Trinity Biotech plc (NasdaqGS:TRIB) agreed to acquire CGM Assets of Waveform Technologies, Inc. on January 30, 2024. As a part of consideration Trinity Biotech plc will pay cash $12.5 million, issue 9 million American Depositary Shares and additional contingent off up to $20 million may be payable upon the occurrence of certain events, including a $5 million payment if the (i) closing price of the Company?s ADSs does not equal or exceed US$1.50 per ADS for at a least 20 consecutive trading days over the next twelve months and (ii) average daily trading volume of the Company?s ADSs does not equal or exceed 100,000 ADSs for 20 consecutive trading days over the next twelve months, and 50% of certain proceeds received by our Company (up to a maximum payment of additional consideration of $15 million) on our entering into certain commercial partnering agreements with certain insulin pump manufacturers in the next 24 months. In order to fund the acquisition, Trinity Biotech plc entered into an amended credit agreement of $22 million whereby, $12.5 million being used to acquire the Waveform assets and the remaining $9.5 million is available for general corporate purposes including for the further development of the CGM and biosensor technologies.

In addition, the Amended Term Loan provides for additional liquidity of up to $6.5 million, that may be drawn down by the Company between April and December 2024, and can be used for general corporate purposes, thereby providing further liquidity to fund the development of the CGM and biosensor technologies.