<SEC-DOCUMENT>0001104659-24-112290.txt : 20241029
<SEC-HEADER>0001104659-24-112290.hdr.sgml : 20241029
<ACCEPTANCE-DATETIME>20241029172142
ACCESSION NUMBER:		0001104659-24-112290
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20241029
DATE AS OF CHANGE:		20241029

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TriSalus Life Sciences, Inc.
		CENTRAL INDEX KEY:			0001826667
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				853009869
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-280197
		FILM NUMBER:		241406744

	BUSINESS ADDRESS:	
		STREET 1:		6272 WEST 91ST AVENUE
		CITY:			WESTMINSTER
		STATE:			CO
		ZIP:			80031
		BUSINESS PHONE:		415 336 8917

	MAIL ADDRESS:	
		STREET 1:		6272 WEST 91ST AVENUE
		CITY:			WESTMINSTER
		STATE:			CO
		ZIP:			80031

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MedTech Acquisition Corp
		DATE OF NAME CHANGE:	20200930
</SEC-HEADER>
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<TYPE>POS AM
<SEQUENCE>1
<FILENAME>tm2426916d3_posam.htm
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>As filed with the U.S. Securities and Exchange
Commission on October 29, 2024</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-280197</B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POST-EFFECTIVE AMENDMENT NO.
1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;S-1</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>on</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;S-3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>REGISTRATION STATEMENT
<BR>
UNDER THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 25%; text-align: center"><B>Delaware</B></TD><TD STYLE="text-align: justify; width: 50%"></TD>
                                                                                   <TD STYLE="text-align: center; width: 25%"><B>85-3009869</B></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TRISALUS LIFE SCIENCES,&nbsp;INC.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified
in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><B>3841</B></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; width: 33%">(State or other jurisdiction of <BR>
incorporation or organization)</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; width: 34%">(Primary Standard Industrial <BR>
Classification Code Number)</TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; width: 33%">(I.R.S. Employer <BR>
Identification No.)</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>6272 W. 91<SUP>st</SUP> Ave.<BR>
Westminster, Colorado 80031<BR>
(888) 321-5212</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, including zip code, and
telephone number, including area code, of registrant&rsquo;s principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Mary Szela <BR>
Chief Executive Officer<BR>
6272 W. 91<SUP>st</SUP> Ave.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Westminster, Colorado 80031<BR>
(888) 321-5212</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address, including zip code,
and telephone number, including area code, of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Copy to:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Matt Browne <BR>
Carlos Ramirez <BR>
Cooley LLP<BR>
10265 Science Center Dr <BR>
San Diego, California 92121 <BR>
(858) 550-6000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Approximate date of
commencement of proposed sale to the public:<BR>
From time to time on or after this registration statement is declared effective.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If the only securities being registered
on this Form&nbsp;are being offered pursuant to dividend or interest reinvestment plans, please check the following box: <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If any of the securities being
registered on this Form&nbsp;are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 under the Securities Act of
1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this Form&nbsp;is filed to
register additional securities for an offering pursuant to Rule&nbsp;462(b)&nbsp;under the Securities Act, please check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this Form&nbsp;is a post-effective
amendment filed pursuant to Rule&nbsp;462(c)&nbsp;under the Securities Act, check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this Form&nbsp;is a registration
statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the
Commission pursuant to Rule&nbsp;462(e)&nbsp;under the Securities Act, check the following box. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this Form&nbsp;is a post-effective
amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional
classes of securities pursuant to Rule&nbsp;413(b)&nbsp;under the Securities Act, check the following box. <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging
growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 25%; text-align: right"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act. &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>This
post-effective amendment will become effective in accordance with the provisions of Section&nbsp;</B></FONT><B>8(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT>of
the Securities Act of 1933, as amended.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> This
Post-Effective Amendment No.&nbsp;1 (this &ldquo;Post-Effective Amendment No.&nbsp;1&rdquo;) to the Registration Statement on Form&nbsp;S-1
on Form&nbsp;S-3 (File No.&nbsp;333-280197) (the &ldquo;Registration Statement&rdquo;), as originally declared effective by the U.S.
Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on June&nbsp;21, 2024, is being filed to (i)&nbsp;convert the Registration
Statement into a registration statement on Form&nbsp;S-3 and (ii)&nbsp;update certain other information in the Registration Statement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> The
information included in this filing amends the Registration Statement and the prospectus contained therein. No additional securities
are being registered under this Post-Effective Amendment No.&nbsp;1. All applicable registration fees were paid at the time of the original
filing of the Registration Statement on June&nbsp;14, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: rgb(234,29,45)">The information in this prospectus
is not complete and may be changed. The selling security holders may not sell these securities until the registration statement filed
with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities, and neither we nor
the selling security holders seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 2in"> <FONT STYLE="color: #ea1d2d"><B>Subject
to Completion, Dated October 29, 2024</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2426916d3_posamimg01.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>130,805 Shares of Common Stock
Issuable Upon Exercise of Warrant</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> This
prospectus relates to the offer and sale, from time to time, by the selling securityholders identified in this prospectus (the &ldquo;Selling
Securityholders&rdquo;), or their permitted transferees, of up to 130,805 shares of our common stock, $0.0001 par value per share (&ldquo;Common
Stock&rdquo;), issuable upon exercise of the warrant (the &ldquo;Initial OrbiMed Warrant&rdquo;) granted to OrbiMed Royalty&nbsp;&amp;
Credit Opportunities IV, LP (&ldquo;OrbiMed&rdquo;) in connection with the credit agreement dated April&nbsp;30, 2024, entered into by
and among TriSalus Life Sciences,&nbsp;Inc. (the &ldquo;Company,&rdquo; &ldquo;TriSalus,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo;),
TriSalus Operating Life Sciences,&nbsp;Inc., OrbiMed, as the initial lender and administrative agent, and each other lender that may
from time to time become a party thereto (the &ldquo;Credit Agreement&rdquo;). See the section of this prospectus titled &ldquo;<I>Selling
Securityholders</I>&rdquo; for additional information regarding the Selling Securityholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> We
are not selling any shares of our Common Stock under this prospectus, and we will not receive any of the proceeds from the sale of shares
of our Common Stock by the Selling Securityholders. We will bear all costs, expenses and fees in connection with the registration of
the Common Stock. The Selling Securityholders will bear all commissions and discounts, if any, attributable to its respective sales of
Common Stock. We are registering these shares of our Common Stock for sale by the Selling Securityholders to satisfy certain registration
rights that we have granted to the Selling Securityholders. See the section of this prospectus titled &ldquo;<I>Selling Securityholders</I>&rdquo;
for more information. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> The
Selling Securityholders may offer and sell the securities covered by this prospectus in a number of different ways and at varying prices.
If any underwriters, dealers or agents are involved in the sale of any of the securities, their names and any applicable purchase price,
fee, commission or discount arrangement between or among them will be set forth, or will be calculable from the information set forth,
in any applicable prospectus supplement. See the sections of this prospectus titled &ldquo;<I>About this Prospectus</I>&rdquo; and &ldquo;<I>Plan
of Distribution</I>&rdquo; for more information. No securities may be sold without delivery of this prospectus and any applicable prospectus
supplement describing the method and terms of the offering of such securities. You should carefully read this prospectus and any applicable
prospectus supplement before you invest in our securities. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> Our
Common Stock is listed on the Nasdaq Global Market under the ticker symbol &ldquo;TLSI&rdquo;. On October 21, 2024, the last reported
sales price of our Common Stock was $4.25 per share. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We
are an &ldquo;emerging growth company&rdquo; as defined under U.S. federal securities laws and, as such, have elected to comply with reduced
public company reporting requirements. This prospectus complies with the requirements that apply to an issuer that is an emerging growth
company. We are incorporated in Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"><B>Investing in our securities
involves a high degree of risk. You should review carefully the risks and uncertainties described in the section titled &ldquo;Risk Factors&rdquo;
beginning on page&nbsp;4 of this prospectus, and under similar headings in any amendments or supplements to this prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"><B>Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities, or passed upon the accuracy
or adequacy of this prospectus. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Prospectus dated&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><U>Page</U>&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 95%"><A HREF="#sp_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABOUT THIS PROSPECTUS</FONT></A></TD>
    <TD STYLE="text-align: right; width: 5%"><A HREF="#sp_001">ii</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#sp_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#sp_002">iii</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#sp_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROSPECTUS SUMMARY</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#sp_003">1</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#sp_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE OFFERING</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#sp_004">3</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#sp_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#sp_005">4</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#sp_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#sp_006">5</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD> <A HREF="#sp_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SELLING SECURITYHOLDERS</FONT></A> </TD>
    <TD STYLE="text-align: right"> <A HREF="#sp_007">6</A> </TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#sp_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION OF OUR SECURITIES</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#sp_008">9</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_001">20</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PLAN OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_002">24</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_003">27</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_004">27</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHERE YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_005">28</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_006">29</A></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> For
investors outside of the United States: Neither we, nor the Selling Securityholders, have done anything that would permit this offering
or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United
States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions
relating to, the offering of our securities and the distribution of this prospectus outside the United States. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> To
the extent there is a conflict between the information contained in this prospectus, on the one hand, and the information contained in
any document incorporated by reference filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) before the date
of this prospectus, on the other hand, you should rely on the information in this prospectus. If any statement in a document incorporated
by reference is inconsistent with a statement in another document incorporated by reference having a later date, the statement in the
document having the later date modifies or supersedes the earlier statement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp_001"></A><B>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> This
prospectus is part of a registration statement on Form&nbsp;S-3 that we filed with the SEC using the &ldquo;shelf&rdquo; registration
process. Under this shelf registration process, the Selling Securityholders may, from time to time, sell the Common Stock offered by
them described in this prospectus. We will not receive any proceeds from the sale of shares of Common Stock underlying the Initial OrbiMed
Warrant pursuant to this prospectus, except with respect to amounts received by us upon the exercise of the Initial OrbiMed Warrant for
cash. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> Neither
we nor the Selling Securityholders have authorized anyone to provide you with any information or to make any representations other than
those contained in this prospectus or any applicable prospectus supplement or any free writing prospectuses prepared by or on behalf
of us or to which we have referred you. Neither we nor the Selling Securityholders take responsibility for and can provide no assurance
as to the reliability of, any other information that others may give you. Neither we nor the Selling Securityholders will make an offer
to sell these securities in any jurisdiction where the offer or sale is not permitted. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may also provide a prospectus supplement or post-effective amendment to the registration statement to add information to, or update or
change information contained in, this prospectus. You should read both this prospectus and any applicable prospectus supplement or post-effective
amendment to the registration statement together with the additional information to which we refer you in the section titled <I>&ldquo;Where
You Can Find More Information&rdquo; </I></FONT>and &ldquo;<I>Incorporation of Certain Information by Reference</I>&rdquo; before deciding
to invest in any of the securities being offered. The information contained in this prospectus and any supplement to this prospectus,
or incorporated by reference herein, is accurate only as of the respective dates thereof, regardless of the time of delivery of this prospectus
or of any sale of our securities. Our business, financial condition, results of operations and prospects may have changed since those
dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">On August&nbsp;10,
2023, Legacy TriSalus, MTAC and Merger Sub consummated the transactions contemplated by the Merger Agreement (as such terms are defined
below), following the approval by MTAC&rsquo;s stockholders at an extraordinary general meeting held on August&nbsp;2, 2023. Pursuant
to the terms of the Merger Agreement, a Business Combination (as defined below) of Legacy TriSalus and MTAC was effected through, among
other transactions, the merger of Merger Sub with and into Legacy TriSalus with the separate corporate existence of Merger Sub ceasing.
In connection with the consummation of the Merger on August&nbsp;10, 2023, MTAC changed its name from MedTech Acquisition Corporation
to TriSalus Life Sciences,&nbsp;Inc. and Legacy TriSalus changed its name from TriSalus Life Sciences,&nbsp;Inc. to TriSalus Operating
Life Sciences,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Unless the context
indicates otherwise, references in this prospectus to the &ldquo;Company,&rdquo; &ldquo;TriSalus,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo;
 &ldquo;our&rdquo; and similar terms refer to TriSalus Life Sciences,&nbsp;Inc. (f/k/a MedTech Acquisition Corporation) and its consolidated
subsidiaries (including Legacy TriSalus). References to &ldquo;MTAC&rdquo; refer to the predecessor company prior to the consummation
of the Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp_002"></A><B>CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">This prospectus and
the documents incorporated by reference herein and any prospectus supplement delivered with this prospectus may contain forward-looking
statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections,
future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These
forward-looking statements include statements regarding our intentions, beliefs and current expectations and projections concerning, among
other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which we operate.
In some cases, you can identify these forward-looking statements by the use of terminology such as &ldquo;outlook,&rdquo; &ldquo;believes,&rdquo;
 &ldquo;expects,&rdquo; &ldquo;potential,&rdquo; &ldquo;continues,&rdquo; &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo;
 &ldquo;could,&rdquo; &ldquo;seeks,&rdquo; &ldquo;approximately,&rdquo; &ldquo;predicts,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo;
 &ldquo;estimates,&rdquo; &ldquo;anticipates&rdquo; or the negative version of these words or other comparable words or phrases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> The
forward-looking statements contained in this prospectus reflect our current views about future events and are subject to numerous known
and unknown risks, uncertainties, assumptions and changes in circumstances that may cause its actual results to differ materially from
those expressed in any forward-looking statement. There are no guarantees that the transactions and events described will happen as described
(or that they will happen at all). As a result of a number of known and unknown risks and uncertainties, our actual results or performance
may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual
results to differ include: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to raise financing in the future;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to service our indebtedness and to access additional delayed draws that may in the future become available to us;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>changes in applicable laws or regulations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our ability to retain or recruit, or changes required in, our officers, key employees or directors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our ability to successfully commercialize any product candidates that we successfully develop and that are approved by applicable
regulatory authorities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our expectations for the timing and results of data from clinical trials and regulatory approval applications;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our estimates regarding expenses, future revenue, capital requirements and needs for additional financing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our business, operations and financial performance including:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our history of operating losses and expectations of significant expenses and continuing losses for the foreseeable future;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our ability to execute our business strategy, including the growth potential of the markets for our products and our ability to serve
those markets;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD>
    <TD>our ability to grow market share in our existing markets or any new markets we may enter;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD>
    <TD>our ability to develop and maintain our brand and reputation;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our ability to partner with other companies;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>the size of the addressable markets for our product candidates;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>our ability to manage our growth effectively;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability to maintain the listing of our securities in the Nasdaq Global Market, and the potential liquidity and trading of such
securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>the outcome of any legal proceedings that may be instituted against us; and</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>unfavorable conditions in our industry, the global economy or global supply chain, including financial and credit market fluctuations,
international trade relations, pandemics, political turmoil, natural catastrophes, warfare and terrorist attacks.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> In
addition, statements that &ldquo;TriSalus believes,&rdquo; &ldquo;the Company believes&rdquo; or &ldquo;we believe&rdquo; and similar
statements reflect our beliefs and opinions on the relevant subjects. These statements are based upon information available to us as
of the date of this prospectus or the date of the applicable information incorporated by reference in this prospectus, and while we believe
such information forms a reasonable basis for such statements, such information may be limited or incomplete, and such statements should
not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information.
These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">While forward-looking
statements reflect our good faith beliefs, they are not guarantees of future performance. Except to the extent required by applicable
law, we are under no obligation (and expressly disclaim any such obligation) to update or revise their forward-looking statements whether
as a result of new information, future events, or otherwise. For a further discussion of these and other factors that could cause our
future results, performance or transactions to differ significantly from those expressed in any forward-looking statement, please see
the section titled &ldquo;<I>Risk Factors</I>.&rdquo; You should not place undue reliance on any forward-looking statements, which are
based only on information currently available to us (or to third parties making the forward-looking statements).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> You
should read this prospectus and any accompanying prospectus supplement and the documents incorporated by reference herein or therein
completely and with the understanding that our actual future results, levels of activity and performance as well as other events and
circumstances may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FREQUENTLY USED TERMS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Business
Combination</B>&rdquo; means the transactions contemplated by the Merger Agreement, including, among other things, the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Bylaws</B>&rdquo; mean our amended
and restated bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Certificate of Incorporation</B>&rdquo;
means the Second Amended and Restated Certificate of Incorporation. &ldquo;<B>Closing</B>&rdquo; means the closing of the Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Closing Date</B>&rdquo; means August&nbsp;10,
2023, the date on which the Closing occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Delayed
Draw Commitment Amounts</B>&rdquo; means up to $25,000,000 in senior secured term debt, of which (i)&nbsp;up to $10,000,000 will be made
available to us on or prior to June&nbsp;30, 2025 and (ii)&nbsp;up to $15,000,000 will be made available to us on or prior to December&nbsp;31,
2025, in each case, subject to the satisfaction of certain revenue requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>DGCL</B>&rdquo; means the General
Corporation Law of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Initial Commitment
Amount</B>&rdquo; means the $25,000,000 made available to us on the OrbiMed Closing Date in connection with the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Initial OrbiMed
Warrant</B>&rdquo; means the warrant we issued to OrbiMed in connection with the closing of the Initial Commitment Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Legacy TriSalus</B>&rdquo;
means TriSalus Operating Life Sciences,&nbsp;Inc., a Delaware corporation which, pursuant to the Business Combination, became a direct,
wholly owned subsidiary of TriSalus Life Sciences,&nbsp;Inc., and, unless the context otherwise requires, its consolidated subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Merger</B>&rdquo;
means the merger of Merger Sub, a direct, wholly owned subsidiary of MTAC, with and into Legacy TriSalus, with Legacy TriSalus continuing
as the surviving entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Merger Agreement</B>&rdquo;
means that certain Agreement and Plan of Merger, dated as of November&nbsp;11, 2022, as amended by that certain First Amendment to Agreement
and Plan of Merger, dated as of April&nbsp;4, 2023, the Second Amendment to Agreement and Plan of Merger, dated as of May&nbsp;13, 2023,
and the Third Amendment to Agreement and Plan of Merger, dated as of July&nbsp;5, 2023, with Merger Sub and Legacy TriSalus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Merger Sub</B>&rdquo;
means MTAC Merger Sub,&nbsp;Inc., a Delaware corporation and wholly-owned subsidiary of MTAC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>MTAC</B>&rdquo;
means MedTech Acquisition Corporation (which was renamed &ldquo;TriSalus Life Sciences,&nbsp;Inc&rdquo; in connection with the consummation
of the Business Combination).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>MTAC IPO</B>&rdquo; means MTAC&rsquo;s
initial public offering, consummated on December&nbsp;22, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>MTAC
Units</B>&rdquo; means equity securities of us, each consisting of one share of Class&nbsp;A Common Stock and one-third of one Public
Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>OrbiMed Closing Date</B>&rdquo; means
April&nbsp;30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>OrbiMed Warrants</B>&rdquo; means
the Initial OrbiMed Warrant and Subsequent OrbiMed Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> &ldquo;<B>Private
Placement Warrants</B>&rdquo; means the 4,933,333 warrants purchased by the Sponsor in connection with the MTAC IPO in a private placement
transaction occurring simultaneously with the closing of the MTAC IPO, of which 4,428,648 remained outstanding as of October 21, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> &ldquo;<B>Public
Warrants</B>&rdquo; means the 8,281,779 outstanding warrants included as a component of the MTAC Units sold in the MTAC IPO, each of
which is exercisable, at an exercise price of $11.50, for one share of Common Stock, in accordance with its terms, of which 1,751,825
remained outstanding as of October 21, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>SPAC Warrants</B>&rdquo;
means the Working Capital Warrants, the Private Placement Warrants and the Public Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Sponsor</B>&rdquo;
means MedTech Acquisition Sponsor LLC, a Delaware limited liability company, which liquidated and distributed its holdings to its ultimate
beneficiaries prior to the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Subsequent
OrbiMed Warrants</B>&rdquo; means the additional warrants we agreed to issue to OrbiMed to purchase a number of shares of our Common Stock
determined by dividing 5% of the applicable Delayed Draw Commitment Amount by the 10-day volume weighted average sale price of our Common
Stock as of the issue date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&ldquo;<B>Warrants</B>&rdquo; means the SPAC
Warrants and the OrbiMed Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> &ldquo;<B>Working
Capital Warrants</B>&rdquo; means the 1,000,000 warrants issued upon the conversion of the promissory note issued by MTAC to the Sponsor
for working capital requirements and payment of certain expenses in connection with the Business Combination, all of which remained outstanding
as of October 21, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp_003"></A><B>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> <I>This
summary highlights information contained elsewhere in this prospectus and does not contain all of the information that you should consider
in making your investment decision. Before investing in our securities, you should carefully read this entire prospectus, including our
consolidated financial statements and the related notes thereto and the information set forth in the section titled &ldquo;Risk Factors&rdquo;
or incorporated by reference therein or otherwise incorporated by reference or included elsewhere in this prospectus, before deciding
to invest in our shares of common stock. For purposes of this section, unless otherwise indicated or the context otherwise requires,
all references to &ldquo;TriSalus,&rdquo; &ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our,&rdquo; &ldquo;ours,&rdquo; &ldquo;us&rdquo;
or similar terms refer to TriSalus Life Sciences,&nbsp;Inc. and its consolidated subsidiaries after the Closing.</I> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We are a growing, oncology
focused medical technology business bringing disruptive drug delivery technology with the goal of improving therapeutic delivery to liver
and pancreatic tumors. Additionally, we are exploring the integration of our technology with our investigational immunotherapeutic, nelitolimod,
a class C Toll-like receptor 9 agonist, for a range of liver and pancreatic indications. Our ultimate goal is to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">transform the treatment paradigm for patients
battling liver and pancreatic tumors. We have developed an innovative organ-specific platform that is designed to overcome two of the
most significant challenges that prevent optimal delivery and performance of therapeutics in these difficult-to-treat diseases: (i)&nbsp;high
intratumoral pressure caused by tumor growth and collapsed vasculature restricting the delivery of oncology therapeutics and (ii)&nbsp;the
immunosuppressive properties of liver and pancreatic tumor immune cells. By systematically addressing these barriers, we aim to improve
response to therapies and to enable improved patient outcomes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Implications of Being an Emerging Growth
Company and a Smaller Reporting Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We
are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012, as amended, and therefore we intend to
take advantage of certain exemptions from various public company reporting requirements, including not being required to have our internal
control over financial reporting audited by our independent registered public accounting firm pursuant to Section&nbsp;404(b)&nbsp;of
the Sarbanes- Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in this prospectus, our periodic reports
and our proxy statements and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and any
golden parachute payments not previously approved. We will remain an emerging growth company until the earliest of (i)&nbsp;the last
day of the fiscal year in which the market value of our Common Stock that is held by non-affiliates equals or exceeds $700 million as
of the end of that year&rsquo;s second fiscal quarter, (ii)&nbsp;the last day of the fiscal year in which we have total annual gross
revenue of $1.235 billion or more during such fiscal year (as indexed for inflation), (iii)&nbsp;the date on which we have issued more
than $1.0 billion in non-convertible debt in the prior three-year period or (iv)&nbsp;December&nbsp;31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We
are also a smaller reporting company as defined in the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;).
