Trisalus Life Sciences, Inc. current report, 28 January 2022

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Filing Overview

Registrant: MedTech Acquisition Corporation, a special purpose acquisition company; the request identifies Trisalus Life Sciences, Inc., but the filing names MedTech Acquisition Corporation as the registrant.

Report date: January 28, 2022. The filing reports entry into a material financing arrangement and creation of a direct financial obligation.

Material Financing Arrangement

  • The company issued an unsecured promissory note to its sponsor, MedTech Acquisition Sponsor LLC.
  • The note has a principal amount of up to $400,000.
  • $75,000 was funded upon execution, with additional amounts available upon the company’s request before maturity.
  • The note bears no interest.
  • The note matures upon closing of the company’s initial business combination.
  • Proceeds are intended for working capital purposes.

Financial Metrics and Liquidity

The filing does not provide revenue, profit, cash flow, margins, debt ratios, total liquidity, or other operating financial metrics. It identifies the sponsor note as a new unsecured working-capital obligation, with $75,000 funded and up to $325,000 potentially available for further draws.

Changes, Outlook, and Risks

  • The principal material change is the creation of the sponsor-financed promissory note.
  • The filing provides no operating guidance or forecast.
  • Repayment is linked to the closing of the initial business combination; the filing text does not clarify repayment terms if the transaction is not completed.
  • Because the note is unsecured and non-interest-bearing, its principal impact is an increase in obligations and available working-capital funding rather than an interest expense burden.

Investor Verification Items

  • Review Exhibit 10.1 for the complete terms of the promissory note, including drawdown mechanics, repayment provisions, and any default terms.
  • Verify the amount ultimately drawn under the $400,000 commitment.
  • Confirm the status and expected timing of the initial business combination, which determines the stated maturity date.
  • Reconcile the filing’s registrant, MedTech Acquisition Corporation, with any proposed or completed transaction involving Trisalus Life Sciences, Inc.