04:44 AM EDT, 05/01/2024 (MT Newswires) -- TriSalus Life Sciences ( TLSI ) said late Tuesday it has closed a debt financing facility for up to $50 million with healthcare investment firm OrbiMed.

The company plans to use the capital for its strategic expansion goals and continued growth.

Under the five-year credit agreement that matures in April 2029, the company borrowed $25 million at closing and also has up to an additional $25 million available in two tranches at its discretion, based on the achievement of certain revenue thresholds.

The company issued OrbiMed a warrant to buy 130,805 shares of its common stock, with an exercise price of $9.5562.