We may continue to be a smaller reporting company even after we are no longer an emerging growth company. We may take advantage of
certain of the scaled disclosures available to smaller reporting companies and will be able to take advantage of these scaled
disclosures for so long as (i)&nbsp;the market value of our common stock held by non-affiliates exceeds $250 million as of the end
of that year&rsquo;s second fiscal quarter, or (ii)&nbsp;our annual revenues exceeded $100 million during such completed fiscal year
and the market value of common stock held by non-affiliates equals or exceeds $700 million as of the end of that year&rsquo;s second
fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></DIV>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Corporate Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
principal executive offices are located at 6272 W. 91<SUP>st</SUP> Ave., Westminster, Colorado 80031 and our telephone number is (888)
321-5212. Our corporate website address is </FONT>www.trisaluslifesci.com. Information contained on or accessible through our website
is not a part of this prospectus, and the inclusion of our website address in this prospectus is an inactive textual reference only.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We and our
subsidiaries own or have rights to trademarks, trade names and service marks that they use in connection with the operation of their
business. Other trademarks, trade names and service marks appearing in this prospectus are the property of their respective owners.
Solely for convenience, in some cases, the trademarks, trade names and service marks referred to in this prospectus are listed
without the applicable &reg;, &trade; and SM symbols.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></DIV>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp_004"></A><B>THE OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; width: 51%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    of Common Stock offered by the Selling Securityholders </FONT> </TD>
    <TD STYLE="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt"> Up to 130,805 shares of Common Stock, which is the <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">number
    of shares of Common Stock issuable upon exercise of the Initial OrbiMed Warrant.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    of Common Stock outstanding</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> 30,491,072 shares (based on total shares outstanding <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as
    of October 21, 2024).</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    of Common Stock outstanding after giving effect to the issuance of the shares registered for resale hereunder</FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> 30,621,877 shares (based on total shares outstanding <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as
    of October 21, 2024).</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use
    of proceeds </FONT> </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"> We will not receive any proceeds from the offer and <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">sale
    of shares of Common Stock included in this prospectus by the Selling Securityholders. See &ldquo;<I>Use of Proceeds</I>&rdquo; for
    more information.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk factors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Before investing in our securities, you should carefully <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">read and consider the information set forth in the section titled &ldquo;<I>Risk Factors</I>&rdquo; beginning on page&nbsp;4 of this prospectus and the documents incorporated herein by reference.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq ticker symbol of Common Stock </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&ldquo;TLSI&rdquo;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> The
number of shares of Common Stock outstanding is based on 30,491,072 shares of Common Stock outstanding as of October 21, 2024 and excludes: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>1,751,825 shares of Common Stock issuable upon the exercise of outstanding Public Warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>4,428,648 shares of Common Stock issuable upon the exercise of outstanding Private Placement Warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></FONT></TD><TD>1,000,000 shares of Common Stock issuable upon the exercise of outstanding Working Capital Warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD STYLE="text-align: justify"> 130,805
                                            shares of Common Stock issuable upon the exercise of the Initial OrbiMed Warrant; </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> 25,207,155
                                            shares of common stock issuable upon conversion of Series&nbsp;A Convertible Preferred Stock,
                                            assuming conversion of all outstanding Series&nbsp;A Convertible Preferred Stock at its floor
                                            price; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> 7,969,524
                                            shares of Common Stock available for future issuance under the Company&rsquo;s 2023 Equity
                                            Incentive Plan; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> 2,308,867
                                            shares of Common Stock available for future issuance under the Company&rsquo;s 2023 Employee
                                            Stock Purchase Plan; and </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> 3,385,837
                                            shares of Common Stock that we may elect, in our sole discretion, to issue and sell from
                                            time to time under our standby equity purchase agreement. </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">For additional information
concerning the offering, see the section titled &ldquo;<I>Plan of Distribution</I>&rdquo; beginning on page&nbsp;24 of this prospectus.</P></DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp_005"></A><B>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing
in our securities involves a high degree of risk. Before you make a decision to buy our securities,</FONT> you should carefully review
the risks and uncertainties described under the heading &ldquo;Risk Factors&rdquo; contained in our most recent Annual Report on Form&nbsp;10-K,&nbsp;as
updated by our subsequent Quarterly Reports on Form&nbsp;10-Q&nbsp;and other filings we make with the Securities and Exchange Commission,
or the SEC, which are incorporated by reference into this prospectus in their entirety together with other information in this prospectus
and the documents incorporated by reference. The risks described in these documents are not the only ones we face, but those that we
consider to be material. There may be other unknown or unpredictable economic, business, competitive, regulatory or other factors that
could have material adverse effects on our future results. Past financial performance may not be a reliable indicator of future performance,
and historical trends should not be used to anticipate results or trends in future periods. If any of these risks actually occur, our
business, financial condition, results of operations or cash flow could be seriously harmed. This could cause the trading price of our
Common Stock to decline, resulting in a loss of all or part of your investment. Additional risks not presently known to us or that we
currently believe are immaterial may also significantly impair our business operations. Please also read carefully the section above
titled &ldquo;Cautionary Note Regarding Forward-Looking Statements.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp_006"></A><B>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> All
of the shares of our Common Stock offered by the Selling Securityholders pursuant to this prospectus will be sold by the Selling Securityholders
for their own account. We will not receive any of the direct proceeds from these sales. We will bear all expenses incurred by us incurred
in effecting the registration of the Common Stock covered by this prospectus and any accompanying prospectus supplement, including, without
limitation, all registration, qualification and filing fees, printing expenses, escrow fees, fees and expenses of our legal counsel and
our accountants, fees and expenses of one counsel for the Selling Securityholders in an amount not to exceed $10,000, blue sky fees and
expenses and the expenses of any special audits incident to or required by the registration statement to which this prospectus is a part,
each in accordance with the terms of the Registration Rights Agreement entered into by and among the Company and OrbiMed in connection
with the Credit Agreement on April&nbsp;30, 2024. The Selling Securityholders will bear all commissions and discounts, if any, attributable
to their respective sales of Common Stock. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B><A NAME="sp_007"></A>SELLING SECURITYHOLDERS</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> This
prospectus relates to the offer and sale from time to time by the Selling Securityholders of up to 130,805 shares of Common Stock issuable
upon exercise of the Initial OrbiMed Warrant. We are registering the shares of Common Stock included in this prospectus pursuant to the
OrbiMed Registration Rights Agreement we entered into with OrbiMed on April&nbsp;30, 2024 in order to permit the Selling Securityholders
to offer the shares included in this prospectus for resale from time to time. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> The
table below presents information regarding the Selling Securityholders and the shares of Common Stock that may be resold by the Selling
Securityholders from time to time under this prospectus. This table is prepared based on information supplied to us by the Selling Securityholders,
and reflects holdings as of October 21, 2024. The number of shares in the column &ldquo;Number Registered for Sale Hereby&rdquo; represents
all of the shares of Common Stock being offered for resale by each of the Selling Securityholders under this prospectus. The Selling
Securityholders may sell some, all or none of the shares being offered for resale in this offering. We do not know how long the Selling
Securityholders will hold the shares before selling them, and we are not aware of any existing arrangements between the Selling Securityholders
and any other stockholder, broker, dealer, underwriter or agent relating to the sale or distribution of the shares of our Common Stock
being offered for resale by this prospectus. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> Beneficial
ownership is determined in accordance with Rule&nbsp;13d-3(d)&nbsp;promulgated by the SEC under the Exchange Act, and includes shares
of Common Stock with respect to which the Selling Securityholders have sole or shared voting and investment power. The percentage of
shares of Common Stock beneficially owned by each of the Selling Securityholders prior to the offering shown in the table below is based
on an aggregate of 30,491,072 shares of our Common Stock outstanding on October 21, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> We
have determined beneficial ownership in accordance with the rules&nbsp;of the SEC. Except as indicated by the footnotes below, we believe,
based on the information furnished to us, that the Selling Securityholders have sole voting and investment power with respect to all
shares of Common Stock that they beneficially own, subject to applicable community property laws. Except as otherwise described below,
based on the information provided to us by the Selling Securityholders, the Selling Securityholders are not a broker-dealer or an affiliate
of a broker-dealer. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 28%; text-align: left"> Name of
    Selling Securityholder </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 15%; text-align: center"> Number
                                            <BR>
                                            Beneficially Owned Prior to Offering<SUP>(3)</SUP> <TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 15%; text-align: center"> Number
                                            <BR>
                                            Registered for <BR>
                                            Sale Hereby<SUP>(3)</SUP> <TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 15%; text-align: center"> Number
                                            <BR>
                                            Beneficially Owned <BR>
                                            After Offering </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 15%; text-align: center"> Percent<BR>
                                            Beneficially <BR>
                                            After Offering </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(35,31,32); text-align: left"> OrbiMed Royalty&nbsp;&amp; Credit
    Opportunities IV, LP<SUP>(1)</SUP> </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(35,31,32); text-align: right"> 92,801 </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: rgb(35,31,32); text-align: right"> 92,801 </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> OrbiMed Royalty &amp; Credit Opportunities IV Offshore,
    LP<SUP>(2)</SUP> </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 38,004 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 38,004 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> &mdash; </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </TD></TR>
  </TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">(1)</TD><TD>OrbiMed ROF IV LLC (&ldquo;ROF IV&rdquo;) is the general partner of OrbiMed, and OrbiMed Advisors LLC (&ldquo;Advisors&rdquo;) is
the managing member of ROF IV. By virtue of such relationships, ROF IV and Advisors may be deemed to have voting power and investment
power over the Common Stock issuable to OrbiMed and as a result, may be deemed to have beneficial ownership over such Common Stock. Advisors
exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho and W. Carter Neild, each
of whom disclaims beneficial ownership of the Initial OrbiMed Warrant and the shares of Common Stock issuable upon exercise of the Initial
OrbiMed Warrant.</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                          <TR STYLE="vertical-align: top">
<TD> (2) </TD><TD> <FONT STYLE="font-size: 10pt">ROF IV is the general partner of </FONT><FONT STYLE="font-size: 9pt; color: #231f20">OrbiMed
            Royalty &amp; Credit Opportunities IV Offshore, LP</FONT> <FONT STYLE="font-size: 10pt">(&ldquo;RCOF IV Offshore&rdquo;),
            and Advisors is the managing member of ROF IV. By virtue of such relationships, ROF IV and Advisors may be deemed to have
            voting power and investment power over the Common Stock issuable to RCOF IV Offshore and as a result, may be deemed to have
            beneficial ownership over such Common Stock. Advisors exercises voting and investment power through a management committee
            comprised of Carl L. Gordon, Sven H. Borho and W. Carter Neild, each of whom disclaims beneficial ownership of the Initial
            OrbiMed Warrant and the shares of Common Stock issuable upon exercise of the Initial OrbiMed Warrant.</FONT> </TD></TR>
                          <TR STYLE="vertical-align: top">
<TD> &nbsp; </TD><TD> &nbsp; </TD></TR>

<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"> (3) </TD><TD> Consists solely of shares of Common Stock issuable upon exercise of the Initial OrbiMed Warrant. </TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"> <B>Relationship with the
Selling Securityholders</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> On
April&nbsp;30, 2024, in addition to entering into the Credit Agreement with OrbiMed, we also entered into the OrbiMed Registration Rights
Agreement and the Initial OrbiMed Warrant. On August 15, 2024, OrbiMed assigned a portion of the Initial OrbiMed Warrant to its affiliate,
OrbiMed Royalty &amp; Credit Opportunities IV Offshore, LP. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>OrbiMed Credit Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">On the OrbiMed Closing
Date, the Company entered into the Credit Agreement with OrbiMed, as lender and administrative agent. The Credit Agreement provides for
a five-year senior secured credit facility in an aggregate principal amount of up to $50 million (the &ldquo;Loan Facility&rdquo;), of
which (i)&nbsp;$25 million was available on the OrbiMed Closing Date and (ii)&nbsp;up to $10 million will be available on or prior to
June&nbsp;30, 2025 and up to $15 million will be made available on or prior to December&nbsp;31, 2025, in each case, subject to satisfaction
of certain revenue requirements. The term loan will mature on April&nbsp;30, 2029. On the OrbiMed Closing Date, the Company borrowed the
Initial Commitment Amount, resulting in gross proceeds to the Company of $25 million.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Subject to certain
exceptions, obligations under the Credit Agreement are required to be guaranteed by the subsidiaries of the Company, including any future
subsidiaries. The obligations under the Credit Agreement are secured by all or substantially all of the assets of the Company and the
subsidiary guarantors. If, until the maturity date of the Loan Facility, the Company&rsquo;s net revenue attributable to the TriNav infusion
system does not equal or exceed the applicable amount for such period as set forth in the Credit Agreement, then the Company will be required
to repay in equal monthly installments the outstanding principal amount of the Loan Facility, together with a repayment premium and other
fees. The Company will be required to repay amounts outstanding under the Loan Facility in full immediately upon an acceleration as a
result of an event of default as set forth in the Credit Agreement, together with a repayment premium and other fees.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">During the term of
the Loan Facility, interest payable in cash by the Company will accrue on any outstanding balance due under the Loan Facility at a rate
per annum equal to the higher of (x)&nbsp;the SOFR rate (which is the forward-looking term rate for a one-month tenor based on the secured
overnight financing rate administered by the CME Group Benchmark Administration Limited) and (y)&nbsp;4.00% plus, in either case, 8.50%.
For the first fifteen months after the OrbiMed Closing Date, the Company will have the option to accrue interest of up to 3.50% as payable
in kind. At all times on and after the date any event of default occurs, until such event of default is no longer continuing, the Loan
Facility will bear interest at a rate of 4.00% in excess of the otherwise applicable rate of interest. If any portion of the Loan Facility
is repaid prior to the maturity date, then the Company will pay a prepayment premium with respect to such portion of the Loan Facility
equal to (i)&nbsp;during the first year after such portion&rsquo;s funding, 3.0% of the principal amount of such portion <I>plus </I>an
amount equal to the remaining scheduled payments of interest on such portion through the 12 month anniversary of such portion&rsquo;s
funding; (ii)&nbsp;during the second year after such portion&rsquo;s funding, 3.0% of the principal amount of such portion; (iii)&nbsp;during
the third year after such portion&rsquo;s funding, 2.0% of the principal amount of such portion; and (iv)&nbsp;during the fourth year
after such portion&rsquo;s funding, 1.0% of the principal amount of such portion. After the 48-month anniversary of the funding of any
portion of the Loan Facility, there will be no prepayment premium with respect to such portion. In addition, the Company will pay certain
other fees with respect to the Loan Facility, including a commitment fee, an unused fee on the undrawn portion of the Loan Facility, an
administration fee and an exit fee, as well as certain other fees and expenses of the administrative agent and lenders.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Credit Agreement
contains customary events of default, including, but not limited to, nonpayment of principal, interest, fees or other amounts; material
inaccuracy of a representation or warranty; failure to perform or observe covenants; cross-defaults with certain other indebtedness; bankruptcy
and insolvency events; material monetary judgment defaults; impairment of any material definitive loan documentation; other material adverse
effects; key permit and other regulatory events; and change of control. Upon the occurrence of an event of default (subject to notice
and grace periods), obligations under the Credit Agreement could be accelerated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Credit Agreement
also contains a number of customary representations, warranties and covenants that, among other things, will limit or restrict the ability
of the Company and its subsidiaries to (subject to certain qualifications and exceptions): create liens and encumbrances; incur additional
indebtedness; merge, dissolve, liquidate or consolidate; make acquisitions, investments, advances or loans; dispose of or transfer assets;
pay dividends or make other payments in respect of their capital stock; amend certain material documents; redeem or repurchase certain
debt; engage in certain transactions with affiliates; and enter into certain restrictive agreements. In addition, the Company will be
required to at all times maintain unrestricted cash and cash equivalents that are subject to a first-priority perfected security interest
in favor of OrbiMed in an amount equal to or greater than (i)&nbsp;$5,000,000 prior to March&nbsp;31, 2025 and (ii)&nbsp;$10,000,000 on
and after March&nbsp;31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>OrbiMed Registration Rights Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">On the OrbiMed Closing
Date, concurrently and in connection with the execution of the Credit Agreement, the Company entered into the OrbiMed Registration Rights
Agreement with OrbiMed pursuant to which OrbiMed has certain customary registration rights. The Company is required to prepare and file
a resale registration statement (the &ldquo;<B><I>Initial OrbiMed Registration Statement</I></B>&rdquo;) with the SEC to register the
resale of shares of Common Stock issuable upon exercise of the Initial OrbiMed Warrant within 45 days following the OrbiMed Closing Date.
The Company will also be required to prepare and file a resale registration statement (the &ldquo;<B><I>Subsequent OrbiMed Registration
Statement</I></B>&rdquo; and collectively, with the Initial OrbiMed Registration Statement, the &ldquo;<B><I>OrbiMed Registration Statements</I></B>&rdquo;)
with the SEC to register the resale of shares of the Company&rsquo;s common stock issuable upon the exercise of each Subsequent OrbiMed
Warrant and not covered by an existing effective OrbiMed Registration Statement within 30 days after the issuance of such Subsequent OrbiMed
Warrant. For each OrbiMed Registration Statement, the Company must use its reasonable best efforts to cause the OrbiMed Registration Statement
to be declared effective, but in any event (x)&nbsp;no later than the 5th trading day following the date the SEC notifies the Company
that it will not review the OrbiMed Registration Statement and (y)&nbsp;no later than the 90th day following the filing of the OrbiMed
Registration Statement in the event that the SEC reviews the OrbiMed Registration Statement. The rights granted to OrbiMed under the OrbiMed
Registration Rights Agreement continue until such time as (A)&nbsp;such shares underlying the OrbiMed Warrants have been disposed of pursuant
to an effective OrbiMed Registration Statement, (B)&nbsp;such shares are sold pursuant to Rule&nbsp;144, (C)&nbsp;OrbiMed or its successor
or assign is able to dispose of all of the shares registered on such OrbiMed Registration Statement without restriction or limitation
pursuant to Rule&nbsp;144 and all restrictive legends and stop transfer instructions have been removed with respect to such shares or
(D)&nbsp;the expiration date of the OrbiMed Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>OrbiMed Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> In
connection with the Credit Agreement and the closing of the Initial Commitment Amount, we issued OrbiMed the Initial OrbiMed Warrant
to purchase 130,805 shares of our common stock, with an exercise price of $9.5562, subsequently adjusted to $9.4487. On August 15, 2024,
OrbiMed assigned a portion of the Initial OrbiMed Warrant to its affiliate, OrbiMed Royalty &amp; Credit Opportunities IV Offshore, LP.
