TriSalus Life Sciences® today announced a definitive merger agreement with MedTech Acquisition.
If approved, the combined company is expected to list on the Nasdaq under the ticker TLSI. The transaction represents a post-transaction market capitalization of approximately $244.4 million for TriSalus.
The target is a privately held oncology therapeutics company integrating immunotherapy with disruptive delivery technology to transform the treatment paradigm for patients with liver and pancreatic tumors. TriSalus has raised about $170 million in venture funding from backers including Tullis Health Investors.
At closing, the combined company expects to have at least $60 million in cash, which assumes “significant redemptions,” according to the press release announcing the deal. Cash at closing includes up to $50 million from a convertible note for which MedTech and TriSalus have entered into a non-binding term sheet with an institutional investor.
Cooley is legal counsel to TriSalus. Raymond James is acting as exclusive financial advisor to MedTech and as the sole placement agent on the convertible offering, and Paul Hastings is legal counsel to the placement agent. Foley & Lardner is legal counsel to MedTech. Read more.
