SCHEDULE: Utmost Group PLC Boosts TriSalus Life Sciences Stake

Utmost Group PLC reported an increased beneficial ownership of 6.79% in TriSalus Life Sciences, Inc. common stock as of September 30, 2025, primarily through a preferred share conversion.

Summary

• Utmost Group PLC beneficially owns 3,385,235 shares of TriSalus Life Sciences, Inc. common stock.
• This represents 6.79% of the outstanding common stock as of September 30, 2025.
• Utmost Group PLC is a non-U.S. institution based in the United Kingdom, classified as a financial institution (FI).
• On July 8, 2025, Utmost Group PLC acquired 21,193 common shares.
• On July 23, 2025, 588,000 preferred shares held by Utmost Group PLC were converted into 1,940,400 common shares.
• On September 23, 2025, Utmost Group PLC received 31,360 common shares as payment in kind for an insurance premium.
• Utmost Group PLC holds sole voting power and sole dispositive power over all 3,385,235 beneficially owned shares.
• Utmost Luxembourg S.A. (formerly Lombard International Assurance S.A.) is identified as the relevant subsidiary holding the securities.

Sentiment

Score: 6

Explanation: The filing indicates increased institutional confidence through a significant ownership stake, including a preferred share conversion, which is generally a positive signal. However, as a purely ownership disclosure, it lacks operational or financial performance details to warrant a higher score.

Positives

• Increased institutional ownership by Utmost Group PLC, a significant financial institution, which can signal confidence in TriSalus Life Sciences, Inc.'s long-term prospects.
• The conversion of preferred shares to common stock by a major holder indicates a long-term commitment and potentially simplifies the company's capital structure.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding TriSalus Life Sciences, Inc.'s future performance or strategic direction.

Industry Context

The disclosure of a significant institutional stake by Utmost Group PLC in TriSalus Life Sciences, Inc. reflects ongoing institutional interest in the life sciences and biotechnology sectors. Such investments are common as financial institutions seek exposure to growth opportunities in innovative healthcare companies.

Comparison to Industry Standards

• Institutional ownership levels vary widely across the biotechnology sector depending on company stage, market capitalization, and investment thesis.
• A 6.79% stake by a single institutional investor is a notable position, indicating a substantial commitment.
• While direct comparisons to specific companies or projects are not provided in this filing, a significant institutional holding often aligns with industry standards for companies that have achieved certain developmental milestones or show strong market potential.

Stakeholder Impact

• Shareholders: The increased institutional ownership by Utmost Group PLC may be viewed positively, potentially signaling confidence in the company's long-term prospects and stability.
• Company Management: A significant institutional investor can provide stability and potentially influence strategic decisions, though this filing does not detail any such influence.

Key Dates

Keywords

TriSalus Life Sciences, Utmost Group PLC, Common Stock, SEC Filing, Schedule 13G, Institutional Ownership, Preferred Share Conversion, Beneficial Ownership, Financial Institution, Biotechnology