The Initial OrbiMed Warrant expires on April&nbsp;30, 2031. On each of the closings of the Delayed Draw Commitment Amounts, if any, we
agreed to issue additional warrants to purchase a number of shares of our Common Stock determined by dividing 5% of the applicable Delayed
Draw Commitment Amount by the 10-day volume weighted average sale price of our Common Stock as of the issue date. The Subsequent OrbiMed
Warrants will expire seven years from each applicable issuance date, if any. </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="sp_008"></A><B>DESCRIPTION OF OUR SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"><I>The following summary
of the material terms of our securities is not intended to be a complete summary of the rights and preferences of such securities, and
is qualified by reference to our Certificate of Incorporation, our Bylaws and the Warrants described herein, which are exhibits to the
registration statement of which this prospectus is a part. We urge you to read each of our Certificate of Incorporation, our Bylaws, and
the Warrants- related documents described herein in their entirety for a complete description of the rights and preferences of our securities.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>Authorized and Outstanding Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Our Certificate of
Incorporation authorizes the issuance of 410,000,000 shares of capital stock, consisting of (a)&nbsp;400,000,000 shares of common stock,
having a par value per share of $0.0001, and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> (b)10,000,000
shares of preferred stock, having a par value per share of $0.0001 (the &ldquo;preferred stock&rdquo;). An aggregate of 3,985,002 shares
of preferred stock, par value $0.0001 per share, designated as Series&nbsp;A Convertible Preferred Stock (the &ldquo;Series&nbsp;A Convertible
Preferred Stock&rdquo;) are issued and outstanding. See the Certificate of Designations for the Series&nbsp;A Convertible Preferred Stock
(the &ldquo;Certificate of Designations&rdquo;) filed as an exhibit to our Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 2023, filed with the SEC on April&nbsp;11, 2024 (the &ldquo;2023 Annual Report&rdquo;). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>General</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The following description
summarizes selected information regarding the Common Stock as well as relevant provisions of: (i)&nbsp;the Certificate of Incorporation;
(ii)&nbsp;the Bylaws; and (iii)&nbsp;the DGCL. The following summary is qualified in its entirety by, and should be read in conjunction
with, the Certificate of Incorporation and the Bylaws, copies of which have been filed as exhibits to the 2023 Annual Report and the registration
statement of which this prospectus forms a part, and the applicable provisions of the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Voting Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Each holder of Common
Stock will be entitled to one (1)&nbsp;vote for each share of Common Stock held of record by such holder on all matters submitted to a
vote of our stockholders; provided, however, that, except as otherwise required in the Certificate of Incorporation or by applicable law,
the holders of Common Stock shall not be entitled to vote on any amendment to the Certificate of Incorporation or any certificate of designation
filed with respect to any series of our preferred stock that alters or changes the powers, preferences, rights or other terms of one or
more outstanding series of our preferred stock (including the Series&nbsp;A Convertible Preferred Stock) if the holders of such affected
series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to the
Certificate of Incorporation (including any certificate of designation relating to any series of preferred stock) or pursuant to the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Dividend Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Subject
to applicable law and the rights of the holders of any outstanding class of our preferred stock, including the Series&nbsp;A Convertible
Preferred Stock, and the provisions of the Certificate of Incorporation, holders of Common Stock will be entitled to receive such dividends
and other distributions in cash, stock or property of the Company when, as and if declared thereon by our Board, in its sole discretion,
from time to time out of assets or funds of the Company legally available therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Rights upon Liquidation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Subject
to applicable law and the rights and preferences of the holders of any holders of any shares of any outstanding class of preferred
stock, including the Series&nbsp;A Convertible Preferred Stock, in the event of any liquidation, dissolution or winding up of our
affairs, whether voluntary or involuntary, after payment or provision for payment of our debts and any other payments required by
law and amounts payable upon shares of preferred stock ranking senior to the shares of Common Stock upon such dissolution,
liquidation or winding up, if any, our remaining net assets will be distributed to the holders of Common Stock and the holders of
any other class or series of capital stock ranking equally with the Common Stock upon such dissolution, liquidation or winding up,
equally on a per share basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Preemptive or Other Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The holders of Common
Stock will not have preemptive or other subscription rights and there are no redemption or sinking fund provisions applicable to the Common
Stock. The rights, preferences and privileges of holders of the Common Stock will be subject to those of the holders of the Series&nbsp;A
Convertible Preferred Stock and any other series of preferred stock that we may issue in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Election of Directors</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Board is divided
into three classes, Class&nbsp;I, Class&nbsp;II and Class&nbsp;III, with members of each class serving staggered three-year terms with
only one class of directors being elected in each year. There is no cumulative voting with respect to the election of directors. Under
the Bylaws, the election of directors is determined by plurality vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Our charter provides
that shares of preferred stock may be issued from time to time in one or more series. Our Board is authorized to fix the voting rights,
if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications, limitations
and restrictions thereof, applicable to the shares of each series. Our Board is able to, without stockholder approval, issue preferred
stock with voting and other rights that could adversely affect the voting power and other rights of the holders of the Common Stock and
could have anti-takeover effects. The ability of our Board to issue preferred stock without stockholder approval could have the effect
of delaying, deferring or preventing a change of control of us or the removal of existing management. While we have no current plans to
issue additional preferred stock, circumstances in which we might issue additional preferred stock in the future could include, among
others, offerings of preferred stock undertaken for capital raising purposes, issuances in connection with acquisitions we might make
in the future, or issuances in connection with potential change of control or strategic transactions involving us. Any determination by
us to issue shares of preferred stock in the future will be dependent on the facts and circumstances at the time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Series&nbsp;A Convertible Preferred
Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The
Certificate of Designations establishes the voting powers, designations, preferences and relative, participating, optional or other
special rights, and the qualifications, limitations and restrictions of the shares of the Series&nbsp;A Convertible Preferred Stock,
which are described in more detail below. The following description of our Series&nbsp;A Convertible Preferred Stock is intended as
a summary only and does not purport to be complete, and is qualified in its entirety by reference to the Certificate of Designations
and to the applicable provisions of Delaware law. We urge you to read the Certificate of Designations because it, and not this
description, defines the rights of holders of shares of Series&nbsp;A Convertible Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Ranking</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">With respect to payment
of dividends and distribution of assets upon liquidation, dissolution or winding up of the Company, the Series&nbsp;A Convertible Preferred
Stock ranks: (i)&nbsp;junior to any class or series of capital stock of the Company hereafter created which expressly ranks senior to
the Series&nbsp;A Convertible Preferred Stock; (ii)&nbsp;on parity with any class or series of capital stock of the Company hereafter
created that expressly ranks pari passu with the Series&nbsp;A Convertible Preferred Stock; and (iii)&nbsp;senior to the Common Stock
or any class or series of capital stock of the Company hereafter created that expressly ranks junior to the Series&nbsp;A Convertible
Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Optional Conversion</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The
Series&nbsp;A Convertible Preferred Stock are convertible at any time at the option of the holder thereof into the number of shares
of Common Stock determined by the quotient of (i)&nbsp;the sum of $10.00 (as adjusted for any stock dividend, stock split, reverse
stock split, combination or similar event affecting the Series&nbsp;A Convertible Preferred Stock) (the &ldquo;<B>Liquidation
Preference</B>&rdquo;) and if the Company has not elected to otherwise pay the accrued Annual Dividends (as defined below) in cash
to the holder, the accrued Annual Dividends on such shares as of the date of conversion, divided by (ii)&nbsp;the Conversion Price
(as defined in the Certificate of Designations) of such shares in effect at the time of conversion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Automatic Conversion</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">On the four year anniversary
of the Closing Date, all then outstanding shares of Series&nbsp;A Convertible Preferred Stock shall automatically convert into the number
of shares of Common Stock equal to the quotient of (i)&nbsp;the sum of the Liquidation Preference and if the Company has not elected to
otherwise pay the accrued Annual Dividends in cash to the holder, the accrued Annual Dividends on such shares as of the date of conversion,
divided by (ii)&nbsp;the Conversion Price of such shares in effect at the time of conversion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Dividends</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Holders of the Series&nbsp;A
Convertible Preferred Stock are entitled to participate equally in any dividends declared to holders of Common Stock (the &ldquo;Participating
Dividends&rdquo;). In addition, each holder of the Series&nbsp;A Convertible Preferred Stock is entitled to receive, when, as and if authorized
and declared by the Board, annual dividends that accrue and accumulate on a daily basis at a rate per annum (calculated on the basis of
an actual 365-or 366-day year, as applicable) equal to 8.0% of the Liquidation Preference, which will be either paid in cash, paid by
issuing fully paid and nonassessable shares of Common Stock, or a combination thereof (the &ldquo;Annual Dividends&rdquo;). So long as
any shares of Series&nbsp;A Convertible Preferred Stock remain outstanding, unless all Annual Dividends on all outstanding shares of Series&nbsp;A
Convertible Preferred Stock have been declared and paid in cash, the Company will be prohibited from declaring any dividends on, or making
any distributions relating to, other classes of preferred stock of the Company ranking junior to the Series&nbsp;A Convertible Preferred
Stock, subject to certain exceptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Anti-dilution Provisions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Conversion Price
is subject to customary adjustments in the case of certain distributions to holders of Common Stock payable in shares of Common Stock,
subdivisions, splits or combinations of the shares of Common Stock and distributions to all holders of shares of Common Stock of any convertible
securities or options or any other assets for which there is no corresponding distribution in respect of the Series&nbsp;A Convertible
Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The
initial Conversion Price will automatically reset upon each of the eighteen (18) month and forty-seven (47) month anniversaries of
the Closing Date to be equal to the lower of (i)&nbsp;the then-current Conversion Price and (ii)&nbsp;the daily volume weighted
average price of the Common Stock for the ten trading days immediately prior to, but excluding, the applicable reset date, on the
Nasdaq Stock Market LLC (subject to the Floor Price (as defined in the Certificate of Designations)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Voting Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Holders
of the Series&nbsp;A Convertible Preferred Stock are entitled to vote with the holders of the Common Stock on all matters submitted
to a vote of stockholders of the Company, except as otherwise provided in the Certificate of Designations or as required by
applicable law, voting together with the holders of Common Stock as a single class. Each holder is entitled to a number of votes in
respect of the shares of Series&nbsp;A Convertible Preferred Stock owned as of the record date by it, or if no such record date is
established, as of the date such vote is taken or any written consent of stockholders is solicited, equal to the quotient of
(i)&nbsp;$10.00 divided by (ii)&nbsp;the Minimum Price (as defined in Nasdaq Listing Rule&nbsp;5635(d)) of the Common Stock as
determined at the effective time of the Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">As
long as any shares of Series&nbsp;A Convertible Preferred Stock are outstanding, the Company shall not, without the affirmative vote
of the holders of a majority of the then outstanding shares of the Series&nbsp;A Convertible Preferred Stock, (i)&nbsp;amend, alter,
repeal or otherwise modify any provision of the Certificate of Incorporation or the Certificate of Designations in a manner that
would alter or change the terms or the powers, preferences, rights or privileges of the Series&nbsp;A Convertible Preferred Stock as
to affect them adversely; (ii)&nbsp;authorize, create, increase the authorized amount of, or issue any class or series of senior to
the Series&nbsp;A Convertible Preferred Stock; (iii)&nbsp;increase the authorized number of shares of Series&nbsp;A Convertible
Preferred Stock or (iv)&nbsp;enter into any agreement with respect to the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Liquidation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Upon any liquidation,
dissolution or winding-up of the Company, whether voluntary or involuntary (excluding any mergers, consolidations, reorganizations or
other changes of control), after payment or provision for payment of the debts and other liabilities of the Company, the holders of the
Series&nbsp;A Convertible Preferred Stock are entitled to receive, before the holders of any of the Common Stock or other classes of preferred
stock of the Company ranking junior thereto, out of the remaining net assets of the Company, the amount equal to the greater of (i)&nbsp;the
sum of (A)&nbsp;the Liquidation Preference, and (B)&nbsp;the aggregate accrued Annual Dividends of such shares as of the date of the liquidation,
and (ii)&nbsp;the amount such holder would have received had such shares of Series&nbsp;A Convertible Preferred Stock, immediately prior
to such liquidation, been converted into shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">In the event that the
assets available for distribution to stockholders of the Company upon a liquidation are insufficient to pay in full the amounts payable
with respect to all outstanding shares of Series&nbsp;A Convertible Preferred Stock, such assets, or the proceeds thereof, shall be distributed
among the holders of the Series&nbsp;A Convertible Preferred Stock ratably in proportion to the full respective liquidating distributions
to which each holder would otherwise be entitled upon such liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Fundamental Transactions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Upon
any sale of all or substantially all of the Company&rsquo;s assets, any merger, consolidation, reorganization, change of control or
other similar transaction (each a &ldquo;Fundamental Transaction&rdquo;), holders of Series&nbsp;A Convertible Preferred Stock shall
have the right to receive, for each share of Common Stock that would have been issuable upon such conversion immediately prior to
the occurrence of such Fundamental Transaction, the number of shares of Common Stock (if it is the surviving entity), or common
stock of the successor or acquiring corporation (if it is the surviving entity), and any additional consideration receivable as a
result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which the Series&nbsp;A Convertible
Preferred Stock is convertible immediately prior to such Fundamental Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Compensation for Buy-In on Failure
to Timely Deliver Conversion Shares Upon Conversion</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">If the Company fails
to timely deliver shares of Common Stock upon conversion of the Series&nbsp;A Convertible Preferred Stock within the time period specified
in the Certificate of Designations, then the Company is obligated to (A)&nbsp;pay to the holder, in cash, the amount, if any, by which
(x)&nbsp;such holder&rsquo;s total purchase price (including any brokerage commissions) for the Common Stock so purchased exceeds (y)&nbsp;the
product of (1)&nbsp;the aggregate number of shares of Common Stock that such holder was entitled to receive from the conversion at issue
multiplied by (2)&nbsp;the actual sale price at which the sell order giving rise to such purchase obligation was executed (including any
brokerage commissions) and (B)&nbsp;at the option of such holder, either reissue (if surrendered) the shares of Series&nbsp;A Convertible
Preferred Stock equal to the number of shares of Series&nbsp;A Convertible Preferred Stock submitted for conversion (in which case, such
conversion shall be deemed rescinded) or deliver to such holder the number of shares of Common Stock that would have been issued if the
Company had timely complied with its delivery requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B><I>Public Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Each
whole Public Warrant entitles the registered holder to purchase one share of our Common Stock at a price of $11.50 per share,
subject to adjustment as discussed below, at any time commencing 30 days after the completion of the Business Combination. The
Public Warrants will expire five years after the completion of the Business Combination, at 5:00 p.m., New York City time, or
earlier upon redemption or liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We will not be obligated
to deliver any shares of Common Stock pursuant to the exercise of a Public Warrant and will have no obligation to settle such warrant
exercise unless a registration statement under the Securities Act with respect to the shares of Common Stock underlying the warrants is
then effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below with respect to
registration. No Public Warrant will be exercisable and we will not be obligated to issue shares of Common Stock upon exercise of a warrant
unless Common Stock issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws
of the state of residence of the registered holder of the warrants. In the event that the conditions in the two immediately preceding
sentences are not satisfied with respect to a Public Warrant, the holder of such warrant will not be entitled to exercise such warrant
and such warrant may have no value and expire worthless. In no event will we be required to net cash settle any Public Warrant. In the
event that a registration statement is not effective for the exercised Public Warrants, the purchaser of an equity security consisting
of one share of Common Stock and one-third of a Public Warrant (&ldquo;Unit&rdquo;) containing such warrant, if not cash settled, will
have paid the full purchase price for the Unit solely for the share of Common Stock underlying such Unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> All
(and not less than all) of the outstanding Public Warrants may be exchanged, at our option, at any time while they are exercisable and
prior to their expiration, at the office of the warrant agent, upon notice to the holders of the then outstanding Public Warrants, at
the exchange rate of 0.27 shares of Common Stock per Public Warrant (subject to equitable adjustment by us in the event of any stock
splits, stock dividends, recapitalizations or similar transaction with respect to the Common Stock). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> In
addition, we may call the Public Warrants for redemption: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>in whole and not in part;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>at a price of $0.01 per warrant;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>upon not less than 30 days&rsquo; prior written notice of redemption (the &ldquo;30-day redemption period&rdquo;) to each warrantholder;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if, and only if, the reported closing price of the Common Stock equals or exceeds $18.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending three
business days before we send the notice of redemption to the warrantholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We may not exercise
our redemption right if the issuance of shares of Common Stock upon exercise of the warrants is not exempt from registration or qualification
under applicable state blue sky laws or we are unable to effect such registration or qualification. We will use our reasonable best efforts
to register or qualify such shares of Common Stock under the blue sky laws of the state of residence in those states in which the Public
Warrants were initially offered by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We have established
the last of the redemption criteria discussed above to prevent a redemption call unless there is at the time of the call a significant
premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the Public Warrants,
each warrantholder will be entitled to exercise its warrant prior to the scheduled redemption date. However, the price of the Common Stock
may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like), as well as the $11.50 warrant exercise price after the redemption notice is issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">If we call the Public
Warrants for redemption as described above, our management will have the option to require any holder that wishes to exercise its warrant
to do so on a cashless basis. In determining whether to require all holders to exercise their Public Warrants on a cashless basis, our
management will consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive effect
on our stockholders of issuing the maximum number of shares of Common Stock issuable upon the exercise of our warrants. If our management
takes advantage of this option, all holders of Public Warrants would pay the exercise price by surrendering their warrants for that number
of shares of Common Stock equal to the quotient obtained by dividing (x)&nbsp;the product of the number of shares of Common Stock underlying
the Public Warrants multiplied by the excess of the &ldquo;fair market value&rdquo; (defined below) over the exercise price of the Public
Warrants by (y)&nbsp;the fair market value. The &ldquo;fair market value&rdquo; shall mean the average reported closing price of the Common
Stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders
of Public Warrants . If our management takes advantage of this option, the notice of redemption will contain the information necessary
to calculate the number of shares of Common Stock to be received upon exercise of the Public Warrants, including the &ldquo;fair market
value&rdquo; in such case. Requiring a cashless exercise in this manner will reduce the number of shares to be issued and thereby lessen
the dilutive effect of a warrant redemption. We believe this feature is an attractive option to us if we do not need the cash from the
exercise of the Public Warrants. If we call the Public Warrants for redemption and our management does not take advantage of this option,
Sponsor and its permitted transferees would still be entitled to exercise their Private Placement Warrants or Working Capital Warrants
for cash or on a cashless basis using the same formula described above that other warrantholders would have been required to use had all
warrantholders been required to exercise their Public Warrants on a cashless basis, as described in more detail below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Split-Segment; Name: 1 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">A holder of a Public Warrant may notify us in writing in the event
it elects to be subject to a requirement that such holder will not have the right to exercise such warrant, to the extent that after
giving effect to such exercise, such person (together with such person&rsquo;s affiliates), to the warrant agent&rsquo;s actual knowledge,
would beneficially own in excess of 4.9% or 9.8% (or such other amount as a holder may specify) of the shares of Common Stock outstanding
immediately after giving effect to such exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">If the number of
outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of
Common Stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of
shares of Common Stock issuable on exercise of each Public Warrant will be increased in proportion to such increase in the
outstanding shares of Common Stock. A rights offering to holders of Common Stock entitling holders to purchase shares of Common
Stock at a price less than the fair market value will be deemed a stock dividend of a number of shares of Common Stock equal to the
product of (i)&nbsp;the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity
securities sold in such rights offering that are convertible into or exercisable for Common Stock) and (ii)&nbsp;one minus the
quotient of (x)&nbsp;the price per share of Common Stock paid in such rights offering divided by (y)&nbsp;the fair market value. For
these purposes (i)&nbsp;if the rights offering is for securities convertible into or exercisable for Common Stock, in determining
the price payable for Common Stock, there will be taken into account any consideration received for such rights, as well as any
additional amount payable upon exercise or conversion and (ii)&nbsp;fair market value means the volume weighted average price of
Common Stock as reported during the 10 trading day period ending on the trading day prior to the first date on which the shares of
Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive such
rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">In addition, if
we, at any time while the Public Warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities
or other assets to the holders of Common Stock on account of such shares of Common Stock (or other shares of our capital stock into
which the warrants are convertible), other than (a)&nbsp;as described above or (b)&nbsp;certain ordinary cash dividends, then the
warrant exercise price will be decreased, effective immediately after the effective date of such event, by the amount of cash and/or
the fair market value of any securities or other assets paid on each share of Common Stock in respect of such event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">If the number of outstanding
shares of our Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Common Stock
or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification or similar
event, the number of shares of Common Stock issuable on exercise of each Public Warrant will be decreased in proportion to such decrease
in outstanding shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Whenever the number
of shares of Common Stock purchasable upon the exercise of the Public Warrants is adjusted, as described above, the warrant exercise price
will be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x)&nbsp;the numerator of
which will be the number of shares of Common Stock purchasable upon the exercise of the warrants immediately prior to such adjustment,
and (y)&nbsp;the denominator of which will be the number of shares of Common Stock so purchasable immediately thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">In case of any
reclassification or reorganization of the outstanding shares of Common Stock (other than those described above or that solely
affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of us with or into another
corporation (other than a consolidation or merger in which we are the continuing corporation and that does not result in any
reclassification or reorganization of our outstanding shares of Common Stock), or in the case of any sale or conveyance to another
corporation or entity of the assets or other property of us as an entirety or substantially as an entirety in connection with which
we are dissolved, the holders of the Public Warrants will thereafter have the right to purchase and receive, upon the basis and upon
the terms and conditions specified in the warrants and in lieu of the shares of our Common Stock immediately theretofore purchasable
and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or
property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution
following any such sale or transfer, that the holder of the warrants would have received if such holder had exercised their Public
Warrants immediately prior to such event. If less than 70% of the consideration receivable by the holders of Common Stock in such a
transaction is payable in the form of Common Stock in the successor entity that is listed for trading on a national securities
exchange or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following
such event, and if the registered holder of the Public Warrant properly exercises the warrant within 30 days following public
disclosure of such transaction, the warrant exercise price will be reduced as specified in the Warrant Agreement based on the
Black-Scholes value (as defined in the Warrant Agreement) of the warrant. The purpose of such exercise price reduction is to provide
additional value to holders of the Public Warrants when an extraordinary transaction occurs during the exercise period of the
warrants pursuant to which the holders of the warrants otherwise do not receive the full potential value of the warrants. This
formula is to compensate the warrantholder for the loss of the option value portion of the Public Warrant due to the requirement
that the warrantholder exercise the warrant within 30 days of the event. The Black- Scholes model is an accepted pricing model for
estimating fair market value where no quoted market price for an instrument is available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Public
Warrants were issued in registered form under a Warrant Agreement between Continental Stock Transfer&nbsp;&amp; Trust Company, as
warrant agent, and us. The description of the Public Warrants set forth herein is a summary and does not purport to be complete. The
Warrant Agreement provides that the terms of the Public Warrants may be amended without the consent of any holder to cure any
ambiguity or correct any defective provision, and that all other modifications or amendments require the vote or written consent of
the holders of at least a majority of the then outstanding Public Warrants and, solely with respect to any amendment to the terms of
the Private Placement Warrants or Working Capital Warrants, the vote or written consent of a majority of the number of the then
outstanding Private Placement Warrants or Working Capital Warrants is also required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Public
Warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant
agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied by
full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to us, for
the number of Public Warrants being exercised. The warrantholders do not have the rights or privileges of holders of Common Stock or
any voting rights until they exercise their Public Warrants and receive shares of Common Stock. After the issuance of shares of
Common Stock upon exercise of the Public Warrants, each holder will be entitled to one vote for each share held of record on all
matters to be voted on by stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">No fractional shares
will be issued upon exercise of the Public Warrants. If, upon exercise of the Public Warrants, a holder would be entitled to receive a
fractional interest in a share, we will, upon exercise, round down to the nearest whole number of shares of Common Stock to be issued
to the warrantholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We have agreed that,
subject to applicable law, any action, proceeding or claim against us arising out of or relating in any way to the Warrant Agreement will
be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York,
and we irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive forum for any such action, proceeding or claim.
This provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim for which the
federal district courts of the United States of America are the sole and exclusive forum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Private Placement Warrants and Working
Capital Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Private Placement
Warrants and the Working Capital Warrants are identical to the Public Warrants except as set forth below. If holders of the Private Placement
Warrants or Working Capital Warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering their
warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x)&nbsp;the product of the number of shares
of Common Stock underlying the warrants multiplied by the excess of the &ldquo;fair market value&rdquo; (defined below) over the exercise
price of the warrants by (y)&nbsp;the fair market value. The &ldquo;fair market value&rdquo; means the average reported closing price
of the Common Stock for the 10 trading days ending on the third trading day prior to the date on which the notice of warrant exercise
is sent to the warrant agent. The reason that we agreed that these warrants will be exercisable on a cashless basis so long as they are
held by the Sponsor or its permitted transferees is because we did not know whether they would be affiliated with us following the business
combination. If they remained affiliated with us, their ability to sell our securities in the open market will be significantly limited.
We have policies in place that prohibit insiders from selling our securities except during specific periods of time. Even during such
periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities if he or she is in
possession of material non-public information. Accordingly, unlike public stockholders who could exercise their warrants sell the shares
of Common Stock issuable upon exercise of the warrants freely in the open market, the insiders could be significantly restricted from
doing so. As a result, we believe that allowing the holders to exercise such warrants on a cashless basis is appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Additionally, the Private
Placement Warrants and Working Capital Warrants will be non-redeemable so long as they are held by the initial purchasers or their permitted
transferees. If the Private Placement Warrants or Working Capital Warrants are held by someone other than the initial purchasers or their
permitted transferees, the Private Placement Warrants and Working Capital Warrants will be redeemable by the Company and exercisable by
such holders on the same basis as the Public Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">In addition, holders
of our Private Placement Warrants and Working Capital Warrants are entitled to certain registration rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>OrbiMed Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> In
connection with the Credit Agreement and the closing of the Initial Commitment Amount, we issued OrbiMed the Initial OrbiMed Warrant,
with an exercise price of $9.5562, subsequently adjusted to $9.4487 and subject to further adjustment as discussed below, at any time
between issuance and the expiration of the Initial OrbiMed Warrant on April&nbsp;30, 2031. On each of the closings of the Delayed Draw
Commitment Amounts, if any, we agreed to issue Subsequent OrbiMed Warrants to purchase a number of shares of Common Stock determined
by dividing 5% of the applicable Delayed Draw Commitment Amount by the 10-day volume weighted average sale price of Common Stock as of
the issue date. The Subsequent OrbiMed Warrants will expire seven years from each applicable issuance date, if any. In connection with
the OrbiMed Warrants, we entered into the OrbiMed Registration Rights Agreement, whereby OrbiMed will have certain customary registration
rights with respect to the shares of Common Stock underlying the OrbiMed Warrants. If we fail to comply with certain of our obligations
under the OrbiMed Registration Rights Agreement with respect to maintaining an effective registration statement covering shares of Common
Stock underlying the OrbiMed Warrants, then the expiration date of an OrbiMed Warrant may be extended. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We may not knowingly
effect an exercise of an OrbiMed Warrant, and the holder thereof may not exercise an OrbiMed Warrant, if after giving effect to such exercise,
the holder thereof would beneficially own in excess of 9.99% of our Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">In the event of
an issuance or sale by us of any Common Stock, options to purchase Common Stock or securities convertible into Common Stock, other
than in connection with a dividend or distribution to holders of Common Stock or certain specified issuances or sales, for a price
per share less than the exercise price then in effect, the exercise price will be reduced by multiplying such exercise price then in
effect by a fraction, the numerator of which shall be the sum of (i)&nbsp;the number of shares of Common Stock Deemed Outstanding
(as defined below) immediately prior to such sale or distribution multiplied by the exercise price then in effect, plus
(ii)&nbsp;the consideration, if any, received by us upon such sale or distribution, and the denominator of which shall be the
product of (a)&nbsp;the total number of shares of Common Stock Deemed Outstanding immediately after such sale or distribution
multiplied by (b)&nbsp;the exercise price in effect immediately prior to such sale or distribution. As used herein, &ldquo;Common
Stock Deemed Outstanding&rdquo; means, at any given time, the sum of (x)&nbsp;the number of shares of Common Stock actually
outstanding at such time, plus (y)&nbsp;the number of shares of Common Stock issuable upon exercise of warrants, options or similar
rights actually outstanding at such time, plus (z)&nbsp;the number of shares of Common Shares issuable upon conversion or exchange
of convertible securities actually outstanding at such time (treating as actually outstanding any convertible securities issuable
upon exercise of warrants, options or similar rights actually outstanding at such time), in each case, regardless of whether the
warrants, options or similar rights or convertible securities are actually exercisable at such time; provided that Common Stock
Deemed Outstanding at any given time shall not include shares of Common Stock owned or held by or for the account of the Company or
any of its wholly owned subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">If the number of outstanding
shares of our Common Stock is decreased by any redemptions, recapitalizations, reclassifications, combinations or exchanges of shares,
splits or reverse splits, separations, reorganizations, liquidations, substitutions, replacements of shares of Common Stock or other similar
events, then, on the effective date of such event, the number of shares of Common Stock issuable on exercise of each OrbiMed Warrant will
be proportionally decreased, and the exercise price will be proportionally increased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">If we grant, issue,
offer or sell shares of Common Stock, options to purchase Common Stock or securities convertible into Common Stock, or rights to purchase
shares, warrants, securities or other property, in each case pro rata to the record holders of Common Stock, then the holder of each
OrbiMed Warrant shall be entitled to (but shall not be obligated to) acquire, upon the same terms applicable to such rights, the aggregate
rights the holder would have been entitled to had a complete exercise of each OrbiMed Warrant been completed immediately prior to the
date used to determine which holders of Common Stock were entitled to such grant, issuance, offer or sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The OrbiMed Warrants
may be exercised upon surrender of the warrant certificate on or prior to the expiration date to us, with the warrant certificate completed
and executed as indicated, accompanied by full payment of the exercise price (or on a cashless basis, if applicable), for the number of
OrbiMed Warrants being exercised. The warrantholders do not have the rights or privileges of holders of Common Stock or any voting rights
until they exercise their OrbiMed Warrants and receive shares of Common Stock. After the issuance of shares of Common Stock upon exercise
of the OrbiMed Warrants, each holder will be entitled to one vote for each share held of record on all matters to be voted on by stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">No fractional shares
will be issued upon exercise of the OrbiMed Warrants. if, upon exercise of the OrbiMed Warrants, a holder would be entitled to receive
a fractional interest in a share, we will at our option either round up to the nearest whole number of shares of Common Stock or round
down to the nearest whole number of shares of Common Stock to be issued to the warrantholder and pay in cash the amount of such fractional
share based on the fair market value of our Common Stock calculated in the manner described in the OrbiMed Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We have agreed that,
subject to applicable law, the OrbiMed Warrants will be governed by and construed according to the laws of New York, and that any legal
suit, action or proceeding arising out of or based on an OrbiMed Warrant or the transactions contemplated thereby may be instituted in
the federal courts of the United States or the courts of the State of New York, in each case located in the city and county of New York.
We irrevocably submit to such jurisdiction exclusively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> On August 15, 2024, OrbiMed assigned a portion
of the Initial OrbiMed Warrant to its affiliate, OrbiMed Royalty &amp; Credit Opportunities IV Offshore, LP. As of the date of this prospectus,
there are two outstanding Initial OrbiMed Warrants to purchase an aggregate of 130,805 shares of our Common Stock. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We have not paid any
cash dividends on our Common Stock to date. The payment of cash dividends in the future will be dependent upon our revenues and earnings,
if any, capital requirements, general financial condition, contractual restrictions and other factors that the Board may deem relevant
and will be within the discretion of the Board at such time. In addition, our ability to pay dividends may be limited by covenants of
any existing and future outstanding indebtedness that we or our subsidiaries incur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Certain Anti-Takeover Provisions of Delaware
Law and our Certificate of Incorporation and Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">We are subject to the
provisions of Section&nbsp;203 of the DGCL regulating corporate takeovers. This statute prevents certain Delaware corporations, under
certain circumstances, from engaging in a &ldquo;business combination&rdquo; with:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>a stockholder who owns 15% or more of our outstanding voting stock (otherwise known as an &ldquo;interested stockholder&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>an affiliate of an interested stockholder; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>an associate of an interested stockholder, for three years following the date that the stockholder became an interested stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">A &ldquo;business combination&rdquo;
includes a merger or sale of more than 10% of our assets. However, the above provisions of Section&nbsp;203 do not apply if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>our Board approves the transaction that made the stockholder an &ldquo;interested stockholder,&rdquo; prior to the date of the transaction;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>after the completion of the transaction that resulted in the stockholder becoming an interested stockholder, that stockholder owned
at least 85% of our voting stock outstanding at the time the transaction commenced, other than statutorily excluded shares of Common Stock;
or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>on or subsequent to the date of the transaction, the initial business combination is approved by our Board and authorized at a meeting
of our stockholders, and not by written consent, by an affirmative vote of at least two-thirds of the outstanding voting stock not owned
by the interested stockholder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Our Certificate of
Incorporation provides that the Board is classified into three classes of directors, each of which will generally serve for a term of
three years with only one class of directors being elected in each year. As a result, in most circumstances, a person can gain control
of our Board only by successfully engaging in a proxy contest at two or more annual meetings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The authorized but
unissued Common Stock and preferred stock are available for future issuances without stockholder approval and could be utilized for a
variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence
of authorized but unissued and unreserved shares of Common Stock and preferred stock could render more difficult or discourage an attempt
to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Exclusive Forum for Certain Lawsuits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Our Certificate of
Incorporation requires, to the fullest extent permitted by law, that derivative actions brought in our name, actions against directors,
officers and employees for breach of fiduciary duty and other similar actions may be brought only in the Court of Chancery in the State
of Delaware. Although we believe this provision benefits us by providing increased consistency in the application of Delaware law in the
types of lawsuits to which it applies, a court may determine that this provision is unenforceable, and to the extent it is enforceable,
the provision may have the effect of discouraging lawsuits against our directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Despite the fact that
our Certificate of Incorporation provides that the exclusive forum provision will be applicable to the fullest extent permitted by applicable
law, Section&nbsp;27 of the Exchange Act of 1934 and the rules&nbsp;and regulations thereunder, creates exclusive federal jurisdiction
over all suits brought to enforce any duty or liability created by the Exchange Act or the rules&nbsp;and regulations thereunder. As a
result, the exclusive forum provision does not apply to suits brought to enforce any duty or liability created by the Exchange Act or
any other claim for which the federal courts have exclusive jurisdiction. In addition, our Certificate of Incorporation provides that,
unless we consent in writing to the selection of an alternative forum, the federal district courts of the United States of America shall,
to the fullest extent permitted by law, be the exclusive forum for the resolution of any complaint asserting a cause of action arising
under the Securities Act or the rules&nbsp;and regulations promulgated thereunder. We note, however, that there is uncertainty as to whether
a court would enforce this provision and that investors cannot waive compliance with the federal securities laws and the rules&nbsp;and
regulations thereunder. Section&nbsp;22 of the Securities Act creates concurrent jurisdiction for state and federal courts over all suits
brought to enforce any duty or liability created by the Securities Act or the rules&nbsp;and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Special Meeting of Stockholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Our Bylaws provide
that special meetings of our stockholders may be called only by a majority vote of our Board, by our Chief Executive Officer or by our
Chairman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Advance Notice Requirements for Stockholder
Proposals and Director Nominations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Our
Bylaws provide that stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for
election as directors at our annual meeting of stockholders, must provide timely notice of their intent in writing. To be timely, a
stockholder&rsquo;s notice will need to be received by the Company&rsquo;s secretary at our principal executive offices not later
than the close of business on the 90th day nor earlier than the opening of business on the 120th day prior to the anniversary date
of the immediately preceding annual meeting of stockholders. Pursuant to Rule&nbsp;14a-8 of the Exchange Act, proposals seeking
inclusion in our annual proxy statement must comply with the notice periods contained therein. Our Bylaws also specify certain
requirements as to the form and content of a stockholders&rsquo; meeting. These provisions may preclude our stockholders from
bringing matters before our annual meeting of stockholders or from making nominations for directors at our annual meeting of
stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Action by Written Consent</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Any action required
or permitted to be taken by holders of our Common Stock must be effected by a duly called annual or special meeting of such stockholders
and may not be effected by written consent of the stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Transfer Agent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The transfer agent
for our securities is Continental Stock Transfer&nbsp;&amp; Trust Company. The transfer agent&rsquo;s address is One State Street Plaza,
30 Floor New York, New York 10004.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Listing of Common Stock and Public Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Our Common Stock is
currently traded on the Nasdaq Global Market under the symbol &ldquo;TLSI.&rdquo; Our Public Warrants currently trade on the Nasdaq Global
Market under the symbol &ldquo;TLSIW.&rdquo; The Private Placement Warrants, Working Capital Warrants and Initial OrbiMed Warrant are
not listed on a securities exchange nor traded in an over-the-counter market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_001"></A>MATERIAL UNITED STATES FEDERAL
INCOME TAX CONSEQUENCES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Material U.S. Federal Tax Consequences
to Non-U.S. Holders of our Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The
following is a summary of certain material U.S. federal income tax consequences to non-U.S. holders (as defined below) of the
ownership and disposition of our Common Stock offered pursuant to this prospectus. This discussion is not a complete analysis of all
potential U.S. federal income tax consequences relating thereto, does not address the potential application of the Medicare
contribution tax on net investment income, the alternative minimum tax provisions of the Internal Revenue Code of 1986 as amended
(the &ldquo;Code&rdquo;), or the special tax accounting rules&nbsp;under Section&nbsp;451(b)&nbsp;of the Code, and does not address
any U.S. federal non-income tax consequences such as estate or gift tax consequences or any tax consequences arising under any
state, local, or non-U.S. tax laws, or any other U.S. federal tax laws. This discussion is based on the Code and applicable Treasury
Regulations promulgated thereunder, judicial decisions and published rulings, and administrative pronouncements of the Internal
Revenue Service (the &ldquo;IRS&rdquo;), all as in effect as of the date hereof. These authorities are subject to differing
interpretations and may change, possibly retroactively, resulting in U.S. federal income tax consequences different from those
discussed below. We have not requested a ruling from the IRS with respect to the statements made and the conclusions reached in the
following summary, and there can be no assurance that the IRS or a court will agree with such statements and conclusions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">This discussion is
limited to non-U.S. holders who purchase our Common Stock offered by this prospectus and who hold our Common Stock as a &ldquo;capital
asset&rdquo; within the meaning of Section&nbsp;1221 of the Code (generally, property held for investment). This discussion does not address
all of the U.S. federal income tax consequences that may be relevant to a particular holder in light of such holder&rsquo;s particular
circumstances. This discussion also does not consider any specific facts or circumstances that may be relevant to holders subject to special
rules&nbsp;under the U.S. federal income tax laws, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>certain former citizens or long-term residents of the United States;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>partnerships or other entities or arrangements treated as partnerships, S corporations or other pass-through entities, or disregarded
entities for U.S. federal income tax purposes (and investors therein);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&ldquo;controlled foreign corporations;&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&ldquo;passive foreign investment companies;&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>corporations that accumulate earnings to avoid U.S. federal income tax;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>banks, financial institutions, investment funds, insurance companies, brokers or dealers in securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>persons who have elected to mark securities to market;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>tax-exempt organizations and governmental organizations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>tax-qualified retirement plans;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>persons that acquired our Common Stock through the exercise of employee stock options or otherwise as compensation or through a tax-qualified
retirement plan;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>persons that acquired our Common Stock pursuant to the exercise of warrants or conversion rights under convertible instruments;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>persons who hold Common Stock that constitutes &ldquo;qualified small business stock&rdquo; under Section&nbsp;1202 of the Code, or
 &ldquo;Section&nbsp;1244 stock&rdquo; under Section&nbsp;1244 of the Code; persons who acquired our Common Stock in a transaction subject
to the gain rollover provisions of the Code (including Section&nbsp;1045 of the Code);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>persons that own, or have owned, actually or constructively, more than 5% of our Common Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>&ldquo;qualified foreign pension funds&rdquo; as defined in Section&nbsp;897(l)(2)&nbsp;of the Code and entities all of the interests
of which are held by qualified foreign pension funds; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>persons holding our Common Stock as part of a hedging or conversion transaction or straddle, or a constructive sale, or other risk
reduction strategy or integrated investment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">If an entity or arrangement
that is classified as a partnership for U.S. federal income tax purposes holds our Common Stock, the U.S. federal income tax treatment
of a partner in the partnership will generally depend on the status of the partner, the activities of the partnership and certain determinations
made at the partner level. Partnerships holding our Common Stock and the partners in such partnerships are urged to consult their tax
advisors about the particular U.S. federal income tax consequences to them of holding and disposing of our Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">THIS DISCUSSION IS
FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TAX ADVICE. PROSPECTIVE INVESTORS SHOULD CONSULT THEIR TAX ADVISORS REGARDING THE PARTICULAR
U.S. FEDERAL INCOME TAX CONSEQUENCES TO THEM OF ACQUIRING, OWNING, AND DISPOSING OF OUR COMMON STOCK, AS WELL AS ANY TAX CONSEQUENCES
ARISING UNDER ANY STATE, LOCAL, OR NON-U.S. TAX LAWS AND ANY U.S. FEDERAL NON-INCOME TAX LAWS, OR UNDER ANY APPLICABLE INCOME TAX TREATY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Definition of non-U.S. Holder</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">For
purposes of this discussion, a non-U.S. holder is any beneficial owner of our Common Stock that is not a &ldquo;U.S. person&rdquo;
or a partnership (including any entity or arrangement treated as a partnership) for U.S. federal income tax purposes. A U.S. person
is any person that, for U.S. federal income tax purposes, is or is treated as any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>an individual who is a citizen or resident of the United States;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>a corporation (or entity treated as a corporation for U.S. federal income tax purposes) created or organized under the laws of the
United States, any state thereof or the District of Columbia;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>an estate, the income of which is subject to U.S. federal income tax regardless of its source; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>a trust (1)&nbsp;whose administration is subject to the primary supervision of a U.S. court and which has one or more U.S. persons
who have the authority to control all substantial decisions of the trust or (2)&nbsp;that has a valid election in effect
under applicable Treasury Regulations to be treated as a U.S. person.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Distributions on Our Common Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Since inception, we
have never declared or paid any cash dividends on our capital stock, and we do not anticipate declaring or paying, in the foreseeable
future, any cash dividends on our capital stock. However, if we make cash or other property distributions on our Common Stock, such distributions
will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits,
as determined under U.S. federal income tax principles. Amounts that exceed such current and accumulated earnings and profits and, therefore,
are not treated as dividends for U.S. federal income tax purposes will constitute a return of capital and will first be applied against
and reduce a holder&rsquo;s tax basis in our Common Stock, but not below zero. Any amount distributed in excess of basis will be treated
as gain realized on the sale or other disposition of our Common Stock and will be treated as described under the section titled &ldquo;Gain
on disposition of our Common Stock&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Subject
to the discussions below regarding effectively connected income, backup withholding, and Sections 1471 through 1474 of the Code, or
FATCA, dividends paid to a non-U.S. holder of our Common Stock generally will be subject to U.S. federal withholding tax at a rate
of 30% of the gross amount of the dividends or such lower rate specified by an applicable income tax treaty. To receive the benefit
of a reduced treaty rate, a non-U.S. holder must furnish us or the applicable withholding agent with a valid IRS Form&nbsp;W-8BEN or
IRS Form&nbsp;W-8BEN-E (or other appropriate form, or applicable successor form) certifying such holder&rsquo;s qualification for
the reduced rate. This certification must be provided to us or the applicable withholding agent before the payment of dividends and
must be updated periodically. In the case of a non-U.S. Holder that is an entity, Treasury Regulations and the relevant tax treaty
provide rules&nbsp;to determine whether, for purposes of determining the applicability of the tax treaty, dividends will be treated
as paid to the entity or to those holding an interest in the entity. If the non-U.S. holder holds the stock through a financial
institution or other agent acting on the non-U.S. holder&rsquo;s behalf, the non-U.S. holder will be required to provide appropriate
documentation to the agent, which then will be required to provide certification to us or the applicable withholding agent, either
directly or through other intermediaries. Non-U.S. holders that do not provide the required certification on a timely basis, but
that qualify for a reduced treaty rate, may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for
refund with the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">If
a non-U.S. holder holds our Common Stock in connection with the conduct of a trade or business in the United States, and dividends
paid on our Common Stock are effectively connected with such holder&rsquo;s U.S. trade or business (and are attributable to such
holder&rsquo;s permanent establishment or fixed base in the United States, if required by an applicable tax treaty), the non-U.S.
holder will generally be exempt from U.S. federal withholding tax. To claim the exemption, the non-U.S. holder must generally
furnish a valid IRS Form&nbsp;W-8ECI (or applicable successor form) to the applicable withholding agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">However, any such effectively
connected dividends paid on our Common Stock generally will be subject to U.S. federal income tax on a net income basis at the regular
U.S. federal income tax rates in the same manner as if such holder were a resident of the United States. A non-U.S. holder that is a foreign
corporation also may be subject to an additional branch profits tax equal to 30% (or such lower rate specified by an applicable income
tax treaty) of its effectively connected earnings and profits for the taxable year, as adjusted for certain items. Non-U.S. holders should
consult their tax advisors regarding any applicable income tax treaties that may provide for different rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Gain on Disposition of Our Common Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Subject to the discussions
below regarding backup withholding and FATCA, a non-U.S. holder generally will not be subject to U.S. federal income tax on any gain realized
on the sale or other disposition of our Common Stock, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the gain is effectively connected with the non-U.S. holder&rsquo;s conduct of a trade or business in the United States and, if required
by an applicable income tax treaty, is attributable to a permanent establishment or fixed base maintained by the non-U.S. holder in the
United States;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>the non-U.S. holder is a nonresident alien individual present in the United States for 183 days or more during the taxable year of
the disposition, and certain other requirements are met; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>our Common Stock constitutes a &ldquo;United States real property interest&rdquo; by reason of our status as a United States real
property holding corporation, or USRPHC, for U.S. federal income tax purposes at any time within the shorter of the five-year period preceding
the disposition or the non-U.S. holder&rsquo;s holding period for our Common
Stock, and our Common Stock is not regularly traded on an established securities market as defined by applicable Treasury Regulations</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Determining whether
we are a USRPHC depends on the fair market value of our U.S. real property interests relative to the fair market value of our other trade
or business assets and our foreign real property interests. We do not believe that we are, or have been, and do not anticipate becoming
a USRPHC for U.S. federal income tax purposes, although there can be no assurance we will not in the future become a USRPHC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Gain
described in the first bullet point above generally will be subject to U.S. federal income tax on a net income basis at the regular
U.S. federal income tax rates in the same manner as if such holder were a resident of the United States. A non-U.S. holder that is a
foreign corporation also may be subject to an additional branch profits tax equal to 30% (or such lower rate specified by an
applicable income tax treaty) of its effectively connected earnings and profits for the taxable year, as adjusted for certain items.
