Frankenius Equity converts TriSalus preferred to common
Frankenius Equity AB, a more than 10% holder of TriSalus Life Sciences, Inc., converted its entire Series A Convertible Preferred Stock into common shares.
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Form Type
4
Rhea-AI Filing Summary
Frankenius Equity AB, a more than 10% holder of TriSalus Life Sciences, Inc., converted its entire Series A Convertible Preferred Stock into common shares. On July 31, 2025, it exchanged 230,000 preferred shares for 759,000 shares of common stock under a company exchange offer.
The offer calculates common shares using the liquidation preference of $10.00 per preferred share plus accrued and unpaid dividends through August 10, 2027, divided by a $4.00 conversion price per share. After the conversion, Frankenius Equity directly holds 6,989,748 TriSalus common shares, replacing its prior preferred position with ordinary equity.
Insider Trade Summary
230,000 shares exercised/converted
Exercise
2 txns
Insider
Frankenius Equity AB
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Convertible Preferred Stock | 230,000 | $0.00 | $0.00 |
| Conversion | Common Stock | 759,000 | $0.00 | $0.00 |
Holdings After Transaction:
Series A Convertible Preferred Stock — 0 contracts (Direct);
Common Stock — 6,989,748 shares (Direct)
Footnotes (3)
- F1. Represents shares received upon conversion of the Series A Preferred Stock (the "Preferred Stock") reported in Table II.
- F2. Represents conversion price pursuant to an offer (the "Offer") the Company commenced on June 23, 2025, under which all holders of Preferred Stock could exchange their shares of Preferred Stock for Common Stock equal to the sum of the liquidation preference per share price of $10.00 and all accrued and unpaid dividends per share outstanding through August 10, 2027, divided by a $4.00 conversion price per share.
- F3. On July 31, 2025, all 230,000 shares of Preferred Stock held by the Reporting Person were converted into 759,000 shares of Common Stock pursuant to the Offer.
Key Figures
Common shares received: 759,000 shares
Preferred shares converted: 230,000 shares
Conversion price: $4.00 per share
+4 more
7 metrics
Common shares received
759,000 shares
Common Stock received by Frankenius Equity on July 31, 2025
Preferred shares converted
230,000 shares
Series A Convertible Preferred Stock converted into common
Conversion price
$4.00 per share
Formula divisor for calculating TriSalus common shares in the offer
Liquidation preference
$10.00 per share
Preferred share liquidation preference used in the exchange formula
Common shares after transaction
6,989,748 shares
Frankenius Equity’s direct TriSalus common stock holdings post-conversion
Offer commencement date
June 23, 2025
Date TriSalus began its preferred-for-common exchange offer
Dividend accrual end date
August 10, 2027
End date for accrued and unpaid dividends in conversion formula
Key Terms
Series A Convertible Preferred Stock, conversion price, liquidation preference, accrued and unpaid dividends, +1 more
5 terms
Series A Convertible Preferred Stock financial
"Represents shares received upon conversion of the Series A Preferred Stock"
Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.
conversion price financial
"divided by a $4.00 conversion price per share"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
liquidation preference financial
"equal to the sum of the liquidation preference per share price of $10.00"
A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.
accrued and unpaid dividends financial
"and all accrued and unpaid dividends per share outstanding through August 10, 2027"
Accrued and unpaid dividends are dividend payments that a company has declared or owes to shareholders but has not yet actually paid out. For investors this matters because it represents cash they expect to receive—like a paycheck that’s been earned but not yet issued—and signals the company’s payment priorities and short-term cash health, which can affect shareholder returns and claims in cases like restructuring.
Offer financial
"pursuant to an offer (the "Offer") the Company commenced on June 23, 2025"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Frankenius Equity AB do in this TriSalus (TLSI) Form 4 filing?
Frankenius Equity AB converted all its TriSalus Series A Convertible Preferred Stock into common shares. It exchanged 230,000 preferred shares for 759,000 common shares on July 31, 2025, replacing its preferred stake with ordinary equity under a company exchange offer.
What happened to Frankenius Equity’s TriSalus (TLSI) preferred stock holdings?
All 230,000 shares of TriSalus Series A Convertible Preferred Stock held by Frankenius Equity were converted. After this transaction, its preferred stock position was reduced to zero, fully replaced by 759,000 newly issued common shares through the exchange offer.
How is the TriSalus (TLSI) preferred-to-common conversion price determined?
The conversion uses a formula based on a $10.00 liquidation preference plus accrued and unpaid dividends per preferred share through August 10, 2027. That total amount per share is divided by a $4.00 conversion price to calculate how many TriSalus common shares are issued.
What company action enabled this TriSalus (TLSI) preferred stock conversion?
The conversion occurred pursuant to an offer TriSalus commenced on June 23, 2025. Under this offer, all holders of Series A Preferred Stock could exchange their preferred shares for common stock using the specified liquidation preference and $4.00 per-share conversion formula.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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