By Sheri Kasprzak
New York, April 6 - Trinity Biotech plc said it has secured agreements for a $23,005,000 direct placement of American Depositary Shares.
Institutional investors in the United States and Europe agreed to buy 2,675,000 ADS at $8.60 each, a 4.5% discount to the company's $9.01 closing stock price on April 5.
The deal is scheduled to close April 11.
Also, Ronan O'Caoimh, the company's chief executive officer, agreed to buy 223,460 ADS at $8.95 each.
The ADS will be sold under Trinity's shelf registration.
Roth Capital Partners, LLC is the bookrunner with J&E Davy as the co-agent.
Trinity plans to use the proceeds for potential acquisitions and general corporate purposes.
Based in Dublin, Ireland, Trinity is a biotechnology company focused on developing point-of-care diagnostic products used to detect infectious diseases, sexually transmitted diseases, blood coagulation disorders and autoimmune diseases.
| Issuer: | Trinity Biotech plc
|
| Issue: | American Depositary Shares
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| Amount: | $23,005,000
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| ADS: | 2,675,000
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| Price: | $8.60
|
| Warrants: | No
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| Placement agents: | Roth Capital Partners, LLC (lead), J&E Davy
|
| Announcement date: | April 6
|
| Settlement date: | April 11
|
| Stock symbol: | Nasdaq: TRIB
|
| Stock price: | $9.51 at close April 6
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