MedTech Acquisition in an 8-K said shareholders voted in favor of merging with TriSalus Life Sciences, a privately held oncology therapeutics company integrating immunotherapy with disruptive delivery technology to transform the treatment paradigm for patients with liver and pancreatic cancer.
The vote was overwhelmingly in support of the busines combination with 7,135,003 shares in favor and 19,016 against.
However, the SPAC also disclosed that 890,499 shares were redeemed, removing about $9.42 million from the trust account.
That left MedTech with about $2.6 million in trust, most of which was likely due to a backstop the SPAC secured in June. MedTech also has a subscription agreement for nearly $18 million in convertible preferred stock.
The SPAC indicated that the business combination is expected to close following the satisfaction or — potential waiver — of the closing conditions. Once the transaction is complete, stock and warrants are expected to begin trading on the Nasdaq Global Market under the symbols TLSI and TLSIW.
