Financial Performance - The company reported a net loss of $372,034 for the three months ended March 31, 2021, consisting of operating costs of $307,992 and a change in fair value of warrant liability of $98,666, offset by interest income of $34,624[93]. - Cash used in operating activities for the three months ended March 31, 2021, was $205,848, with changes in operating assets and liabilities providing $102,144 of cash[97]. - The company has not generated any operating revenues to date and does not expect to do so until after completing its Business Combination[92]. Initial Public Offering - The company generated gross proceeds of $250,000,000 from the Initial Public Offering of 25,000,000 Units at $10.00 per Unit[95]. - The company incurred $14,161,525 in Initial Public Offering related costs, including $5,000,000 in underwriting fees and $8,750,000 in deferred underwriting fees[96]. Cash and Trust Account - As of March 31, 2021, the company had cash held in the Trust Account amounting to $250,037,922, with no withdrawals made from the interest earned[98]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital[99]. Debt and Financial Obligations - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2021[103]. - The company plans to repay any loans from the Sponsor or affiliates upon completion of a Business Combination, with up to $1,500,000 of such loans convertible into warrants[101]. Accounting Policies - The company has identified critical accounting policies related to warrant liability and common stock subject to possible redemption, impacting financial reporting[106][108].
TriSalus Life Sciences(TLSI) - 2021 Q1 - Quarterly Report