A non-U.S. holder described in the second bullet point above will be subject to U.S. federal income tax at a flat 30% rate (or such
lower rate specified by an applicable income tax treaty) on gain realized upon the sale or other taxable disposition of our Common
Stock, but may be offset by certain U.S.-source capital losses (even though the individual is not considered a resident of the
United States), provided that the non-U.S. holder has timely filed U.S. federal income tax returns with respect to such losses. Gain
described in the third bullet point above will generally be subject to U.S. federal income tax in the same manner as gain that is
effectively connected with the conduct of a U.S. trade or business, except that the branch profits tax generally will not apply.
Non-U.S. holders should consult their tax advisors regarding any applicable income tax treaties that may provide for different
rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Information Reporting and Backup Withholding</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Annual reports are
required to be filed with the IRS and provided to each non-U.S. holder indicating the amount of distributions on our Common Stock paid
to such holder and the amount of any tax withheld with respect to those distributions. These information reporting requirements apply
even if no withholding was required (because the distributions were effectively connected with the holder&rsquo;s conduct of a U.S. trade
or business, or withholding was reduced or eliminated by an applicable income tax treaty) and regardless of whether such distributions
constitute dividends. This information also may be made available under a specific treaty or agreement with the tax authorities in the
country in which the non-U.S. holder resides or is established. Backup withholding, currently at a 24% rate, generally will not apply
to payments to a non-U.S. holder of dividends on or the gross proceeds of a disposition of our Common Stock provided the non-U.S. holder
furnishes the required certification for its non-U.S. status, such as by providing a valid IRS Form&nbsp;W-8BEN,&nbsp;IRS Form&nbsp;W-8BEN-E,
or IRS Form&nbsp;W-8ECI, or certain other requirements are met. Backup withholding may apply if the payor has actual knowledge, or reason
to know, that the holder is a U.S. person who is not an exempt recipient.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Backup
withholding is not an additional tax. If any amount is withheld under the backup withholding rules, the non-U.S. holder should consult
with a U.S. tax advisor regarding the possibility of and procedure for obtaining a refund or a credit against the non-U.S. holder&rsquo;s
U.S. federal income tax liability, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B><I>Withholding on Foreign Entities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">FATCA imposes a U.S.
federal withholding tax of 30% on certain payments made to a &ldquo;foreign financial institution&rdquo; (as specially defined under these
rules) unless such institution enters into an agreement with the U.S. government to withhold on certain payments and to collect and provide
to the U.S. tax authorities substantial information regarding certain U.S. account holders of such institution (which includes certain
equity and debt holders of such institution, as well as certain account holders that are foreign entities with U.S. owners) or an exemption
applies. FATCA also generally will impose a U.S. federal withholding tax of 30% on certain payments made to a non-financial foreign entity
unless such entity provides the withholding agent a certification identifying certain direct and indirect U.S. owners of the entity or
an exemption applies. An intergovernmental agreement between the United States and an applicable foreign country may modify these requirements.
Under certain circumstances, a non-U.S. holder might be eligible for refunds or credits of such taxes. FATCA applies to dividends paid
on our Common Stock and, subject to the proposed Treasury Regulations described below, also applies to gross proceeds from sales or other
dispositions of our Common Stock. The U.S. Treasury Department has released proposed Treasury Regulations which, if finalized in their
present form, would eliminate the federal withholding tax of 30% applicable to the gross proceeds of a disposition of our Common Stock.
In its preamble to such proposed Treasury Regulations, the U.S. Treasury Department stated that taxpayers (including applicable withholding
agents) may generally rely on the proposed Treasury Regulations until final regulations are issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Prospective investors
are encouraged to consult with their own tax advisors regarding the possible implications of this legislation on their investment in our
Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_002"></A>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> We
are registering the resale by the Selling Securityholders or their respective permitted transferees from time to time of up to 130,805
shares of Common Stock that are issuable upon the exercise of the Initial OrbiMed Warrant issued to OrbiMed in a private placement in
connection with the Credit Agreement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> We
are required to pay all fees and expenses incident to the registration of the securities to be offered and sold pursuant to this prospectus,
including with regard to compliance with state securities or &ldquo;blue sky&rdquo; laws. The Selling Securityholders will bear all commissions
and discounts, if any, attributable to its sale of securities. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> We
will not receive any of the proceeds from the sale of the securities by the Selling Securityholders. We will receive proceeds from the
exercise of the Initial OrbiMed Warrant in the event such warrant is exercised for cash. The aggregate proceeds to the Selling Securityholders
will be the purchase price of the securities less any discounts and commissions borne by the Selling Securityholders. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> The
securities beneficially owned by the Selling Securityholders covered by this prospectus may be offered and sold from time to time by
the Selling Securityholders. The term &ldquo;Selling Securityholders&rdquo; includes donees, pledgees, transferees or other successors
in interest selling securities received after the date of this prospectus from the Selling Securityholders as a gift, pledge, partnership
distribution or other transfer. The Selling Securityholders will act independently of us in making decisions with respect to the timing,
manner and size of each sale. Such sales may be made on one or more exchanges or in the over-the-counter market or otherwise. These sales
may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying
prices determined at the time of sale, or at negotiated prices. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> The
Selling Securityholders may sell their respective securities by one or more of, or a combination of, the following methods: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>purchases by a broker-dealer as principal and resale by such broker-dealer for its own account pursuant to this prospectus;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>ordinary brokerage transactions and transactions in which the broker solicits purchasers;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>block trades in which the broker-dealer so engaged will attempt to sell the shares as agent but may position and resell a portion
of the block as principal to facilitate the transaction;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>an over-the-counter distribution in accordance with the rules&nbsp;of Nasdaq;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> through
                                            trading plans entered into by the Selling Securityholders pursuant to Rule&nbsp;10b5-1 under
                                            the Exchange Act, that are in place at the time of an offering pursuant to this prospectus
                                            and any applicable prospectus supplement hereto that provide for periodic sales of their
                                            securities on the basis of parameters described in such trading plans; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>short sales;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> distribution
                                            to employees, members, limited partners or securityholders of the Selling Securityholders; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>through the writing or settlement of options or other hedging transaction, whether through an options exchange or otherwise;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>by pledge to secured debts and other obligations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>delayed delivery arrangements;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>to or through underwriters or broker-dealers;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>in &ldquo;at the market&rdquo; offerings, as defined in Rule&nbsp;415 under the Securities Act, at negotiated prices, at prices prevailing
at the time of sale or at prices related to such prevailing market prices, including sales made directly on a national securities exchange
or sales made through a market maker other than on an exchange or other similar offerings through
sales agents;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>in privately negotiated transactions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>in options transactions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>through a combination of any of the above methods of sale; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>any other method permitted pursuant to applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">In addition, any securities
that qualify for sale pursuant to Rule&nbsp;144 may be sold under Rule&nbsp;144 rather than pursuant to this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> To
the extent required, this prospectus may be amended or supplemented from time to time to describe a specific plan of distribution. In
connection with distributions of the securities or otherwise, the Selling Securityholders may enter into hedging transactions with broker-dealers
or other financial institutions. In connection with such transactions, broker-dealers or other financial institutions may engage in short
sales of the securities in the course of hedging the positions they assume with the Selling Securityholders. The Selling Securityholders
may also sell the securities short and redeliver the securities to close out such short positions. The Selling Securityholders may also
enter into option or other transactions with broker-dealers or other financial institutions which require the delivery to such broker-dealer
or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution
may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). The Selling Securityholders may also
pledge securities to a broker-dealer or other financial institution, and, upon a default, such broker-dealer or other financial institution,
may effect sales of the pledged securities pursuant to this prospectus (as supplemented or amended to reflect such transaction). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> In
effecting sales, broker-dealers or agents engaged by the Selling Securityholders may arrange for other broker-dealers to participate.
Broker-dealers or agents may receive commissions, discounts or concessions from the Selling Securityholders in amounts to be negotiated
immediately prior to the sale. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> In
connection with any sales of securities offered hereunder, the Selling Securityholders and any underwriters, agents, brokers or dealers
participating in such sales may be deemed to be &ldquo;underwriters&rdquo; within the meaning of the Securities Act. Any profits realized
by the Selling Securityholders and the compensation of any broker-dealer may be deemed to be underwriting discounts and commissions.
If a Selling Securityholder is an &ldquo;underwriter&rdquo; within the meaning of Section&nbsp;2(11) of the Securities Act, then such
Selling Securityholder will be subject to the prospectus delivery requirements of the Securities Act. At the time a particular offer
of securities is made, if required, a prospectus supplement will be distributed that will set forth the number of securities being offered
and the terms of the offering, including the name of any underwriter, dealer or agent, the purchase price paid by any underwriter, any
discount, commission and other item constituting compensation, any discount, commission or concession allowed or reallowed or paid to
any dealer, and the proposed selling price to the public. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">In order to comply
with the securities laws of certain states, if applicable, the securities must be sold in such jurisdictions only through registered or
licensed brokers or dealers. In addition, in certain states the securities may not be sold unless they have been registered or qualified
for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> We
have advised the Selling Securityholders that the anti-manipulation rules&nbsp;of Regulation M under the Exchange Act may apply to sales
of securities in the market and to the activities of the Selling Securityholders and their affiliates. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> In
addition, we will make copies of this prospectus available to the Selling Securityholders for the purpose of satisfying the prospectus
delivery requirements of the Securities Act. The Selling Securityholders may indemnify any broker-dealer that participates in transactions
involving the sale of the securities against certain liabilities, including liabilities arising under the Securities Act. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">A holder of the Initial
OrbiMed Warrant may exercise the Initial OrbiMed Warrant in accordance with the Initial OrbiMed Warrant on or before the expiration date
set forth therein by surrendering, at the office of the warrant agent, Continental Stock Transfer&nbsp;&amp; Trust Company, the certificate
evidencing Initial OrbiMed Warrant, with the form of election to purchase set forth thereon, properly completed and duly executed, accompanied
by full payment of the exercise price, subject to any applicable provisions relating to cashless exercises in accordance with the Initial
OrbiMed Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> We
have agreed to indemnify the Selling Securityholders against certain liabilities, including liabilities under the Securities Act and
state securities laws, relating to the registration of the shares offered by this prospectus. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> Pursuant
to the OrbiMed Registration Rights Agreement, we have agreed to keep the registration statement of which this prospectus constitutes
a part effective until such time as (A)&nbsp;such shares have been disposed of pursuant to an effective registration statement, (B)&nbsp;such
shares are sold pursuant to Rule&nbsp;144, (C)&nbsp;the Selling Securityholders are able to dispose of all of the shares without restriction
or limitation pursuant to Rule&nbsp;144 and all restrictive legends and stop transfer instructions have been removed with respect to
such shares or (D)&nbsp;the expiration date of the Initial OrbiMed Warrant. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_003"></A>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The validity of our
Common Stock covered by this prospectus has been passed upon for us by Cooley LLP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_004"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> The
consolidated financial statements of TriSalus Life Sciences, Inc. as of <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000182666724000005/tlsi-20231231.htm">December
31, 2023</A> and <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000141057823000332/mtac-20221231x10k.htm">2022</A>,
and for the years then ended, have been incorporated by reference herein in reliance upon the report of KPMG LLP, independent registered
public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_005"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have filed with the SEC a registration statement on Form&nbsp;S-3 under the Securities Act, with respect to the securities being offered
by this prospectus. This prospectus, which constitutes part of the registration statement, does not contain all of the information in
the registration statement and its exhibits. For further information with respect to us and the securities offered by this prospectus,
we refer you to the registration statement and its exhibits. Statements contained in this prospectus as to the contents of any contract
or any other document referred to are not necessarily complete, and in each instance, we refer you to the copy of the contract or other
document filed as an exhibit to the registration statement. Each of these statements is qualified in all respects by this reference. You
can read our SEC filings, including the registration statement, over the internet at </FONT>www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to the information reporting requirements of the Exchange Act, and we file reports, proxy statements, and other information
with the SEC. These reports, proxy statements, and other information will be available for review at the SEC&rsquo;s website at </FONT>www.sec.gov.
We also maintain a website at www.trisaluslifesci.com. Through our website, we make available, free of charge, the documents that are
filed with, or furnished to, the SEC as soon as reasonably practicable after they are filed with, or furnished to, the SEC, including
our Annual Reports on Form&nbsp;10-K; our proxy statements for our annual and special stockholder meetings; our Quarterly Reports on
Form&nbsp;10-Q; our Current Reports on Form&nbsp;8-K; Forms 3, 4, and 5 and Schedules 13D with respect to our securities filed on behalf
of our directors and our executive officers; and amendments to those documents. Unless incorporated by reference herein in the section
titled &ldquo;<I>Incorporation of Certain Information by Reference</I>,&rdquo; the information contained on, or that may be accessed
through, our website is not a part of, and is not incorporated into, this prospectus. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_006"></A>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The SEC allows us to &ldquo;incorporate
by reference&rdquo; the information we file with it, which means that we can disclose important information to you by referring you to
those documents. The information incorporated by reference is considered to be part of this prospectus and information we file later with
the SEC will automatically update and supersede this information. Any statement contained in this prospectus or a previously filed document
incorporated by reference will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained
in this prospectus or a subsequently filed document incorporated by reference modifies or replaces that statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The documents we are incorporating
by reference as of their respective dates of filing are (other than Current Reports or portions thereof furnished under Item 2.02 or Item
7.01 of Form&nbsp;8-K and exhibits filed on such form that are related to such items and other portions of documents that are furnished,
but not filed, or are otherwise not incorporated into registration statements pursuant to applicable rules&nbsp;promulgated by the SEC):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD><TD>our Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2023, filed with the SEC on <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000182666724000005/tlsi-20231231.htm">April&nbsp;11, 2024</A>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> the
                                            information specifically incorporated by reference into our <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000182666724000005/tlsi-20231231.htm" STYLE="-sec-extract: exhibit">Annual
                                            Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2023</A> from our definitive
                                            proxy statement on Schedule 14A, filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1826667/000182666724000034/trisalus-2024formproxyx711.htm">July&nbsp;19,
                                            2024</A>; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> our
                                            Quarterly Reports on Form&nbsp;10-Q for the quarters ended March&nbsp;31, 2024 and June&nbsp;30,
                                            2024 filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000182666724000017/tlsi-20240331.htm" STYLE="-sec-extract: exhibit">May&nbsp;15,
                                            2024</A> and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000182666724000039/tlsi-20240630.htm" STYLE="-sec-extract: exhibit">August&nbsp;14,
                                            2024</A>, respectively; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> our
                                            Current Reports on Form&nbsp;8-K filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924006749/tm244105d1_8k.htm" STYLE="-sec-extract: exhibit">January&nbsp;25,
                                            2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924033157/tm248546d1_8k.htm" STYLE="-sec-extract: exhibit">March&nbsp;12,
                                            2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924047373/tm2411884d1_8k.htm" STYLE="-sec-extract: exhibit">April&nbsp;16,
                                            2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924055007/tm2413063d1_8k.htm" STYLE="-sec-extract: exhibit">April&nbsp;30,
                                            2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924057985/tm2413673d1_8k.htm" STYLE="-sec-extract: exhibit">May&nbsp;7,
                                            2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924064883/tm2415396d1_8k.htm" STYLE="-sec-extract: exhibit">May&nbsp;24,
                                            2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924075234/tm2418344d1_8k.htm" STYLE="-sec-extract: exhibit">June&nbsp;27,
                                            2024</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924076841/tm2418573d1_8k.htm" STYLE="-sec-extract: exhibit">July&nbsp;1,
                                            2024</A> and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000110465924089936/tm2421775d1_8k.htm" STYLE="-sec-extract: exhibit">August&nbsp;15,
                                            2024</A>; and </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD><TD> the
                                            description of our securities contained in <A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000182666724000039/ex47-descriptionofsecuriti.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;4.7</A>
                                            to our Quarterly Report on Form&nbsp;10-Q for the quarter ended June&nbsp;30, 2024, filed
                                            with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1826667/000182666724000039/tlsi-20240630.htm" STYLE="-sec-extract: exhibit">August&nbsp;14,
                                            2024</A>, together with any amendment or report filed with the SEC for the purpose of updating
                                            such description. </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">All documents we subsequently file
pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d)&nbsp;of the Exchange Act, prior to the termination of this offering, including all
such documents we may file after the date of the initial registration statement of which this prospectus forms a part and prior to the
effectiveness of the registration statement, but excluding any information furnished to, rather than filed with, the SEC, will also be
incorporated by reference into this prospectus and deemed to be part of this prospectus from the date of the filing of such reports and
documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">You may obtain any of the documents
incorporated by reference in this prospectus from the SEC through the SEC&rsquo;s website at the address provided above. You also may
request a copy of any document incorporated by reference in this prospectus (excluding any exhibits to those documents, unless the exhibit
is specifically incorporated by reference in this document), at no cost, by writing or telephoning us at the following address and phone
number:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TriSalus Life Sciences,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">6272 W. 91<SUP>st</SUP> Ave.,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Westminster, CO 80031</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(888) 321-5212</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART&nbsp;II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION NOT REQUIRED IN
PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Item 14. Other Expenses of Issuance and
Distribution.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The
following table sets forth all costs and expenses, other than underwriting discounts and commissions, payable by us in connection with
the sale of the securities being registered. All amounts shown are estimates except for the SEC registration fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Amount</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 87%; text-align: left">SEC registration fee</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">122.51</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Accountants&rsquo; fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">50,000.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Legal fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">100,000.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Miscellaneous fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">75,000.00</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">Total expenses</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">225,122.51</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> Discounts,
concessions, commissions and similar selling expenses attributable to the sale of shares of Common Stock covered by this prospectus will
be borne by the Selling Securityholders. We will pay all expenses (other than discounts, concessions, commissions and similar selling
expenses) relating to the registration of the shares with the SEC, as estimated in the table above. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Item 15. Indemnification of Directors
and Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Section&nbsp;145 of
the DGCL provides that a corporation may indemnify directors and officers as well as other employees and individuals against expenses
(including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in
connection with any threatened, pending or completed actions, suits or proceedings in which such person is made a party by reason of such
person being or having been a director, officer, employee or agent of the Registrant. The DGCL provides that Section&nbsp;145 is not exclusive
of other rights to which those seeking indemnification may be entitled under any bylaws, agreement, vote of stockholders or disinterested
directors or otherwise. The Registrant&rsquo;s Certificate of Incorporation and Bylaws provide for indemnification by the Registrant of
its directors and officers to the fullest extent permitted by the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Section&nbsp;102(b)(7)&nbsp;of
the DGCL permits a corporation to provide in its Certificate of Incorporation that a director or officer of the corporation shall
not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or
officer, except for liability (1)&nbsp;for any breach of the director&rsquo;s or officer&rsquo;s duty of loyalty to the corporation
or its stockholders, (2)&nbsp;for a director&rsquo;s or officer&rsquo;s acts or omissions not in good faith or which involve
intentional misconduct or a knowing violation of law, (3)&nbsp;for a director, unlawful payments of dividends or unlawful stock
repurchases redemptions or other distributions, (4)&nbsp;for a director or officer, any transaction from which the director or
officer derived an improper personal benefit or (5)&nbsp;for an officer, any action by or in the right of the corporation. The
Registrant&rsquo;s Certificate of Incorporation provides for such limitation of liability to the fullest extent permitted by the
DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Registrant has
entered into indemnification agreements with each of its directors and executive officers to provide contractual indemnification in addition
to the indemnification provided in our Certificate of Incorporation. Each indemnification agreement provides for indemnification and advancements
by the Registrant of certain expenses and costs relating to claims, suits or proceedings arising from his or her service to the Registrant
or, at our request, service to other entities, as officers or directors to the maximum extent permitted by applicable law. We believe
that these provisions and agreements are necessary to attract qualified directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">The Registrant also
maintains standard policies of insurance under which coverage is provided (1)&nbsp;to its directors and officers against loss arising
from claims made by reason of breach of duty or other wrongful act, while acting in their capacity as directors and officers of the Registrant
and (2)&nbsp;to the Registrant with respect to payments which may be made by the Registrant to such officers and directors pursuant to
any indemnification provision contained in the Registrant&rsquo;s Certificate of Incorporation and Bylaws or otherwise as a matter of
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Item 16. Exhibits and Financial Statement
Schedules.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
<TD STYLE="text-align: left; width: 0.25in">(a)</TD><TD>Exhibits.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The exhibits listed below are filed as part
of this registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; text-align: center"><B>Incorporated by Reference</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><B>Schedule/</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 3.2pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; border-bottom: #231F20 1pt solid; padding-left: 9.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 41%; border-bottom: #231F20 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: #231F20 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: #231F20 1pt solid; text-align: center; width: 10%; padding-left: 3.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>File
    Number</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: #231F20 1pt solid; width: 6%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibits</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: #231F20 1pt solid; width: 18%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filing
    Date</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1&dagger;**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement
    and Plan of Merger, dated as of November&nbsp;11, 2022, by and among MedTech Acquisition Corporation, MTAC Merger Sub,&nbsp;Inc.,
    and TriSalus Life Sciences,&nbsp;Inc</FONT>.</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November&nbsp;14,
    2022</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923042182/tm2311821d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923042182/tm2311821d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">First
    Amendment to Agreement and Plan of Merger, dated as of April&nbsp;4, 2023, by and among MedTech Acquisition Corporation, MTAC Merger
    Sub,&nbsp;Inc., and TriSalus Life Sciences,&nbsp;Inc.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923042182/tm2311821d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923042182/tm2311821d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923042182/tm2311821d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923042182/tm2311821d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April&nbsp;5,
    2023</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923060142/tm2315541d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923060142/tm2315541d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
    Amendment to Agreement and Plan of Merger, dated as of May&nbsp;13, 2023, by and among MedTech Acquisition Corporation, MTAC Merger
    Sub,&nbsp;Inc., and TriSalus Life Sciences,&nbsp;Inc.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923060142/tm2315541d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923060142/tm2315541d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923060142/tm2315541d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923060142/tm2315541d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;15,
    2023</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923078462/tm2320024d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923078462/tm2320024d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Third
    Amendment to Agreement and Plan of Merger, dated as of July&nbsp;5, 2023, by and among MedTech Acquisition Corporation, MTAC Merger
    Sub,&nbsp;Inc., and TriSalus Life Sciences,&nbsp;Inc.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923078462/tm2320024d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923078462/tm2320024d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923078462/tm2320024d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923078462/tm2320024d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July&nbsp;6,
    2023</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
    Amended and Restated Certificate of Incorporation of TriSalus Life Sciences,&nbsp;Inc.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August&nbsp;16,
    2023</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended
    and Restated Bylaws of TriSalus Life Sciences,&nbsp;Inc.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August&nbsp;16,
    2023</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of
    Certificate of Designations, Preferences and Rights of Series&nbsp;A Convertible Preferred Stock of TriSalus Life Sciences,&nbsp;Inc.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex3-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August&nbsp;16,
