Trinity Biotech Secures $25M Standby Equity Line at 3% VWAP Discount
Trinity Biotech secured a $25 million standby equity purchase agreement with Yorkville Advisors, allowing sale of new ADS over 36 months at up to a 3% VWAP discount. This funding will support HIV test commercialization and R&D on CGM+ platform following $48.6 million revenue in the last 12 months.
1. Financing Agreement Details
Under the SEPA, Trinity Biotech may sell up to $25 million of newly issued ADS over a 36-month period at pricing set at 97% of the lowest daily VWAP during a three-day period or 95% of one-day VWAP. Issuances are subject to trading volume limitations and a 4.99% beneficial ownership cap, providing flexible, discretionary access to capital without obligation to draw.
2. Strategic R&D and Commercialisation
The agreement underpins expansion of HIV diagnostic commercialisation, leveraging recent strength in Uni-Gold revenues and WHO-approved TrinScreen production, and accelerates development of CGM+, its next-generation continuous glucose monitoring platform. CGM+ recently achieved elimination of finger-stick calibration in August 2025 trials, de-risking its commercial pathway and enabling a lower-waste, cost-efficient sensor.
3. Financial Background and Outlook
In the trailing 12 months ended September 30, 2025, Trinity Biotech reported $48.6 million in revenue, driven by renewed global HIV testing demand. The company expects continued margin improvement in 2026 through international procurement normalization and operational efficiencies under its Comprehensive Transformation Plan.