Frankenius Equity AB 4

What Happened Frankenius Equity AB, a reported 10% owner of TriSalus Life Sciences (TLSI), converted all 230,000 shares of its Series A Preferred Stock into 759,000 shares of Common Stock on July 31, 2025 pursuant to the company's conversion Offer. The conversion was reported on Form 4 as the acquisition of 759,000 common shares at $0 (non‑cash conversion) and the disposition/termination of 230,000 derivative preferred shares. The filing does not show a cash purchase or sale of common stock — this was a structural conversion of preferred into common.

Key Details

• Transaction date: July 31, 2025 (Form 4 filed April 20, 2026 — late filing).
• Reported entries: 759,000 Common shares acquired (derivative conversion) and 230,000 Preferred shares disposed (derivative converted).
• Conversion mechanics: Offer set conversion using a $4.00 conversion price per share (Offer began June 23, 2025); the result here was 759,000 common shares from 230,000 preferred (3.3 common shares per preferred).
• Shares owned after transaction: Not specified in the provided filing extract.
• Footnotes: F1–F3 explain these were Series A Preferred conversions under the Offer; F2 outlines the conversion price formula and F3 confirms all 230,000 preferred were converted into 759,000 common.
• Timeliness: The Form 4 was filed many months after the July 31, 2025 transaction; Form 4s are normally due within two business days and late filings can draw SEC attention or investor scrutiny.

Context This was a conversion of preferred stock into common stock by a 10% institutional holder, not an open‑market purchase or sale by an officer or director. Conversions like this change the holder’s common‑share count and can affect share structure/dilution, but they are not direct indicators of buying or selling intent by management.