    2023</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
    Common Stock Certificate.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August&nbsp;16,
    2023</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
    Warrant Certificate.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465923092586/tm2321991d1_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August&nbsp;16,
    2023</FONT></A></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465920139004/tm2039161d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.6**</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 42%"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465920139004/tm2039161d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrant
    Agreement, dated December&nbsp;17, 2020, by and between MTAC and Continental Stock Transfer&nbsp;&amp; Trust Company.</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465920139004/tm2039161d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 10%; padding-left: 2.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465920139004/tm2039161d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465920139004/tm2039161d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 18%; text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465920139004/tm2039161d1_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December&nbsp;23,
    2020</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of
    Amended and Restated Registration Rights Agreement, by and among TriSalus Life Sciences,&nbsp;Inc., MedTech Acquisition Sponsor LLC,
    and certain former stockholders of TriSalus Life Sciences,&nbsp;Inc.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465922117666/tm2230343d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November&nbsp;14,
    2022</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000182666724000017/a44registrationrightsagree.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.8**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000182666724000017/a44registrationrightsagree.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration
    Rights Agreement, dated April&nbsp;30, 2024, by and between TriSalus Life Sciences,&nbsp;Inc., and OrbiMed Royalty&nbsp;&amp; Credit
    Opportunities IV, LP.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000182666724000017/a44registrationrightsagree.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;10-Q</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000182666724000017/a44registrationrightsagree.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 7.35pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000182666724000017/a44registrationrightsagree.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000182666724000017/a44registrationrightsagree.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;15,
    2024</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924075234/tm2418344d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.9**</FONT></A> </TD>
    <TD> &nbsp; </TD>
    <TD> <A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924075234/tm2418344d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment
    No.&nbsp;1 to Warrant Agreement, dated June&nbsp;26, 2024, by and between the Company and Continental Stock Transfer&nbsp;&amp; Trust
    Company.</FONT></A> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924075234/tm2418344d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;8-K</FONT></A> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924075234/tm2418344d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-39813</FONT></A> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center; padding-left: 7.35pt"> <A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924075234/tm2418344d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></A> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> <A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924075234/tm2418344d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June&nbsp;27,
    2024</FONT></A> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <A HREF="tm2426916d3_ex4-10.htm" STYLE="-sec-extract: exhibit">4.10*</A> </TD>
    <TD> &nbsp; </TD>
    <TD> <A HREF="tm2426916d3_ex4-10.htm" STYLE="-sec-extract: exhibit">Substitute Warrant Certificate, dated August 15, 2024, by and
    between TriSalus Life Sciences, Inc., and OrbiMed Royalty &amp; Credit Opportunities IV, LP.</A> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center; padding-left: 7.35pt"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <A HREF="tm2426916d3_ex4-11.htm">4.11*</A> </TD>
    <TD> &nbsp; </TD>
    <TD> <A HREF="tm2426916d3_ex4-11.htm">Substitute Warrant Certificate, dated August 15, 2024, by and between TriSalus Life Sciences,
    Inc., and OrbiMed Royalty &amp; Credit Opportunities IV Offshore, LP.</A> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center; padding-left: 7.35pt"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion
    of Cooley LLP.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;S-1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">333-280197</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June&nbsp;14,
    2024</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <A HREF="tm2426916d3_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1*</FONT></A> </TD>
    <TD> &nbsp; </TD>
    <TD> <A HREF="tm2426916d3_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of KPMG LLP, independent registered public accounting firm.</FONT></A> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: center"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of Cooley LLP (included in Exhibit&nbsp;5.1).</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;S-1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">333-280197</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xex5d1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June&nbsp;14,
    2024</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xs1.htm#SIGNATURES_639644" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xs1.htm#SIGNATURES_639644" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power
    of Attorney (included on signature page&nbsp;of S-1).</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xs1.htm#SIGNATURES_639644" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;S-1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xs1.htm#SIGNATURES_639644" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">333-280197</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xs1.htm#SIGNATURES_639644" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xs1.htm#SIGNATURES_639644" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June&nbsp;14,
    2024</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xexfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107**</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xexfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing
    Fee Table.</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xexfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;S-1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xexfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">333-280197</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xexfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1826667/000110465924071480/tlsi-20240331xexfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June&nbsp;14,
    2024</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.5pt; text-align: justify; text-indent: -47.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.5pt; text-align: justify; text-indent: -47.9pt">**&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Previously filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt">&dagger; &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Certain of the exhibits and schedules
to this Exhibit&nbsp;have been omitted in accordance with Regulation S-K Item 601(a)(5). The Registrant agrees to furnish a copy of all
omitted exhibits and schedules to the SEC upon its request; provided, however, that the Registrant may request confidential treatment
pursuant to Rule&nbsp;24b-2 of the Exchange Act, as amended, for any schedule or exhibit so furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-align: justify; text-indent: 0.25in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>Item 17. Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD>The undersigned registrant hereby undertakes as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
<TD STYLE="width: 0.25in">(1)</TD><TD>To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>To include any prospectus required by Section&nbsp;10(a)(3)&nbsp;of the Securities Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth
in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar
value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;if, in the aggregate,
the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation
of Registration Fee&rdquo; table in the effective registration statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>To include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">provided, however, that: Paragraphs (a)(1)(i),
(a)(1)(ii)&nbsp;and (a)(1)(iii)&nbsp;of this section do not apply if the registration statement is on Form&nbsp;S-3 and the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission
by the registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d)&nbsp;of the Exchange Act, that are incorporated by reference in the
registration statement, or is contained in a form of prospectus filed pursuant to Rule&nbsp;424(b)&nbsp;that is part of the registration
statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>That, for the purpose of determining any liability under the Securities Act, each such post- effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>That, for the purpose of determining liability under the Securities Act to any purchaser:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>Each prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(3)&nbsp;shall be deemed to be part of the registration statement
as of the date the filed prospectus was deemed part of and included in the registration statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>Each prospectus required to be filed pursuant to Rule&nbsp;424(b)(2), (b)(5)&nbsp;or (b)(7)&nbsp;as part of a registration statement
in reliance on Rule&nbsp;430B relating to an offering made pursuant to Rule&nbsp;415(a)(1)(i), (vii)&nbsp;or (x)&nbsp;for the purpose
of providing the information required by Section&nbsp;10(a)&nbsp;of the
Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of
prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in
the prospectus. As provided in Rule&nbsp;430B, for liability purposes of the issuer and any person that is at that date an
underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the
registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part
of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement
or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such
effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the
registration statement or made in any such document immediately prior to such effective date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>That, for the purpose of determining liability of the registrant under the Securities Act each filing of the Registrant&rsquo;s annual
report pursuant to Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the Exchange Act (and, where applicable, each filing of an employee benefit
plan&rsquo;s annual report pursuant to Section&nbsp;15(d)&nbsp;of the Exchange Act) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that
a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in"> Pursuant
to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this Post-Effective Amendment No.1 to registration
statement on Form&nbsp;S-1 on Form&nbsp;S-3 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of
Westminster, State of Colorado, on this 29th day of October, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">TRISALUS LIFE
    SCIENCES,&nbsp;INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"> <FONT STYLE="font-size: 10pt">/s/ Mary Szela</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Mary Szela</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.25in">Pursuant to the requirements
of the Securities Act of 1933, as amended, this Post-Effective Amendment No.&nbsp;1 to registration statement on Form&nbsp;S-1 on Form&nbsp;S-3
has been signed by the following persons in the capacities, in the locations and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font: bold 10pt Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font-size: 10pt">Signature</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font: bold 10pt Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font-size: 10pt">Title</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font: bold 10pt Times New Roman, Times, Serif; width: 24%"> <FONT STYLE="font-size: 10pt">Date</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">/s/
    Mary Szela</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Chief Executive
    Officer and Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Mary Szela</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><I>(Principal
    Executive Officer)</I></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">/s/
    Sean Murphy</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Chief Financial
    Officer and Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Sean Murphy</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(Principal
    Financial and Accounting Officer)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Mats Wahlstr&ouml;m</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Arjun &ldquo;JJ&rdquo;
    Desai</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Andrew von
    Eschenbach</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Kerry Hicks</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Liselotte
    Hyveled</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; width: 24%"> <FONT STYLE="font-size: 10pt"><B>Date</B></FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">George Kelly
    Martin</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">David J. Matlin</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">October&nbsp;29, 2024</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Anil Singhal</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*By:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Mary Szela</FONT></TD>
<TD STYLE="width: 14%">&nbsp;</TD>
<TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2">Mary Szela </TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2">Attorney-in-Fact</TD>
<TD>&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.10
<SEQUENCE>2
<FILENAME>tm2426916d3_ex4-10.htm
<DESCRIPTION>EXHIBIT 4.10
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.10</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><I>Execution Version</I></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WARRANT CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS WARRANT CERTIFICATE AND
THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE &ldquo;SECURITIES ACT&rdquo;), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY&nbsp;NOT BE OFFERED FOR SALE, SOLD,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I)&nbsp;A REGISTRATION STATEMENT COVERING THE OFFER AND SALE OF SUCH
SECURITIES IS EFFECTIVE UNDER THE SECURITIES ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II)&nbsp;THE TRANSACTION
IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE SECURITIES ACT AND THE QUALIFICATION REQUIREMENTS UNDER
APPLICABLE STATE AND FOREIGN LAW AND,&nbsp;IN EACH CASE,&nbsp;IF THE COMPANY REQUESTS, AN OPINION SATISFACTORY TO THE COMPANY TO SUCH
EFFECT HAS BEEN RENDERED BY COUNSEL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20%">Warrant Shares Issuable:</TD><TD STYLE="width: 80%; text-align: left">92,801
Common Shares</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>Issue Date:</TD><TD STYLE="text-align: left">August&nbsp;15,
2024 (Substitute Warrant Certificate #1 to Initial Certificate April&nbsp;30, 2024)</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED, TRISALUS
LIFE SCIENCES,&nbsp;INC., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), hereby certifies that ORBIMED ROYALTY&nbsp;&amp;
CREDIT OPPORTUNITIES IV, LP, a Delaware limited partnership (the &ldquo;<B><I>Initial Holder</I></B>&rdquo; and, together with its successors
and permitted transferees and assigns, a &ldquo;<B><I>Holder</I></B>&rdquo;) is entitled to purchase, at the per share Exercise Price,
up to Ninety-Two Thousand Eight Hundred and One (92,801) fully paid and nonassessable Common Shares (as subject to adjustment hereunder,
the &ldquo;<B><I>Warrant Shares</I></B>&rdquo;), all subject to the terms, conditions and adjustments set forth below in this Warrant
Certificate. Certain capitalized terms used herein are defined in <B>Section&nbsp;1</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Warrant Certificate is
being issued as a Substitute Warrant Certificate as defined in and pursuant to the Assignment dated August&nbsp;15, 2024, by and between
OrbiMed Royalty&nbsp;&amp; Credit Opportunities IV Offshore, LP and Initial Holder with respect to the Warrant Certificate issued April&nbsp;30,
2024 (the &ldquo;<B><I>Initial Certificate</I></B>&rdquo;). The Initial Certificate was issued as a condition precedent to the making
of loans under and pursuant to the Credit Agreement, dated as of April&nbsp;30, 2024 (as amended or otherwise modified from time to time,
the &ldquo;<B><I>Credit Agreement</I></B>&rdquo;), among TriSalus Operating Life Sciences,&nbsp;Inc., as borrower, the Company, the lenders
party thereto, and OrbiMed Royalty&nbsp;&amp; Credit Opportunities IV, LP, as the administrative agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Definitions.</B>
Capitalized terms used in this Warrant Certificate but not defined herein have the meanings ascribed thereto in the Credit Agreement as
in effect on the date hereof. The following terms when used herein have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Aggregate Exercise
Price</I></B>&rdquo; means, with respect to any exercise of this Warrant Certificate for Warrant Shares, an amount equal to the product
of (i)&nbsp;the number of Warrant Shares in respect of which this Warrant Certificate is then being exercised pursuant to <B>Section&nbsp;3</B>,
multiplied by (ii)&nbsp;the Exercise Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR>
</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Bloomberg</I></B>&rdquo;
has the meaning set forth within the definition of &ldquo;VWAP&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Cashless Exercise</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;3(b)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Charter</I></B>&rdquo;
means the Second Amended and Restated Certificate of Incorporation of the Company, as amended as of August&nbsp;10, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Common Shares</I></B>&rdquo;
means the Company&rsquo;s common stock, par value $0.0001 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Common Shares
Deemed Outstanding</I></B>&rdquo; means, at any given time, the sum of (i)&nbsp;the number of Common Shares actually outstanding at such
time, plus (ii)&nbsp;the number of Common Shares issuable upon exercise of Options actually outstanding at such time, plus (iii)&nbsp;the
number of Common Shares issuable upon conversion or exchange of Convertible Securities actually outstanding at such time (treating as
actually outstanding any Convertible Securities issuable upon exercise of Options actually outstanding at such time), in each case, regardless
of whether the Options or Convertible Securities are actually exercisable at such time; provided that Common Shares Deemed Outstanding
at any given time shall not include shares owned or held by or for the account of the Company or any or its wholly owned subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Company</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Convertible Securities</I></B>&rdquo;
means any Capital Securities that, directly or indirectly, are convertible into, exchangeable or settleable for Common Shares, including
shares of the Company&rsquo;s preferred stock that may be issued from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Credit Agreement</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Determination
Date</I></B>&rdquo; has the meaning set forth in the definition of &ldquo;VWAP&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exchange Act</I></B>&rdquo;
means the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exercise Certificate</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;3(a)(i)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exercise Date</I></B>&rdquo;
means, for any given exercise of this Warrant Certificate, whether in whole or in part, a Business Day on which the conditions to such
exercise as set forth in <B>Section&nbsp;3</B> shall have been satisfied at or prior to 5:00 p.m., New York City time, including, without
limitation, the receipt by the Company of the Exercise Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exercise Period</I></B>&rdquo;
means the period from (and including) the Issue Date to (and including) 5:00 p.m., New York City time, on the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exercise Price</I></B>&rdquo;
means $9.5562, as adjusted from time to time pursuant to <B>Section&nbsp;4</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Expiration Date</I></B>&rdquo;
means April&nbsp;30, 2031.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Fair Market Value</I></B>&rdquo;
means (i)&nbsp;if the Common Shares are traded on a Trading Market, the VWAP of such Common Shares for such day (provided that if the
Fair Market Value is being determined in connection with a Sale of the Company, such Fair Market Value shall be the greater of the amount
determined pursuant to this clause (i)&nbsp;and the closing price on the Trading Market on the Trading Day immediately prior to the closing
date of the Sale of the Company) or (ii)&nbsp;if at any time the Common Shares are not listed, quoted or otherwise available for trading
on any Trading Market (so that no Trading Day shall have occurred), or if VWAP cannot be calculated for the Common Shares for such day
for any other reason, the &ldquo;<B><I>Fair Market Value</I></B>&rdquo; of such Common Shares shall be the fair market value per share
of such Common Shares as determined jointly by the Company and the Holder; <U>provided further</U>, that, in the event the Company and
Holder are unable to so mutually agree, Fair Market Value shall be determined pursuant to <B>Section&nbsp;10(a)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Holder</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Independent Advisor</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;10(a)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Initial Holder</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Issue Date</I></B>&rdquo;
means the date designated as such on the first page&nbsp;of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Marketable Securities</I></B>&rdquo;
means equity securities meeting each of the following requirements: (i)&nbsp;the issuer thereof is subject to the reporting requirements
of Section&nbsp;13 or Section&nbsp;15(d)&nbsp;of the Exchange Act, and is current in its filing of all required reports and other information
under the Securities Act and the Exchange Act; (ii)&nbsp;such equity securities are traded on a Trading Market; and (iii)&nbsp;if delivered
(or to be delivered) as payment or compensation to the Holder in connection with an automatic Cashless Exercise pursuant to <B>Section&nbsp;3(c)</B>,
following the closing of the related Sale of the Company, the Holder would not be restricted from publicly re-selling all of such equity
securities delivered to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Nasdaq</I></B>&rdquo;
means The Nasdaq Stock Market LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>NYSE</I></B>&rdquo;
means the New York Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Options</I></B>&rdquo;
means any warrants, options or similar rights to subscribe for or purchase Common Shares or Convertible Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Original Issue
Date</I></B>&rdquo; means April&nbsp;30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>OTC Bulletin
Board</I></B>&rdquo; means the Financial Industry Regulatory Authority,&nbsp;Inc. OTC Bulletin Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Pre-emptive Rights</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;12</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Registration
Statement</I></B>&rdquo; means, in connection with any public offering of securities, any registration statement required pursuant to
the Securities Act that covers the offer and sales of any such securities, including any prospectus, amendments or supplements to such
Registration Statement, including post-effective amendments and all exhibits and all materials incorporated by reference in such Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Rule&nbsp;144&rdquo;</I></B>
means Rule&nbsp;144 promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Sale of the Company</I></B>&rdquo;
means a transaction pursuant to which (i)&nbsp;(x)&nbsp;any Person or group of Persons acting jointly or otherwise in concert (other than
the Holder and any other parties to the Credit Agreement) acquires ownership, directly or indirectly, beneficially or of record, of Capital
Securities of the Company having more than fifty percent (50%) of the aggregate economic interests and/or voting power, determined on
a fully diluted basis, (y)&nbsp;any Person or group of Persons acting jointly or otherwise in concert (other than the Holder and any other
parties to the Credit Agreement) acquires, by contract or otherwise, the right to appoint or elect a majority of the Company&rsquo;s board
of directors (the &ldquo;<B><I>Board</I></B>&rdquo;), or (z)&nbsp;all or substantially all of the assets of the Company and its Subsidiaries,
taken as a whole, are sold, leased, exclusively licensed, transferred, conveyed or otherwise disposed of, and (ii)&nbsp;all Obligations
outstanding under the Credit Agreement are to be paid in full in cash, whether pursuant to the terms of the transaction, pursuant to the
terms of the Credit Agreement or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>SEC</I></B>&rdquo;
means the Securities and Exchange Commission or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Share Distribution</I></B>&rdquo;
means any issuance or sale by the Company of any of its Common Shares, Options or Convertible Securities, other than in connection with
a dividend or distribution to holders of its Common Shares of the type described in Section&nbsp;4(c)&nbsp;below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Share Reorganization</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;4(a)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Trading Day</I></B>&rdquo;
means, with respect to the Common Shares or any other Marketable Securities, a date on which the relevant Trading Market is open and conducting
business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Trading Market</I></B>&rdquo;
means, with respect to the Common Shares or any other Marketable Securities, the Nasdaq, the NYSE or the OTC Bulletin Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Unrestricted
Conditions</I></B>&rdquo; has the meaning set forth in <B>Section&nbsp;11(a)(ii)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>VWAP</I></B>&rdquo;
means, with respect to any Common Shares, as of any day of determination (a &ldquo;<B><I>Determination Date</I></B>&rdquo;), the volume
weighted average sale price for the period of ten (10)&nbsp;consecutive Trading Days immediately preceding such Determination Date on
the Trading Market for such Common Shares as reported by, or based upon data reported by, Bloomberg Financial Markets or an equivalent,
reliable reporting service reasonably acceptable to the Holder and the Company (collectively, &ldquo;<B><I>Bloomberg</I></B>&rdquo;) or,
if the volume weighted average sale price has not been reported for such security by Bloomberg for such ten (10)&nbsp;day period, then
the simple average of the last closing trade prices of such security for such ten (10)&nbsp;day period, as reported by Bloomberg, or,
if no last closing trade price is reported for such security by Bloomberg, the simple average of the bid prices of any market makers for
such security that are listed in the over the counter market by the Financial Industry Regulatory Authority,&nbsp;Inc. or on the OTC Bulletin
Board (or any successor) or in the &ldquo;pink sheets&rdquo; (or any successor) by the OTC Markets Group,&nbsp;Inc. over such ten (10)&nbsp;day
period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Warrant Certificate</I></B>&rdquo;
means this Warrant Certificate and all subsequent warrant certificates issued upon division, combination or transfer of, or in substitution
for, this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Warrant Register</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;5</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Warrant Shares</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;2.&#8239;&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;Term of Warrant Certificate.</B> Subject to the terms and conditions hereof, from time to time during
the Exercise Period, the Holder of this Warrant Certificate may exercise this Warrant Certificate for all or any part of the Warrant
Shares purchasable hereunder (subject to adjustment as provided herein).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;3.&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Exercise of Warrant Certificate</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Exercise
Procedure</B>. This Warrant Certificate may be exercised from time to time on any Business Day during the Exercise Period, for all or
any part of the unexercised Warrant Shares, upon:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;delivery
to the Company at its then registered office of a duly completed and executed Exercise Certificate in the form attached hereto as <B>Exhibit&nbsp;A</B>
(each, an &ldquo;<B><I>Exercise Certificate</I></B>&rdquo;), which certificate will specify the number of Warrant Shares to be purchased
and the Aggregate Exercise Price; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;simultaneously
with the delivery of the Exercise Certificate, payment to the Company of the Aggregate Exercise Price in accordance with <B>Section&nbsp;3(b)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Payment
of the Aggregate Exercise Price.</B> Payment of the Aggregate Exercise Price shall be made, at the option of the Holder as set forth in
the applicable Exercise Certificate, by any of the following methods:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;by
wire transfer of immediately available funds to an account designated in writing by the Company, in the amount of such Aggregate Exercise
Price;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;by
instructing the Company to withhold a number of Warrant Shares then issuable upon exercise of this Warrant Certificate with an aggregate
Fair Market Value as of the Exercise Date equal to such Aggregate Exercise Price; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
combination of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of any withholding of Warrant Shares
pursuant to <B>Section&nbsp;3(b)(ii)</B>&nbsp;or <B>(iii)</B>&nbsp;(solely to the extent of such withholding, a &ldquo;<B><I>Cashless
Exercise</I></B>&rdquo;) where the number of shares whose value is equal to the Aggregate Exercise Price is not a whole number, the number
of shares withheld by the Company shall be rounded up to the nearest whole share and the Company shall make a cash payment to the Holder
(by delivery of a certified or official bank check or by wire transfer of immediately available funds) based on the incremental fraction
of a share being so withheld by the Company in an amount equal to the product of (x)&nbsp;such incremental fraction of a share being so
withheld multiplied by (y)&nbsp;the Fair Market Value per Warrant Share as of the Exercise Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Automatic
Cashless Exercise.</B> To the extent this Warrant Certificate has not been exercised in full by the Holder prior to the earlier of (i)&nbsp;the
occurrence of the Expiration Date, and (ii)&nbsp;the date on which a Sale of the Company is consummated pursuant to which the sole consideration
payable to the Company or its shareholders in respect of such sale transaction consists of cash, Marketable Securities or a combination
thereof, any portion of this Warrant Certificate that remains unexercised on such date shall be deemed to have been exercised automatically
pursuant to a Cashless Exercise, in whole (and not in part), on the Business Day immediately preceding such date; <U>provided</U>, that
the automatic Cashless Exercise contemplated by this <B>Section&nbsp;3(c)&nbsp;</B>shall not occur in the event that, as of the Business
Day immediately preceding any such date described above, the per share Fair Market Value of a Warrant Share is less than the Exercise
Price per Warrant Share, in which case, this Warrant Certificate shall automatically expire and be of no further force and effect as of
the Expiration Date or immediately prior to the consummation of the Sale of the Company, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent permitted by applicable Law, for
purposes of Rule&nbsp;144, (i)&nbsp;the Warrant Shares issuable upon any exercise of this Warrant Certificate in any Cashless Exercise
transaction shall be deemed to have been acquired on the Original Issue Date, and (ii)&nbsp;the holding period for any Warrant Shares
issuable upon the exercise of this Warrant Certificate in any Cashless Exercise transaction shall be deemed to have commenced on the Original
Issue Date; <U>provided</U> that the Company makes no representation or warranty regarding the commencement of the holding period of any
Warrant Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Delivery
of Stock Certificates</B>. With respect to any exercise of this Warrant Certificate by the Holder, upon receipt by the Company of an Exercise
Certificate and delivery of the Aggregate Exercise Price, the Company shall, within five (5)&nbsp;Business Days, deliver in accordance
with the terms hereof to or upon the order of the Holder that number of Warrant Shares for the portion of this Warrant Certificate so
exercised on such date, together with cash in lieu of any fraction of a share to the extent the Company elects to do so pursuant to <B>Section&nbsp;3(e</B>)&nbsp;below.
