TriSalus Life Sciences reports a beneficial ownership filing showing 5,374,117 shares held by First Light Asset Management, LLC and Mathew P. Arens, representing 8.75% of the company’s common stock as stated in Item 4.
The filing is a joint Schedule 13G disclosing shared voting and dispositive power of 5,374,117 shares by both the Manager and Mr. Arens; the filing identifies the Manager as investment adviser to accounts and private funds and notes Mr. Arens’ control of the Manager.
Positive
None.
Negative
None.
Insights
Joint disclosure shows one investor group controls 5,374,117 shares (8.75%).
The filing lists First Light Asset Management, LLC and Mathew P. Arens as joint reporting persons with shared voting and dispositive power over 5,374,117 shares. The Manager acts as an adviser to separately managed accounts and private funds, which explains the shared holdings structure.
Ownership is presented as a static beneficial-ownership snapshot; subsequent Form 13 filings will show any material changes. Cash-flow treatment and any sale intentions are not disclosed in the provided excerpt.
Disclosure clarifies control relationships rather than directly altering governance.
The filing attributes shared voting and dispositive powers to the Manager and to Mr. Arens through his role as managing member and majority owner. The joint filing agreement is included as Exhibit A, documenting the coordinated disclosure.
Proxy or governance impacts depend on whether shared holdings are voted collectively; the excerpt does not state any voting commitments or plans to change board composition.
Key Figures
Reported shares beneficially owned:5,374,117 sharesPercent of class:8.75%Sole voting power:0 shares+2 more
Sole voting power0 sharesItem 4(i) reported for both reporting persons
Shared voting power5,374,117 sharesItem 4(ii) reported for both reporting persons
Reporting period / header date03/31/2026Header date in the filing excerpt
Key Terms
Schedule 13G, beneficial owner, shared dispositive power
3 terms
Schedule 13Gregulatory
"This is a joint <b>Schedule 13G</b> filing disclosing beneficial ownership"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
beneficial ownerregulatory
"The Manager may be deemed to be the <b>beneficial owner</b> of 5,374,117 of the Issuer's shares"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
shared dispositive powerregulatory
"Shared Dispositive Power 5,374,117.00 reported in Item 4"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
TriSalus Life Sciences, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
89680M101
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
89680M101
1
Names of Reporting Persons
First Light Asset Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,374,117.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,374,117.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,374,117.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.75 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
89680M101
1
Names of Reporting Persons
Mathew P. Arens
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,374,117.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,374,117.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,374,117.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.75 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
TriSalus Life Sciences, Inc.
(b)
Address of issuer's principal executive offices:
6272 W. 91st Ave., Westminster, CO 80031
Item 2.
(a)
Name of person filing:
This Schedule 13G is jointly filed by the following:
First Light Asset Management, LLC (the "Manager")
Mathew P. Arens ("Mr. Arens")
The Manager may be deemed to be the beneficial owner of 5,374,117 of the Issuer's shares of common stock (the "Shares"). The Manager acts as an investment adviser to certain persons holding separately managed accounts with the Manager, each of whom has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, those shares. The Manager may also be deemed to be the beneficial owner of these shares because it acts as an investment adviser to certain private funds. Mr. Arens may also be deemed to be the beneficial owner of these shares because he controls the Manager in his position as managing member and majority owner of the Manager. The Manager and Mr. Arens are filing this Schedule 13G/A with respect to these Shares pursuant to Rule 13d-1(b) under the Act.
The Manager and Mr. Arens may be deemed to be the beneficial owner of the total amount of Shares set forth across from its or his respective name in Item 4 below. The filing of this Schedule 13G shall not be construed as an admission that the reporting persons or any of their affiliates are the beneficial owner of any securities covered by this Schedule 13G for any other purposes other than Section 13(d) of the Securities Exchange Act of 1934.
(b)
Address or principal business office or, if none, residence:
Each of the reporting persons identified in Item 2(a) has its principal business office at:
3300 Edinborough Way, Suite 201, Edina, MN 55435
(c)
Citizenship:
First Light Asset Management, LLC - Delaware limited liability company
Mathew P. Arens - United States citizen
(d)
Title of class of securities:
Common Stock, $0.01 par value
(e)
CUSIP Number(s):
89680M101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
First Light Asset Management, LLC - 5,374,117
Mathew P. Arens - 5,374,117
(b)
Percent of class:
First Light Asset Management, LLC - 8.75%
Mathew P. Arens - 8.75%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
First Light Asset Management, LLC - 0
Mathew P. Arens - 0
(ii) Shared power to vote or to direct the vote:
First Light Asset Management, LLC - 5,374,117
Mathew P. Arens - 5,374,117
(iii) Sole power to dispose or to direct the disposition of:
First Light Asset Management, LLC - 0
Mathew P. Arens - 0
(iv) Shared power to dispose or to direct the disposition of:
First Light Asset Management, LLC - 5,374,117
Mathew P. Arens - 5,374,117
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does First Light Asset Management hold in TriSalus (TLSI)?
First Light Asset Management reports beneficial ownership of 5,374,117 shares, equal to 8.75% of TriSalus common stock. The filing attributes shared voting and dispositive power for that full share count to the Manager in Item 4.
Why is Mathew P. Arens listed alongside First Light Asset Management?
Mr. Arens is listed because he controls the Manager as managing member and majority owner. The filing states he may be deemed beneficial owner of the same 5,374,117 shares and reports identical shared voting and dispositive powers.
Does this Schedule 13G show sole voting control over TLSI shares?
No. Item 4 reports 0 shares of sole voting power for both reporting persons and 5,374,117 shares of shared voting power, indicating joint control rather than sole voting authority.
Does the filing state any intended sale or purchase by the reporting persons?
The excerpt does not disclose purchase or sale intentions. It states the Manager acts as adviser to accounts and private funds and reports beneficial ownership; no transaction plans or cash-flow treatment appear in the provided text.
