TriSalus Life Sciences Files for IPO

TL;DR

TriSalus Life Sciences is going public, filing its S-1 with $176M in assets and a $14M net loss.

AI Summary

TriSalus Life Sciences, Inc. filed an S-1 form on June 14, 2024, to register its securities for an initial public offering. The company, formerly known as MedTech Acquisition Corp., is based in Westminster, Colorado, and operates in the surgical and medical instruments sector. The filing indicates a significant number of outstanding shares and preferred stock, with financial data points such as $176,329,000 in total assets and $14,075,524 in net loss for the period ending March 31, 2024.

Why It Matters

This S-1 filing marks TriSalus Life Sciences' intention to go public, potentially bringing new investment and visibility to the medical device sector.

Risk Assessment

Risk Level: medium — The company has experienced a net loss, and the S-1 filing is a preliminary step in the IPO process, which carries inherent market risks.

Key Numbers

• $176.3M — Total Assets (As of March 31, 2024, indicating the company's asset base.)
• $14.1M — Net Loss (For the period ending March 31, 2024, highlighting current profitability.)
• 26,413,213 — Total Shares Outstanding (As of March 31, 2024, relevant for IPO valuation.)

Key Players & Entities

• TriSalus Life Sciences, Inc. (company) — Filer of the S-1 registration statement
• MedTech Acquisition Corp. (company) — Former name of TriSalus Life Sciences, Inc.
• Westminster, Colorado (location) — Business address of TriSalus Life Sciences, Inc.
• 3841 (industry_code) — Standard Industrial Classification for Surgical & Medical Instruments & Apparatus
• 0001826667 (cik) — Central Index Key for TriSalus Life Sciences, Inc.
• $176,329,000 (dollar_amount) — Total assets as of March 31, 2024
• $14,075,524 (dollar_amount) — Net loss for the period ending March 31, 2024

FAQ

Key Financial Figures

• $0.0001 — to 130,805 shares of our common stock, $0.0001 par value per share ("Common Stock"), i
• $5.96 — ted sales price of our Common Stock was $5.96 per share. We are an "emerging growth
• $25,000,000 — d Draw Commitment Amounts " means up to $25,000,000 in senior secured term debt, of which (
• $10,000,000 — r secured term debt, of which (i) up to $10,000,000 will be made available to us on or prio
• $15,000,000 — r prior to June 30, 2025 and (ii) up to $15,000,000 will be made available to us on or prio
• $25,000,000 m — " Initial Commitment Amount " means the $25,000,000 made available to us on the OrbiMed Closi
• $11 — is exercisable, at an exercise price of $11.50, for one share of Common Stock, in a
• $10.00 — Preferred Stock at a purchase price of $10.00 per share, resulting in an aggregate pu
• $40,150,020 — lting in an aggregate purchase price of $40,150,020. " Subsequent OrbiMed Warrants " means
• $700 million — eld by non-affiliates equals or exceeds $700 million as of the end of that year's second fis
• $1.235 billion — h we have total annual gross revenue of $1.235 billion or more during such fiscal year (as ind
• $1.0 billion — date on which we have issued more than $1.0 billion in non-convertible debt in the prior th
• $250 million — on stock held by non-affiliates exceeds $250 million as of the end of that year's second fis
• $100 million — r, or (ii) our annual revenues exceeded $100 million during such completed fiscal year and t

Filing Documents

• tlsi-20240331xs1.htm (S-1) — 4724KB
• tlsi-20240331xex5d1.htm (EX-5.1) — 14KB
• tlsi-20240331xex23d1.htm (EX-23.1) — 3KB
• tlsi-20240331xexfees.htm (EX-FILING FEES) — 23KB
• tlsi-20240331xs1002.jpg (GRAPHIC) — 8KB
• tlsi-20240331xex5d1001.jpg (GRAPHIC) — 4KB
• 0001104659-24-071480.txt ( ) — 19502KB
• tlsi-20240331.xsd (EX-101.SCH) — 120KB
• tlsi-20240331_cal.xml (EX-101.CAL) — 113KB
• tlsi-20240331_def.xml (EX-101.DEF) — 535KB
• tlsi-20240331_lab.xml (EX-101.LAB) — 824KB
• tlsi-20240331_pre.xml (EX-101.PRE) — 933KB
• tlsi-20240331xs1_htm.xml (XML) — 3094KB

USE OF PROCEEDS

USE OF PROCEEDS 61 DETERMINATION OF OFFERING PRICE 61 MARKET INFORMATION FOR SECURITIES AND DIVIDEND POLICY 62

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 63 OUR BUSINESS 80 MANAGEMENT 111

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 123 EQUITY COMPENSATION PLAN INFORMATION 135 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 136 PRINCIPAL SECURITYHOLDERS 141 SELLING SECURITYHOLDER 144 DESCRIPTION OF OUR SECURITIES 147 MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES 157 PLAN OF DISTRIBUTION 161 LEGAL MATTERS 163 EXPERTS 163 CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 163 WHERE YOU CAN FIND MORE INFORMATION 165 INDEX TO FINANCIAL STATEMENTS F-1 You should rely only on the information contained in this prospectus, any supplement to this prospectus or in any free writing prospectus, filed with the Securities and Exchange Commission (the " SEC "). Neither we, nor the Selling Securityholder, have authorized anyone to provide you with additional information or information different from that contained in this prospectus filed with the SEC. We take no responsibility for and can provide no assurance as to the reliability of, any other information that others may give you. The Selling Securityholder is offering to sell, and seeking offers to buy, our securities only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or any sale of our securities. Our business, financial condition, results of operations and prospects may have changed since that date. For investors outside of the United States: Neither we, nor the Selling Securityholder, have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of our securities and the distribution of this prospectus outside the United States. i Ta

View Full Filing

View this S-1 filing on SEC EDGAR