If such Warrant Shares are issued in certificated form, the Company shall deliver a certificate or certificates, to the extent possible,
representing the number of Warrant Shares as the Holder shall request in the Exercise Certificate. If such Warrant Shares are issued in
uncertificated form, the Company shall deliver upon request a confirmation evidencing the registration of such shares. Unless otherwise
provided herein, upon any exercise in accordance with the terms of this Warrant Certificate, this Warrant Certificate shall be deemed
to have been exercised and such certificate or certificates of Warrant Shares shall be deemed to have been issued, and the Holder shall
be deemed to have become a holder of record of such Warrant Shares for all purposes, as of the Exercise Date. Unless otherwise permitted
by federal or state securities laws, rules&nbsp;or regulations, any share certificates issued pursuant to the exercise of this Warrant
Certificate will bear a legend in substantially the form set out in <B>Section&nbsp;11(a)(i)</B>&nbsp;below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>No
Fractional Shares or Scrip</B>. No fractional or scrip representing fractional shares shall be issued upon the exercise of this Warrant
Certificate. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall
at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the
Fair Market Value of one Warrant Share on the Exercise Date or round up to the next whole share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(f)<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Surrender
of this Warrant Certificate; Delivery of New Warrant Certificate.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder shall not be required to physically surrender this Warrant Certificate to the Company until this Warrant Certificate has been exercised
in full by the Holder, in which case, the Holder shall, at the written request of the Company, surrender this Warrant Certificate to the
Company for cancellation within three (3)&nbsp;Business Days after the date the final Exercise Certificate is delivered to the Company.
Partial exercises of this Warrant Certificate resulting in purchases of a portion of the total number of Warrant Shares available hereunder
shall have the effect of lowering the outstanding number of Warrant Shares issuable hereunder by an amount equal to the applicable number
of Warrant Shares that have been issued hereunder as a result of previous exercises or withheld in connection with any Cashless Exercises.
The Holder and the Company shall maintain records showing the number of Warrant Shares issued and purchased, the date of such issuances
and purchases and the number of Warrant Shares withheld in connection with any Cashless Exercises. The Holder and any assignee, by acceptance
of this Warrant Certificate, acknowledge and agree that, by reason of the provisions of this <B>Section&nbsp;3(f)</B>, following the purchase
of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be fewer
than the amount stated on the face hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Notwithstanding
the foregoing, to the extent that there are unexpired and unexercised Warrant Shares remaining under the Warrant Certificate, the Holder
may request that the Company (and the Company shall), at the time of issuance of any Warrant Shares in accordance with <B>Section&nbsp;3(d)</B>&nbsp;and
the surrender of this Warrant Certificate, deliver to the Holder a new Warrant Certificate evidencing the rights of the Holder to subscribe
for the unexpired and unexercised Warrant Shares called for by this Warrant Certificate. Unless otherwise agreed upon by the Holder in
its sole discretion, such new Warrant Certificate shall in all other respects be identical to this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Valid
Issuance of Warrant Certificate and Warrant Shares; Payment of Taxes</B>. With respect to the exercise of this Warrant Certificate, the
Company hereby represents, warrants, covenants and agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Warrant Certificate is, and any Warrant Certificate issued in substitution for or replacement of this Warrant Certificate shall be, upon
issuance, duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;All
Warrant Shares issuable upon the exercise of this Warrant Certificate (or any substitute or replacement Warrant Certificate) shall be,
upon issuance, and the Company shall take all such actions as may be necessary or appropriate in order that such Warrant Shares are, validly
issued, fully paid and non-assessable, issued without violation of any preemptive or similar rights of any shareholder of the Company
and free and clear of all liens and charges (other than liens or charges created by the Holder, or created with regard to income taxes
or other taxes payable by the Holder incurred in connection with the exercise of the Warrant or taxes in respect of any transfer made
by the Holder occurring contemporaneously therewith).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall take all such actions as may be necessary to (x)&nbsp;comply with <B>Section&nbsp;3(i)</B>&nbsp;below and (y)&nbsp;ensure
that all such Warrant Shares are issued without violation by the Company of any applicable Law or any requirements of any foreign or domestic
securities exchange upon which Warrant Shares may be listed at the time of such exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall exclusively bear and pay all expenses in connection with, and all governmental charges, taxes, fees, levies, withholdings
and all other such payments, that may be imposed on or with respect to, the issuance of this Warrant Certificate, and the issuance or
delivery of Warrant Shares pursuant to the terms of this Warrant Certificate and the Holder shall not be affected by such payments, and
the Company shall not be eligible to any indemnification for such payment from the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(v)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company is a corporation duly organized and validly existing under the Laws of the State of Delaware and has the capacity and corporate
power and authority to enter into this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(vi)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company has taken all action required to be taken to authorize the execution, delivery and performance of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(vii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Warrant Certificate has been duly executed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(viii)&#8239;&#8239;&#8239;&#8239;&#8239;The
obligations of the Company under this Warrant Certificate are legal, valid and binding obligations, enforceable against the Company in
accordance with the terms hereof, except to the extent that enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting creditors&rsquo; rights generally and by general equitable principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ix)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
of the Issue Date, the Company has complied with all obligations set forth in <B>Section&nbsp;3(i)</B>, below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(h)&#8239;&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;<B>Conditional Exercise</B>. Notwithstanding any other provision hereof, if an exercise of all or any portion
of this Warrant Certificate is to be made in connection with a Sale of the Company, such exercise may, at the election of the
Holder, be conditioned upon the consummation of such transaction, in which case such exercise shall not be deemed to be effective
until immediately prior to the consummation of such transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Reservation
of Shares</B>. The Company shall at all times during the Exercise Period reserve and keep available out of its authorized but unissued
Common Shares or (if applicable) other securities constituting Warrant Shares, solely for the purpose of issuance upon the exercise of
this Warrant Certificate, the maximum number of Warrant Shares issuable upon the exercise of this Warrant Certificate. The Company shall
not increase the par value of any Warrant Shares receivable upon the exercise of this Warrant Certificate above the Exercise Price then
in effect, and shall take all such actions within its power as may be necessary or appropriate in order that the Company may validly and
legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Rule&nbsp;144
Compliance</B>. With a view to making available to the Holder the benefits of Rule&nbsp;144 and any other rule&nbsp;or regulation of the
SEC that may at any time permit a holder to sell securities of the Company to the public without registration or pursuant to a Registration
Statement, the Company shall, during the Exercise Period while any portion of this Warrant Certificate remains unexercised:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;use
commercially reasonable efforts to make and keep adequate public information available, as required by clause (c)&nbsp;of Rule&nbsp;144;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;use
commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company under
the Securities Act and the Exchange Act (excluding, for avoidance of doubt, any prospectus or registration statement which the Company
is under no obligation to file); and</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;furnish,
or otherwise make available to the Holder so long as the Holder owns Warrant Shares, promptly upon request, a written statement by the
Company as to its compliance with the reporting requirements of Rule&nbsp;144 and the Exchange Act, a copy of the most recent annual or
quarterly report of the Company, and such other reports and documents so filed or furnished by the Company with the SEC under the Exchange
Act or Securities Act as the Holder may reasonably request in connection with the sale of Common Shares without registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Ownership
Cap</B>. The Company shall not knowingly effect the exercise of this Warrant Certificate, and the Holder shall not have the right to exercise
this Warrant Certificate to the extent that, after giving effect to such exercise, the Holder (together with its Affiliates) would beneficially
own in excess of 9.99% of the Common Shares of the Company immediately after giving effect to such exercise. For purposes of the foregoing
sentence, the aggregate number of Common Shares owned by the Holder and its Affiliates shall include the number of Warrant Shares issuable
upon exercise of this Warrant Certificate with respect to which the determination of such aggregate number is being made, but shall exclude
Common Shares (if any) that would be issuable upon (i)&nbsp;exercise of the remaining, unexercised portion of this Warrant Certificate
beneficially owned by the Holder and its Affiliates and (ii)&nbsp;exercise or conversion of the unexercised or unconverted portion of
any other Capital Securities of the Company beneficially owned by the Holder and its Affiliates (including, without limitation, any Convertible
Securities) subject to a limitation on conversion or exercise analogous to the limitations contained herein. Except as set forth in the
preceding sentence, for purposes of this <B>Section&nbsp;3(k)</B>, beneficial ownership shall be calculated in accordance with Section&nbsp;13(d)&nbsp;of
the Exchange Act. For purposes of this Warrant Certificate, in determining the number of outstanding Common Shares, the Holder of this
Warrant Certificate may rely on the number of such outstanding Capital Securities as reflected in the most recent of (i)&nbsp;the Company&rsquo;s
Form&nbsp;10-K, Form&nbsp;10-Q or other public filing with the SEC, as the case may be, if available, (ii)&nbsp;a more recent public announcement
by the Company, or (iii)&nbsp;any other notice by the Company or its transfer agent setting forth the number of outstanding Common Shares.
In addition, upon the written request of the Holder (but not more than once during any calendar quarter), the Company shall, within three
(3)&nbsp;Business Days, confirm to the Holder the number of its outstanding Common Shares. Furthermore, upon the written request of the
Company (but not more than once during any calendar quarter), the Holder shall promptly confirm to the Company its then current beneficial
ownership with respect to the Company&rsquo;s Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Except
as expressly provided herein with respect to cash payments in lieu of the issuance of fractional shares, and without regard to any exchange
of consideration in connection with an automatic Cashless Exercise pursuant to <B>Section&nbsp;3(c)</B>&nbsp;above or similar event, upon
exercise of this Warrant Certificate the Holder shall not otherwise be entitled to receive cash or Warrant Shares that are registered
under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Adjustment
to Number of Warrant Shares, Exercise Price,&nbsp;etc</B>. The number of Warrant Shares issuable upon exercise of this Warrant Certificate
shall be subject to adjustment from time to time as provided in this <B>Section&nbsp;4</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Adjustment
to Number of Warrant Shares Upon Reorganizations, Reclassifications,&nbsp;etc</B>. In the event of any changes in the outstanding Common
Shares of the Company by reason of redemptions, recapitalizations, reclassifications, combinations or exchanges of shares, splits or reverse
splits, separations, reorganizations, liquidations, substitutions, replacements or the like (any of the foregoing or combination thereof
being a &ldquo;<B><I>Share Reorganization</I></B>&rdquo;), the number and class of Warrant Shares available upon exercise of this Warrant
Certificate in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of this Warrant Certificate,
on exercise for the same Aggregate Exercise Price, the total number, class, and kind of shares as the Holder would have owned had this
Warrant Certificate been exercised prior to any such event and had the Holder continued to hold such Warrant Shares until after the event
requiring adjustment. The form of this Warrant Certificate need not be changed because of any adjustment in the number of Warrant Shares
subject to this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Adjustment
to Exercise Price Upon a Share Distribution</B>. </FONT>Subject to <B>clause (iii)</B>&nbsp;below, if the Company consummates or effects
any Share Distribution for a price per Common Share less than the Exercise Price then in effect, then, effective upon such Share Distribution,
the Exercise Price shall be reduced to a price determined by multiplying the Exercise Price then in effect by a fraction, the numerator
of which shall be the sum of (A)&nbsp;the number of Common Shares Deemed Outstanding immediately prior to such Share Distribution multiplied
by the Exercise Price then in effect, plus (B)&nbsp;the consideration, if any, received by the Company upon such Share Distribution, and
the denominator of which shall be the product of (1)&nbsp;the total number of Common Shares Deemed Outstanding immediately after such
Share Distribution multiplied by (2)&nbsp;the Exercise Price in effect immediately prior to such Share Distribution. For purposes of this
<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Section&nbsp;4(b)</B>:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
the event Options or Convertible Securities are included in any such Share Distribution, the price per Common Share deemed to have been
issued or sold as a result of the sale or issuance of such Options or Convertible Securities, shall be equal to the price per Common Share
for which Common Shares are issuable upon the exercise of such Options or upon conversion or exchange of such Convertible Securities,
as the case may be (determined by dividing (x)&nbsp;the aggregate amount, if any, received or receivable by the Company as consideration
for the issuance, sale, distribution or grant of all such Options or Convertible Securities, plus the minimum aggregate amount of additional
consideration payable to the Company, if any, upon the exercise of all such Options or the conversion or exchange of all such Convertible
Securities (as the case may be), by (y)&nbsp;the total maximum number of Common Shares issuable upon the exercise of all such Options
or upon the conversion or exchange of all such Convertible Securities (without, in each case, giving effect to any anti-dilution provisions
included in such Options or Convertible Securities that are not applicable at the time of the applicable price per Common Share calculations)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
provisions of this <B>Section&nbsp;4(b)</B>&nbsp;shall not in any event operate to increase the Exercise Price<FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
<B>Section&nbsp;4(b)</B>&nbsp;shall not apply to any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">Any issuance, sale or other distribution of Common Shares, Options or Convertible Securities pursuant
to (i)&nbsp;any Share Reorganization, which shall instead be governed by <B>Section&nbsp;4(a)</B>&nbsp;above, or (ii)&nbsp;any dividend
or distribution to holders of Common Shares, which shall instead by governed by <B>Section&nbsp;4(c)</B>&nbsp;below.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">The issuance of Common Shares upon exercise or conversion of any Options or Convertible Securities included
in the Common Shares Deemed Outstanding as of the Original Issue Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">The grant or issuance of Common Shares, Options or Convertible Securities to board members, officers,
employees, consultants or other service providers of the Company pursuant to any employee incentive plan, employee share purchase plan
or similar equity-based benefit plans (including any inducement award granted in accordance with the Nasdaq Listing Rules) approved by
the Company&rsquo;s Board or duly authorized committee thereof; <U>provided</U> that the total number of securities issued under this
sub-clause for a price per share less than the Exercise Price shall not constitute more than five percent (5.0%) of the total number of
Common Shares Deemed Outstanding at any time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Adjustment
to Number of Warrant Shares Upon Dividends, Distributions,&nbsp;etc</B>. If the Company declares or pays a dividend or distribution on
its outstanding Common Shares payable in cash, Capital Securities or other property, the Holder shall be entitled to receive, at the time
such dividend or distribution is paid, without additional cost to the Holder, the total number and kind of cash, Capital Securities or
other property which the Holder would have received had the Holder owned the Warrant Shares of record as of the date such dividend or
distribution was paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Certificate
as to Adjustment</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
promptly as reasonably practicable following any change or adjustment of the type described above in this <B>Section&nbsp;4</B>, but in
any event not later than ten (10)&nbsp;Business Days thereafter, the Company shall furnish to the Holder a certificate of an Authorized
Officer setting forth in reasonable detail such adjustment and the facts upon which it is based and certifying the calculation thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
promptly as reasonably practicable following the receipt by the Company of a written request by the Holder, but in any event not later
than ten (10)&nbsp;Business Days thereafter, the Company shall furnish to the Holder a certificate of an Authorized Officer certifying
the number of Warrant Shares or the amount, if any, of other shares, securities or assets then issuable upon exercise of the Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Notices</B>.
