secwatch.observer — SEC 8-K summary
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Issuer:     TriSalus Life Sciences, Inc. (TLSI)
CIK:        0001826667
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001104659-24-055007
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TriSalus Life Sciences secures up to $50M debt financing from OrbiMed; $25M funded at close
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826667/000110465924055007/0001104659-24-055007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826667/000110465924055007/tm2413063d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-055007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer