MedTech Acquisition Corporation (Nasdaq: MTAC) announced this afternoon that it convened and then adjourned its completion vote for its business combination with drug developer TriSalus Life Sciences.
The special meeting, initially planned for today, has been rescheduled to 11:00 a.m. ET on August 8. In connection with the adjournment, MedTech has extended the deadline for stockholders to submit their shares for redemption to 5:00 p.m. ET on August 4.
Prior to today’s meeting, MTAC filed an 8-K regarding the written response received by TriSalus from the FDA in reference to a meeting request for TriSalus’ PERIO-01 clinical program. The FDA acknowledged that early data from the program showed that TriSalus’ pressure-enabled drug delivery (PEDD) method had a tolerable safety profile and has requested further exploration of the dose before proceeding with a registrational trial.
TriSalus plans to have Phase 1 efficacy data for multiple SD-101 doses by the second half of 2023. As a result of the FDA’s responses, TriSalus expects a potential new drug application submission for SD-101 in uveal melanoma with liver metastases to likely occur beyond 2025, pending Phase 2 data.
MedTech initially announced its $234 million combination with TriSalus Life Sciences in November. Within the past few months, the parties agreed to drop the deal’s minimum cash condition to $35 million from $60 million. Additionally, the SPAC disclosed last month that it added a $17.8 million convertible share investment and a $2 million backstop to its combination with the drug developer.
Denver-based TriSalus is developing a range of cancer treatments that utilize the company’s approved and commercialized medical device. In April, TriSalus presented clinical data from its Phase I trials, which indicated positive results in reducing tumor growth in liver cancer patients.
The combined company is expected to trade on the Nasdaq under the symbol “TLSI” once the deal is completed.
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...