TriSalus Life Sciences, Inc. (TLSI): debt financing — TriSalus Life Sciences secures up to $50M debt financing from OrbiMed; $25M funded at close

TriSalus Life Sciences, Inc.

$25M funded on April 30, 2024; up to $25M additional available in two tranches subject to revenue thresholds.
Loan matures April 2029; interest rate is SOFR plus 8.50% (floor 4% SOFR); initial 15 months may accrue up to 3.5% PIK interest.
Issued OrbiMed warrant to purchase 130,805 shares at $9.5562; also registration rights agreement filed.
Company expects cash runway through 2025, targeting break-even EBITDA for TriNav business in 2025.
Covenants require minimum unrestricted cash of $5M (before March 31, 2025) and $10M thereafter.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TriSalus Life Sciences, Inc. incurred credit facility of $25 million with OrbiMed Royalty & Credit Opportunities IV, LP at SOFR plus 8.50% maturing April 30, 2029.

Instrument: credit facility
Principal: $25 million
Counterparty: OrbiMed Royalty & Credit Opportunities IV, LP
Rate: SOFR plus 8.50%
Maturity: April 30, 2029
Event: incurrence

Exact text from the filing

On April 30, 2024, the Borrower borrowed the Initial Commitment Amount, resulting in gross proceeds to the Borrower of $25 million.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TriSalus Life Sciences, Inc. entered into Credit Agreement with OrbiMed Royalty & Credit Opportunities IV, LP valued at Up to $50 million senior secured credit facility, $25 million initial borrowing on April 30, 2024, $ (effective 2024-04-30).

Action: entry
Agreement: credit facility
Counterparty: OrbiMed Royalty & Credit Opportunities IV, LP
Value: Up to $50 million senior secured credit facility, $25 million initial borrowing on April 30, 2024, $
Effective: 2024-04-30

Exact text from the filing

On April 30, 2024 (the “ Closing Date ”), TriSalus Life Sciences, Inc., a Delaware corporation (the “ Company ”) and TriSalus Operating Life Sciences, Inc., a Delaware corporation and wholly owned subsidiary of the Company (the “ Borrower ”) entered into a Credit Agreement (the “ Credit Agreement ”), by and between the Company, as parent, the Borrower, as borrower, OrbiMed Royalty & Credit Opportunities IV, LP, a Delaware limited partnership (the “ Initial Lender ”), as a lender, and each other lender that may from time to time become a party thereto (each, including the Initial Lender, and together with their affiliates, successors, transferees and assignees, the “ Lenders ”), and OrbiMed Royalty & Credit Opportunities IV, LP, as administrative agent for the Lenders (in such capacity, the “ Administrative Agent ”).

View on SEC.gov

312 debt financings filed in the last 30 days. Browse all debt financings →

TriSalus Life Sciences, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-055007

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.