MTAC - MedTech Acquisition signs SPAC merger deal with TriSalus Life Sciences

• SPAC MedTech Acquisition ( NASDAQ: MTAC ) has agreed to take a privately held oncology therapeutics company, TriSalus Life Sciences, public in a reverse merger deal valued at $244.4M.
• TriSalus Life Sciences is focused on integrating immunotherapy with disruptive delivery technology for patients with liver and pancreatic tumors. In 2021, TriSalus Life Sciences reported $8.4M in net sales and reaffirms it is on track to achieve $12.6M in 2022.
• The definitive merger deal that medical technology-focused blank check company has signed represents a post-transaction market capitalization of approximately $244.4M for TriSalus.
• 7 members of TriSalus and 2 of MedTech will take the 9 seats at Board, the company further told, while the transaction is unanimously approved by the Boards of Directors of both TriSalus and MedTech.
• Transaction is expected to close in Q1 2023.
• Upon completion, TriSalus Life Sciences expects to have at least $60M in cash, including up to $50M from a convertible note for which MedTech and the company have entered into a non-binding term sheet with a leading institutional investor.
• The announcement follows previous MedTech SPAC deal with Memic Innovation Surgery, which was called off on market volatility and macro reasons in March 2022.

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