Carter Ledyard represented long-time client, Trinity Biotech plc (Nasdaq: TRIB), a leading global diagnostic company, in the Company’s $45 million strategic investment and partnership with MiCo Ltd (“MiCo”) that closed on May 3, 2022. MiCo, a KOSDAQ-listed and Korea-based company, is engaged in the biomedical business through its affiliate MiCo BioMed. In addition to approximately $25 million of newly issued equity, the Company issued a seven-year, unsecured junior convertible note in the amount of $20 million, with a fixed interest rate of 1.5% and an ADS conversion price of $3.24 per ADS. Following the investment, MiCo will hold 29.9% of the voting share capital of the Company.
Co-Chair of Carter Ledyard’s Corporate Practice Group, Steven Glusband, led the deal and was supported by counsel Mary Brown.