MedTech Acquisition in an 8-K said on June 7 it added stock purchase agreements totalling $17,855,020. This followed the July 4 subscription agreements for the purchase of $22,295,000 in stock.
The sale of the Series A Convertible Preferred Stock will close with the completion of the SPAC's pending merger with Trisalus Life Sciences.
The target is a privately held oncology therapeutics company integrating immunotherapy with disruptive delivery technology to transform the treatment paradigm for patients with liver and pancreatic tumors.
MedTech added $18 million to the pipe last month.
If approved, at closing the combined company expects to have at least $60 million in cash, which assumes “significant redemptions,” according to the press release announcing the deal in November. Cash at closing includes up to $50 million from a convertible note for which MedTech and TriSalus have entered into a non-binding term sheet with an institutional investor. Read more.