Business Context and Reporting Period
This Form 8-K was filed by MedTech Acquisition Corporation, not Trisalus Life Sciences, Inc. The reported event occurred on June 14, 2023, and the filing was signed June 21, 2023. MedTech is a Nasdaq-listed special purpose acquisition company.
Material Event and Key Metrics
On June 14, 2023, MedTech received a deficiency letter from Nasdaq stating that its Market Value of Listed Securities had remained below the $35 million minimum required for continued listing under Nasdaq Listing Rule 5550(b)(2) for 30 consecutive business days.
- The notice had no immediate effect on the listing or trading of the company’s securities.
- Nasdaq granted the company 180 calendar days, through December 11, 2023, to regain compliance.
- Compliance may be restored if the company’s MVLS closes at or above $35 million for at least 10 consecutive business days during the compliance period.
The filing does not provide revenue, profit, cash flow, margin, debt, liquidity, or other operating financial metrics.
Outlook, Risks, and Unusual Items
Management stated that it intends to monitor the market value of its listed securities and may consider available options to regain compliance. Continued failure to satisfy the MVLS Requirement could place the company’s Nasdaq listing at risk after the compliance period, subject to Nasdaq’s rules and any available appeal or compliance remedies.
Investor Verification Items
- Verify that this filing relates to MedTech Acquisition Corporation rather than Trisalus Life Sciences, Inc.
- Verify whether MedTech regained compliance by December 11, 2023, or obtained an extension or other relief.
- Review subsequent filings for any reverse split, transaction, financing, business combination, or other action intended to increase market value or preserve the Nasdaq listing.
- Confirm the company’s current listing status and the applicable Nasdaq market-value requirement.