Trisalus Life Sciences (TLSI) Registration Filing summary

Company overview and business model

• Focuses on oncology, integrating innovative delivery technology with standard-of-care therapies and investigational immunotherapeutic nelitolimod for solid tumors.

• Technology addresses high intratumoral pressure and off-target delivery, aiming to improve therapeutic outcomes in liver, pancreas, and other solid tumors.

• Operates as an emerging growth and smaller reporting company, leveraging scaled disclosure and compliance exemptions.

Financial performance and metrics

• Accessed a five-year senior secured credit facility of up to $50 million, with $25 million drawn initially and $10 million in a second tranche as of February 18, 2025.

• Up to $15 million remains available for borrowing by December 31, 2025, contingent on revenue requirements.

• Interest on the loan facility accrues at SOFR or 4.00% (whichever is higher) plus 8.50%, with options for payment-in-kind interest for the first 15 months.

Use of proceeds and capital allocation

• No proceeds from the resale of shares by selling securityholders; proceeds from warrant exercises (if for cash) will go to the company.

• Proceeds from the credit facility are used for general corporate purposes and to support business growth.