Perceptive Advisors Amends Trinity Biotech Stake

TL;DR

Perceptive Advisors just updated their Trinity Biotech filing - something's up.

AI Summary

Perceptive Advisors LLC, along with its affiliates Joseph Edelman and Perceptive Credit Holdings, has amended its Schedule 13D filing concerning Trinity Biotech plc. The filing, dated May 1, 2024, indicates a change in beneficial ownership of Trinity Biotech's Class 'A' Ordinary Shares. The specific percentage or number of shares held is not detailed in this excerpt, but the amendment suggests a shift in their investment strategy or holdings.

Why It Matters

This amendment signals a potential shift in the ownership structure or investment strategy of a significant shareholder in Trinity Biotech, which could influence the company's future direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased volatility or strategic shifts for the company.

Key Players & Entities

• Perceptive Advisors LLC (company) — Filing entity
• Trinity Biotech plc (company) — Subject company
• Joseph Edelman (person) — Group member
• Perceptive Credit Holdings II, L.P. (company) — Group member
• Perceptive Credit Holdings III, L.P. (company) — Group member
• Alexander Rakitin (person) — Contact person for Perceptive Advisors LLC

FAQ

Key Financial Figures

• $0.0109 — e of Issuer) Class A Ordinary Shares, $0.0109 par value per share (Title of Class o

Filing Documents

• d791149dsc13da.htm (SC 13D/A) — 95KB
• d791149dex995.htm (EX-99.5) — 8KB
• 0001193125-24-127597.txt ( ) — 106KB

of the Schedule 13D is amended and supplemented as follows

Item 2 of the Schedule 13D is amended and supplemented as follows: (a) This Amendment No. 1 to the Schedule 13D is being filed by Perceptive Advisors LLC ( Perceptive Advisors or Perceptive ), Perceptive Credit Advisors LLC ( Perceptive Credit Advisors ), Joseph Edelman ( Mr. Edelman ), Perceptive Credit Holdings II, L.P. ( Credit Fund II ) and Perceptive Credit Holdings III, L.P. ( Credit Fund III , and together with Perceptive Advisors, Perceptive Credit Advisors, Mr. Edelman and Credit Fund II, each of the foregoing, a Reporting Person, and collectively, the Reporting Persons ). Perceptive Credit Advisors serves as the investment advisor to each of Credit Fund II and Credit Fund III and as relying advisor under Perceptive Advisors. Perceptive Credit Opportunities GP, LLC is the general partner of each of Credit Fund II and Credit Fund III. Mr. Edelman is the managing member of Perceptive Credit Advisors. The agreement among the Reporting Persons to jointly file this Amendment No. 1 to the Schedule 13D in accordance with Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended, is attached hereto as Exhibit 5. (b) The address of the principal business office of each of the Reporting Persons is 51 Astor Place 10th Floor, New York, NY 10003. (c) The principal business of Perceptive Advisors is managing funds in connection with purchasing, holding and selling securities for investment purposes. The principal business of Perceptive Credit Advisors is managing funds engaged in lending. The principal business of each of Credit Fund II and Credit Fund III are to engage in lending. The principal occupation of Mr. Edelman is as the managing member of Perceptive Advisors and other related entities. (d) During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of the Reporting Persons has been a party to a civil proce

of the Schedule 13D is amended and supplemented as follows

Item 4 of the Schedule 13D is amended and supplemented as follows: The information contained in Item 6 to this Amendment No. 1 to the Schedule 13D is incorporated by reference to this Item 4. Item5. Interest in Securities of the Issuer

of the Schedule 13D is amended and supplemented as follows

Item 5 of the Schedule 13D is amended and supplemented as follows: (a) The information set forth in rows 11 and 13 of the cover pages to this Amendment No. 1 to the Schedule 13D is incorporated by reference and give effect to the Issuers five-for-one reverse ADS split effected on February 23, 2024 (the Reverse ADS Split). The percentage set forth in row 13 is based on 189,310,282 Ordinary Shares outstanding as of April 30, 2024, as reported in the Issuers Registration Statement on Form F-3 filed with the SEC on April 30, 2024, and, with respect to Credit Fund III, assumes the exercise of the 1,000,000 Warrants held by Credit Fund III into 1,000,000 ADSs representing 20,000,000 Ordinary Shares. (b) The information set forth in rows 7 through 10 of the cover pages to this Amendment No. 1 to the Schedule 13D is incorporated by reference and give effect to the Reverse ADS Split. (c) Except for those transactions previously reported on the Schedule 13D, the Reporting Persons have not effected any transactions in the Ordinary Shares of the Issuer in the past 60-days. (d) No person other than the Reporting Persons disclosed in this Amendment No. 1 to the Schedule 13D is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock subject to this Schedule 13D. (e) Not applicable. Item6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

of the Schedule 13D is amended and supplemented as follows

Item 6 of the Schedule 13D is amended and supplemented as follows: On April 30, 2024, the Issuer filed a Registration Statement on Form F-3 registering for resale an aggregate of 2,800,000 ADSs representing 56,000,000 Ordinary Shares held by the Reporting Persons, consisting of the 1,800,000 ADSs representing 36,000,000 Ordinary Shares held by Credit Fund II and the 1,000,000 ADSs representing 20,000,000 Ordinary Shares underlying the Warrants held by Credit Fund III. Item7. Material to be Filed as Exhibits

of the Schedule 13D is amended and supplemented as follows

Item 7 of the Schedule 13D is amended and supplemented as follows: Exhibit 5Joint Filing Agreement.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: May 1, 2024 PERCEPTIVE ADVISORS LLC By: /s/ Joseph Edelman Name: Joseph Edelman Title: Managing Member PERCEPTIVE CREDIT ADVISORS LLC By: /s/ Joseph Edelman Name: Joseph Edelman Title: Managing Member /s/ Joseph Edelman JOSEPH EDELMAN PERCEPTIVE CREDIT HOLDINGS II, L.P. By: Perceptive Credit Opportunities GP, LLC, its general partner By: /s/ Joseph Edelman Name: Joseph Edelman Title: Managing Member PERCEPTIVE CREDIT HOLDINGS III, L.P. By: Perceptive Credit Opportunities GP, LLC, its general partner By: /s/ Joseph Edelman Name: Joseph Edelman Title: Managing Member

View Full Filing

View this SC 13D/A filing on SEC EDGAR