MedTech Acquisition Corporation (NASDAQ:MTAC) announced this afternoon that it has completed its business combination with drug developer TriSalus Life Sciences.
The deal was initially approved by shareholders at a special meeting held on August 8. A further 890,499 shares were redeemed in the vote, which reduced the SPAC’s trust by $9.4 million, leaving about $2.6 million remaining.
Funds generated in connection to the merger with MedTech, including the proceeds from the recently concluded private placement transaction as well as the funds in the SPAC’s trust, in combination with the available cash on hand, provides a cash runway to support Trisalus’ essential milestones through mid-2024.
TriSalus’ common stock and warrants are now expected to start trading on the Nasdaq under the ticker symbols “TLSI” and “TLSIW,” respectively, on August 11.
MedTech initially announced its $234 million combination with TriSalus Life Sciences in November. Denver-based TriSalus is developing a range of cancer treatments that utilize the company’s approved and commercialized medical device
TriSalus plans to have Phase 1 efficacy data for a trial involving multiple doses of its SD-101 candidate in the second half of this year. In April, TriSalus presented clinical data from its Phase I trials using doses of varying size, which indicated positive results in reducing tumor growth in liver cancer patients.
The company’s new board of directors consists of Mats Wahlstrom, Mary Szela, Sean Murphy, Kerry Hicks, Dr. Anil Singhal, Dr. Andrew C. von Eschenbach, Kelly Martin, David J. Matlin and Dr. Arjun (“JJ”) Desai.
Twin Ridge (NYSE:TRCA) announced this afternoon that it plans to convene and then adjourn its extraordinary general meeting of its shareholders originally to be held on September 26 at 11:30 a.m., Eastern Time. Twin Ridge intends to hold the new meeting at 11:30 a.m., Eastern Time, on October 3, 2023. Additional details were not given as to...
Social Leverage Acquisition Corp I (Nasdaq: SLAC) and W3BCLOUD Holdings Inc. announced this afternoon that they have mutually agreed to terminate their business combination agreement. The reasons cited were once again “due to existing market conditions”, which most likely implies the current capital market conditions as well as the fact that W3BCLOUD works within the...
Hainan Sirius Acquisition Corp. (NASDAQ:HSAC) filed an S-1 this week to become September’s first new SPAC and the 20th overall to file in 2023. The SPAC aims to combine with a company operating in a sizable market with cutting edge disruptive technology that is scalable with near-term cashflow in sight. That is fairly broad and...
Graf Acquisition Corp. IV (NYSE:GFOR) announced in an 8-K this afternoon that it has come to a forward purchase agreement (FPA) with Meteora Capital Partners involving up to 2,500,000 shares for its combination with NKGen Biotech. Meteora is to purchase up to that amount on the open market prior to close, capped at 9.9% of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Heard on the Street: VinFast’s SPAC Backers Are Backing Out Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month....