Business
TriSalus Life Sciences Announces Commencement of Exchange Offer and Consent Solicitation Relating to Series A Convertible Preferred Stock to Streamline Capital Structure
WESTMINSTER, Colo., June 23, 2025--TriSalus Life Sciences® Inc. (Nasdaq: TLSI), a company working to improve outcomes for patients with solid tumors by combining innovative drug delivery, current on-market therapeutics and immunotherapy ("TriSalus" or the "Company"), today announced that it has commenced an exchange offer and consent solicitation involving its Series A Convertible Preferred Stock (the "Preferred Stock") identified in the Prospectus/Offer to Exchange (as defined below).
About this update from Trisalus Life Sciences, Inc.
[{"type":"text","content":"WESTMINSTER, Colo., June 23, 2025--(BUSINESS WIRE)--TriSalus Life Sciences® Inc. (Nasdaq: TLSI), a company working to improve outcomes for patients with solid tumors by combining innovative drug delivery, current on-market therapeutics and immunotherapy ("TriSalus" or the "Company"), today announced that it has commenced an exchange offer and consent solicitation involving its Series A Convertible Preferred Stock (the "Preferred Stock") identified in the Prospectus/Offer to Exchange (as defined below).","length":537,"tagName":"p"},{"type":"text","content":"TriSalus is committed to simplifying its capital structure and reducing the potential impact of dilution from its Preferred Stock. By exchanging outstanding shares of Preferred Stock for common stock, the Company eliminates complex capital layers and potential preferential claims, providing investors with a clearer view of the Company’s equity value and improving transparency around ownership.","length":396,"tagName":"p"},{"type":"text","content":"What’s Being Offered","length":20,"tagName":"p"},{"type":"text","content":"TriSalus is offering all holders of outstanding shares of Preferred Stock the chance to exchange their shares for common stock. Each share of Preferred Stock can be exchanged for common stock based on the total value it would accrue (including dividends through August 10, 2027), divided by $4.00 per share.","length":307,"tagName":"p"},{"type":"text","content":"In total, TriSalus is offering up to 11,860,206 shares of common stock to complete the exchange.","length":96,"tagName":"p"},{"type":"text","content":"Consent Solicitation: Proposed Change to Preferred Stock Terms","length":62,"tagName":"p"},{"type":"text","content":"Along with the exchange offer, TriSalus is asking preferred shareholders to approve an amendment to the Certificate of Designations of the Preferred Stock. If approved, this amendment would allow the Company to automatically convert all remaining Preferred Stock into common stock after the offer closes, based on a slightly lower exchange ratio (11.3% less than the current offer).","length":382,"tagName":"p"},{"type":"text","content":"Investors holding approximately 55% of the outstanding Preferred Stock have previously agreed to exchange their shares and approve the proposed changes pursuant to tender and suppor...