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Article: Report from Europe.
- Article from:
- Diagnostics & Imaging Week
- Article date:
- July 17, 2003
CopyrightCOPYRIGHT 2003 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Report from Europe
Trinity Biotech raises $20M to continue acquisition plan
A Diagnostics & Imaging Week Staff Report
Irish diagnostics firm Trinity Biotech plc (Bray, Ireland) joined the summer funding spree, raising $20 million in a private placing of convertible notes with three undisclosed U.S. institutions.
The notes, which bear interest at 3% a year, have a final maturity date of Jan. 1, 2007. They are convertible at any time into Trinity stock at $3.55 per share, which represents a 22% premium to the companys average closing share price for the preceding 30 days. Rodman & Renshaw acted as placement agent on the transaction.
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