existing term-loan into the Company's American Depositary Shares ("ADS") at the greater of a) 97% of the Volume Weighted Average Price ("VWAP") at the time of conversion and b) a floor price of $1.03.
• Conversions subject to a 9.9% beneficial ownership cap.

Conversion Rights Agreement

Trinity Biotech, certain of its subsidiaries, and Perceptive Credit Holdings II, L.P. entered into a Conversion Rights Agreement that, amongst other matters:

• Allows Perceptive to satisfy a $5 million milestone payment obligation undertaken in connection with the acquisition of its continuous glucose monitoring solution ("CGM") assets through the optional conversion of the cash payment into ADSs at the greater of a) 97% of VWAP at the time of conversion and b) a floor price of $1.03.
• Terminates up to $15 million of contingent acquisition consideration undertaken in connection with the acquisition of its CGM assets in exchange for a $7.5 million payment, convertible into the Company's ADSs, at Perceptive's election at the greater of a) 97% of VWAP at the time of conversion and b) a floor price of $1.03.
• Conversions subject to the 9.9% beneficial ownership cap.