In the event that, at any time during the Exercise Period the Company shall take a record of the holders of its outstanding Common Shares
(or other Capital Securities at the time issuable upon exercise of this Warrant Certificate) for the purpose of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;entitling
or enabling such holders to receive any dividend or other distribution, to receive any right to subscribe for or purchase any shares
of any class or any other securities, or to receive any other security;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(x)&nbsp;any
capital reorganization of the Company, any reclassification of any outstanding securities, any consolidation or merger of the Company
with or into another Person, or (y)&nbsp;a Sale of the Company; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
voluntary or involuntary dissolution, liquidation or winding-up bankruptcy or similar event involving the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">then, and in each such case, the Company shall
send or cause to be sent to the Holder at least ten (10)&nbsp;Business Days prior to the applicable record date or the applicable expected
effective date, as the case may be, for the event, a written notice specifying, as the case may be, (A)&nbsp;the record date for such
dividend, distribution or other right or action, and a description of such dividend, distribution or other right or action, or (B)&nbsp;the
effective date on which such reorganization, reclassification, consolidation, merger, Sale of the Company, dissolution, liquidation, winding-up
or bankruptcy is proposed to take place, and the date, if any is to be fixed, as of which the books of the Company shall close or a record
shall be taken with respect to which the holders of record of its Common Shares (or such other Capital Securities at the time issuable
upon exercise of the Warrant Certificate) shall be entitled to exchange their Common Shares (or such other Capital Securities), for securities
or other property deliverable upon such reorganization, reclassification, consolidation, merger, Sale of the Company, dissolution, liquidation,
winding-up or bankruptcy, and the amount per share and character of such exchange applicable to the Warrant Certificate and the Warrant
Shares. The above notwithstanding, the Company shall not be required to provide the Holder with notice containing such information if
the Company reasonably believes that it constitutes material non-public information, unless the Holder (i)&nbsp;confirms to the Company
in writing that it consents to receive such information, and (ii)&nbsp;executes a customary market standstill or equivalent agreement
pursuant to which the Holder will agree not to trade in the Company&rsquo;s Common Shares or other Capital Securities while in possession
of such material non-public information or until such information is no longer material or non-public.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;5.&#8239;&#8239;
 &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Warrant Register</B>. The Company shall keep and properly maintain at its principal
executive offices a register (the &ldquo;<B><I>Warrant Register</I></B>&rdquo;) for the registration of this Warrant Certificate and
any transfers thereof. The Company may deem and treat the Person in whose name this Warrant Certificate is registered on such
register as the Holder thereof for all purposes, and the Company shall not be affected by any notice to the contrary, except any
assignment, division, combination or other transfer of this Warrant Certificate effected in accordance with the provisions of this
Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;6.&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Registration Rights</B>. The Holder is entitled to the benefit of certain registration
rights with respect to the Warrant Shares as provided in the Registration Rights Agreement, dated as of April&nbsp;30, 2024, by and
between the Company and the Initial Holder (the &ldquo;<B><I>Registration Rights Agreement</I></B>&rdquo;), and any subsequent
Holder hereof shall be entitled to such rights to the extent provided in the Registration Rights Agreement. If the Company fails to
cause any Registration Statement covering applicable &ldquo;Registrable Securities&rdquo; (as that term is defined in the
Registration Rights Agreement) to be declared effective prior to the applicable dates set forth therein, or if any of the events
specified in Section&nbsp;2(b)&nbsp;of the Registration Rights Agreement occurs, and the Suspension Period (as that term is defined
in the Registration Rights Agreement) (whether alone, or in combination with any other Suspension Period) continues for more than 30
consecutive days, or for more than a total of 60 days, in each case in any 360-day period, then the Expiration Date of this Warrant
Certificate shall be extended one day for each day beyond the applicable dates for effectiveness of the Registration Statement that
such Registration Statement has not been declared effective by the SEC or the 30-day or 60-day limits, as the case may be, that the
Suspension Period continues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;7.&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;&#8239;&#8239;Transfer of Warrant Certificate</B>. Subject to <B>Section&nbsp;11 </B>hereof, this Warrant
Certificate and all rights hereunder are transferable, in whole or in part, by the Holder without charge to the Holder, upon
surrender of this Warrant Certificate to the Company at its then principal executive offices with a properly completed and duly
executed Assignment in the form attached hereto as <B>Exhibit&nbsp;B</B>. Upon such compliance, surrender and delivery, the Company
shall execute and deliver a new Warrant Certificate or Warrant Certificates in the name of the assignee or assignees and in the
denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant Certificate evidencing the
portion of this Warrant Certificate, if any, not so assigned, and this Warrant Certificate shall promptly be cancelled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;8.&#8239;&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;&#8239;The Holder Not Deemed a Shareholder; Limitations on Liability</B>. Except as otherwise specifically
provided herein (including in <B>4(c)&nbsp;</B>above and <B>Section&nbsp;12</B> below), (i)&nbsp;prior to the Exercise Date, the
Holder shall not be entitled to receive dividends, nor shall anything contained in this Warrant Certificate be construed to confer
upon the Holder, as such, any of the rights of a shareholder of the Company or any right to receive dividends or subscription
rights, and (ii)&nbsp;prior to the registration of the Holder in the share register of the Company with respect to the Warrant
Shares to which the Holder is then entitled to receive upon the due exercise of this Warrant Certificate, the Holder shall not be
entitled to vote, nor shall anything contained in this Warrant Certificate be construed to confer upon the Holder, as such, any
right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of shares, reclassification of
shares, consolidation, merger, conveyance or otherwise) or receive notice of meetings. In addition, nothing contained in this
Warrant Certificate shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this
Warrant Certificate or otherwise) or as a shareholder of the Company, whether such liabilities are asserted by the Company or by
creditors of the Company. Notwithstanding this <B>Section&nbsp;8</B>, the Company shall provide the Holder with copies of the same
notices and other information given to all shareholders of the Company generally, contemporaneously with the giving thereof to such
shareholders, unless such notice or information had been made publicly available on the SEC&rsquo;s EDGAR system website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;9.&#8239;&#8239;&#8239;
 &#8239;&#8239; &#8239;&#8239;&#8239;Replacement on Loss; Division and Combination</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Replacement
of Warrant Certificate on Loss</B>. Subject to any further requirements in relation to the cancellation of this Warrant Certificate pursuant
to applicable Laws, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this
Warrant Certificate and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a written indemnification
agreement or affidavit of loss of the Holder shall be a sufficient indemnity) and, in case of mutilation, upon surrender of such Warrant
Certificate for cancellation to the Company, the Company at its own expense shall execute and deliver to the Holder, in lieu hereof, a
new Warrant Certificate of like tenor and exercisable for an equivalent number of Warrant Shares as this Warrant Certificate so lost,
stolen, mutilated or destroyed; <I>provided</I> that, in the case of mutilation, no indemnity shall be required if this Warrant Certificate
in identifiable form is surrendered to the Company for cancellation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(b)&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;&#8239;&#8239;<B>Division and Combination of Warrant Certificate</B>. Subject to compliance with the applicable
provisions of this Warrant Certificate as to any transfer or other assignment which may be involved in such division or combination,
this Warrant Certificate may be divided or, following any such division of this Warrant Certificate, subsequently combined with
other Warrant Certificates, upon the surrender of this Warrant Certificate or Warrant Certificates to the Company at its then
principal executive offices, together with a written notice specifying the names and denominations in which new Warrant Certificates
are to be issued, signed by each applicable Holder or its agents or attorneys. Subject to compliance with the applicable provisions
of this Warrant Certificate as to any transfer or assignment which may be involved in such division or combination, the Company
shall at its own expense execute and deliver a new Warrant Certificate or Warrant Certificates in exchange for this Warrant
Certificate or Warrant Certificates so surrendered in accordance with such notice. Such new Warrant Certificate or Warrant
Certificates shall be of like tenor to the surrendered Warrant Certificate or Warrant Certificates and shall be exercisable in the
aggregate for an equivalent number of Warrant Shares as this Warrant Certificate or Warrant Certificates so surrendered in
accordance with such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;10.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Disputes;
No Impairment,&nbsp;etc</B>. The parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Disputes</B>.
In the event of any dispute which arises between the Holder and the Company (including the Board) with respect to the calculation or determination
of Fair Market Value, VWAP, the adjusted Exercise Price, the number of Warrant Shares, other Capital Securities, cash or other property
issuable upon exercise of this Warrant Certificate, the amount or type of consideration due to the Holder in connection with any event,
transaction or other matter described in <B>Section&nbsp;4 </B>above or any other matter involving this Warrant Certificate or the Warrant
Shares that is not resolved by the parties after good faith discussions and efforts to reach resolution, upon the request of the Holder
the disputed issue(s)&nbsp;shall be submitted to a firm of independent investment bankers or public accountants of recognized national
standing, which (i)&nbsp;shall be chosen by the Company and be reasonably satisfactory to the Holder and (ii)&nbsp;shall be completely
independent of the Company (an &ldquo;<B><I>Independent Advisor</I></B>&rdquo;), for determination, and such determination by the Independent
Advisor shall be binding upon the Company and the Holder with respect to this Warrant, any Warrant Shares issued in connection herewith
or the matter in dispute, as the case may be, absent manifest error. Costs and expenses of the Independent Advisor shall be paid by the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#8239;&#8239;
 &#8239;&#8239;&#8239;&#8239;<B>Equitable Equivalent</B>. In case any event shall occur as to which the provisions of <B>Section&nbsp;10(a)</B>&nbsp;above
are not strictly applicable but the failure to make any adjustment would not, in the reasonable, good faith opinion of the Holder,
fairly protect the rights and benefits of the Holder represented by this Warrant Certificate in accordance with the essential intent
and principles of <B>Section&nbsp;10(a)</B>, then, in any such case, at the request of the Holder, the Company shall submit the
matter and issues raised by the Holder to an Independent Advisor, which shall give its opinion upon the adjustment, if any, on a
basis consistent with the essential intent and principles established in <B>Section&nbsp;10(a)</B>, to the extent necessary to
preserve, without dilution, the rights and benefits represented by this Warrant Certificate. Upon receipt of such opinion, the
Company will promptly mail a copy thereof to the Holder and shall make the adjustments described therein, if any. Costs and expenses
of the Independent Advisor shall be shared 50/50 by the Company and the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>No
Avoidance.</B> The Company shall not, by way of amendment of any of its Charter or other Organic Documents or through any consolidation,
merger, reorganization, transfer of assets, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid
the observance or performance of any of the terms of this Warrant Certificate, and will at all times in good faith assist in the carrying
out of all such terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;11.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Compliance
with the Securities Act</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Agreement
to Comply with the Securities Act,&nbsp;etc</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Legend</B>.
The Holder, by acceptance of this Warrant Certificate, agrees to comply in all respects with the provisions of this <B>Section&nbsp;11</B>
and the restrictive legend requirements set forth on the face of this Warrant Certificate and further agrees that it shall not offer,
sell or otherwise dispose of this Warrant Certificate or any Warrant Shares to be issued upon exercise hereof except under circumstances
that will not result in a violation of the Securities Act. Subject to <B>clause (ii)</B>&nbsp;below, this Warrant Certificate and all
Warrant Shares issued upon exercise of this Warrant Certificate (unless registered under the Securities Act) shall be stamped or imprinted
with a legend in substantially the following form:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.85in; text-align: justify">&ldquo;THIS WARRANT CERTIFICATE AND THE
SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
 &ldquo;SECURITIES ACT&rdquo;), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY&nbsp;NOT BE OFFERED FOR SALE, SOLD, PLEDGED,
HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I)&nbsp;A REGISTRATION STATEMENT COVERING THE OFFER AND SALE OF SUCH SECURITIES
IS EFFECTIVE UNDER THE SECURITIES ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II)&nbsp;THE TRANSACTION IS EXEMPT FROM
THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE SECURITIES ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE
AND FOREIGN LAW AND,&nbsp;IN EACH CASE,&nbsp;IF THE COMPANY REQUESTS, AN OPINION SATISFACTORY TO THE COMPANY TO SUCH EFFECT HAS BEEN RENDERED
BY COUNSEL.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Removal
of Restrictive Legends</B>. Neither this Warrant Certificate nor any Warrant Shares issuable or deliverable under or in connection with
this Warrant Certificate shall contain any legend restricting the transfer thereof (including the legend set forth above in <B>clause
(i)</B>) in any of the following circumstances: (A)&nbsp;following any sale of this Warrant Certificate or any Warrant Shares issued or
delivered to the Holder under or in connection here with pursuant to Rule&nbsp;144, (B)&nbsp;if this Warrant Certificate or the Warrant
Shares are, and with respect to clause (i)(2)&nbsp;of Rule&nbsp;144 will continue to be, eligible for sale under clause (b)(1)&nbsp;of
Rule&nbsp;144, or (C)&nbsp;if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations
and pronouncements issued by the staff of the SEC) (collectively, the &ldquo;<B><I>Unrestricted Conditions</I></B>&rdquo;). If any of
the Unrestricted Conditions are met at the time of issuance of the Warrant Shares, to the reasonable satisfaction of the Company&rsquo;s
counsel, the Warrant Shares shall be issued free of all legends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Replacement
Warrant Certificate</B>. The Company agrees that at such time as the Unrestricted Conditions have been satisfied it shall promptly (but
in any event within ten (10)&nbsp;Business Days) following written request from the Holder issue a replacement Warrant Certificate or
replacement Warrant Shares, as the case may be, free of all restrictive legends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Sale
of Unlegended Shares</B>. The Holder agrees that the removal of the restrictive legend from this Warrant Certificate and any certificates
representing securities as set forth in <B>Section&nbsp;11(a)(ii)</B>&nbsp;above is predicated upon the Company&rsquo;s reliance that
the Holder will sell this Warrant Certificate or any such securities pursuant to either an effective Registration Statement or otherwise
pursuant to the requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom,
and that if such securities are sold pursuant to a Registration Statement, they will be sold in compliance with the plan of distribution
set forth therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;<B>Representations of the Holder</B>. In connection with the issuance of this Warrant Certificate, the Holder
represents, as of the Issue Date, to the Company by acceptance of this Warrant Certificate as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder is an &ldquo;accredited investor&rdquo; as defined in Rule&nbsp;501 of Regulation D promulgated under the Securities Act. The Holder
is acquiring this Warrant Certificate and the Warrant Shares to be issued upon exercise hereof for investment for its own account and
not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant Certificate or the Warrant
Shares, except pursuant to sales registered or exempted under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder understands and acknowledges that this Warrant Certificate and the Warrant Shares to be issued upon exercise hereof are &ldquo;restricted
securities&rdquo; under the Securities Act inasmuch as they are being acquired from the Company in a transaction not involving a public
offering and that, under such Laws and applicable regulations, such securities may be resold without registration under the Securities
Act only in certain limited circumstances. In addition, the Holder represents that it is familiar with Rule&nbsp;144, as presently in
effect, and understands the resale limitations imposed thereby and by the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.85in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period and has such knowledge
and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in this Warrant
Certificate and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from the Company regarding
the terms and conditions of the offering of this Warrant Certificate and the business, properties, prospects and financial condition of
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;12.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Pre-Emptive
Rights</B>. In addition to any adjustments pursuant to <B>Section&nbsp;4 </B>above, if at any time the Company grants, issues, offers
or sells (i)&nbsp;any Common Shares or (ii)&nbsp;any Options, Convertible Securities or rights to purchase shares, warrants, securities
or other property, in each case pro rata to the record holders of Common Shares (the &ldquo;<B><I>Pre-emptive Rights</I></B>&rdquo;),
then the Holder shall be entitled to (but shall not be obligated to) acquire, upon the same terms applicable to such Pre-emptive Rights,
the aggregate Pre-emptive Rights which the Holder would have acquired if the Holder had held the number of Warrant Shares acquirable upon
complete exercise of this Warrant Certificate immediately before the date on which a record is taken for the grant, issuance, offer or
sale of such Pre-emptive Rights, or, if no such record is taken, the date as of which the record holders of Common Shares are to be determined
for the grant, issue, offer or sale of such Pre-emptive Rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;13.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Notices</B>.
All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to
have been given: (i)&nbsp;when delivered by hand (with written confirmation of receipt); (ii)&nbsp;when received by the addressee if sent
by a nationally recognized overnight courier (receipt requested); (iii)&nbsp;on the date sent by e-mail of a PDF document (with confirmation
of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours
of the recipient, in each case provided that sender did not receive an automated failed delivery notification; or (iv)&nbsp;on the third
day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent
to the respective parties at the addresses indicated below (or at such other address for a party as shall be specified in a notice given
in accordance with this <B>Section&nbsp;13</B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If to the Company:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;TriSalus
Life Sciences,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">6272 West 91<SUP>st</SUP>
Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Westminster, CO 80031</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Attn: Sean Murphy</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Email: sean.murphy@trisaluslifesci.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">with a copy to (which shall
not qualify as notice to any party hereto):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Cooley LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">10265 Science Center Drive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">San Diego, CA 92121</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Attn: Matt Browne; Carlos
Ramirez</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Email: mbrowne@cooley.com;
cramirez@cooley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If to the Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">OrbiMed Royalty&nbsp;&amp;
Credit Opportunities IV, LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">c/o OrbiMed Advisors LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">601 Lexington Avenue, 54<SUP>th
</SUP>Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">New York, NY 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Attention: Matthew Rizzo;
OrbiMed Credit Report</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Email: RizzoM@OrbiMed.com; ROSCreditops@orbimed.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">with a copy to (which shall
not qualify as notice to any party hereto):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Covington&nbsp;&amp; Burling
LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">The New York Times Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">620 Eighth Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">New York, NY 10018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Attention: Peter Schwartz;
Jennifer Uren</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.3in">Email: pschwartz@cov.com;
juren@cov.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;14.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Cumulative
Remedies</B>. Except to the extent expressly provided in <B>Section&nbsp;10</B> to the contrary, the rights and remedies provided in this
Warrant Certificate are cumulative and are not exclusive of, and are in addition to and not in substitution for, any other rights or remedies
available under applicable Laws, in equity or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;15.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Entire
Agreement.</B> This Warrant Certificate constitutes the sole and entire agreement of the parties to this Warrant Certificate with respect
to the subject matter contained herein and supersedes all prior and contemporaneous understandings and agreements, both written and oral,
with respect to such subject matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;16.&#8239;
 &#8239;&#8239;&#8239;&#8239;&#8239;Successors and Assigns.</B> This Warrant Certificate and the rights evidenced hereby (including
under <B>Section&nbsp;6</B>) shall be binding upon and shall inure to the benefit of the parties hereto and the successors of the
Company and the successors and permitted assigns of the Holder. Such successor or permitted assign of the Holder shall be deemed to
be the &ldquo;Holder&rdquo; for all purposes hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;17.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No
Third-Party Beneficiaries</B>. This Warrant Certificate is for the sole benefit of the Company and the Holder and their respective successors
and, in the case of the Holder, permitted assigns, and nothing herein, express or implied, is intended to or shall confer upon any other
Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;18.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Headings</B>.
The headings in this Warrant Certificate are for reference only and shall not affect the interpretation of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;19.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Amendment
and Modification; Waiver.</B> Except as otherwise provided herein, this Warrant Certificate may only be amended, modified or supplemented
by an agreement in writing signed by each party hereto. No waiver by the Company or the Holder of any of the provisions hereof shall be
effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed
as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different
character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power
or privilege arising from this Warrant Certificate shall operate or be construed as a waiver thereof, nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;20.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Severability</B>.
If any term or provision of this Warrant Certificate is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality
or unenforceability shall not affect any other term or provision of this Warrant Certificate or invalidate or render unenforceable such
term or provision in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;21.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Governing
Law. </B>This Warrant Certificate shall be governed by and construed in accordance with the internal Laws of the State of New York without
effect to any choice or conflict of Laws provision or rule&nbsp;(whether of the State of New York or any other jurisdiction) that would
cause the application of Laws of any jurisdiction other than those of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;22.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Submission
to Jurisdiction; Waiver of Jury Trial.</B> Except as provided in <B>Section&nbsp;10</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any
legal suit, action or proceeding arising out of or based on this Warrant Certificate or the transactions contemplated hereby may be instituted
in the federal courts of the United States or the courts of the State of New York, in each case located in the city and county of New
York. Each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of process,
summons, notice or other document by certified or registered mail to such party&rsquo;s address set forth in <B>Section&nbsp;13</B> shall
be effective service of process for any suit, action or other proceeding, and the parties irrevocably and unconditionally waive any objection
to the laying of venue of any suit, action or other proceeding in such courts and irrevocably waive and agree not to plead or claim in
any such court that any such suit, action or proceeding has been brought in an inconvenient forum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#8239;&#8239;
 &#8239;&#8239;&#8239;EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY&nbsp;ARISE UNDER THIS WARRANT CERTIFICATE IS
LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY
RIGHT SUCH PARTY MAY&nbsp;HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS WARRANT CERTIFICATE. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i)&nbsp;NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,&nbsp;IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER, (ii)&nbsp;SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii)&nbsp;SUCH PARTY MAKES
THIS WAIVER VOLUNTARILY, AND (iv)&nbsp;SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS WARRANT CERTIFICATE AND EACH ANCILLARY
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;23.&#8239;
 &#8239; &#8239;&#8239;&#8239;Counterparts</B>. This Warrant Certificate may be executed in counterparts, each of which shall be
deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Warrant
Certificate delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect
as delivery of an original signed copy of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;24.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No Strict Construction.</B> This Warrant Certificate shall be construed without regard to any presumption or
rule&nbsp;requiring construction or interpretation against the party drafting an instrument or causing any instrument to be
drafted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[SIGNATURE PAGE FOLLOWS]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Company
has duly executed this Warrant Certificate on the Issue Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: left"><B>TRISALUS LIFE SCIENCES,&nbsp;INC.</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">&nbsp;</TD><TD STYLE="text-align: justify; width: 45%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">By:</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">/s/ Sean Murphy</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Name:</TD><TD STYLE="text-align: justify">Sean Murphy</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title: </TD><TD STYLE="text-align: justify">Chief Financial Officer</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to Warrant Certificate]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Accepted and agreed,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><B>ORBIMED ROYALTY&nbsp;&amp; CREDIT <BR> OPPORTUNITIES IV, LP</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 3%">By:</TD>
<TD STYLE="width: 44%">OrbiMed ROF IV LLC, &nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD COLSPAN="2">its General Partner</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">By OrbiMed Advisors LLC,</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">its Managing Member</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify; width: 3%">By:</TD>
<TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify; width: 47%">/s/ Matthew Rizzo</TD>
<TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">Name: Matthew Rizzo</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">Title: Member</TD>
<TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to Warrant Certificate]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 22 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>to Warrant Certificate</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;OF EXERCISE CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(To be signed only upon exercise of Warrant Certificate)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;TriSalus
Life Sciences,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[Address]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Attention: [&#9679;]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned, as holder
of a right to purchase Warrant Shares (as defined in the Warrant Certificate) of TriSalus Life Sciences,&nbsp;Inc., a Delaware corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;), pursuant to that certain Warrant Certificate of the Company, dated as of August&nbsp;15, 2024
(the &ldquo;<B><I>Warrant Certificate</I></B>&rdquo;), a copy of which is attached to this Exercise Certificate, hereby irrevocably elects
to exercise the purchase right represented by such Warrant Certificate for, and to purchase thereunder, [<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;(<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>)]
Warrant Shares of the Company and herewith makes payment with this Exercise Certificate of the Aggregate Exercise Price therefor by the
following method:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby elects
to make payment of the Aggregate Exercise Price of [<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>Dollars ($<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>)]
for (<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>) Common Shares using the method described in <B>Section&nbsp;3(b)(i)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby elects
to make payment of the Aggregate Exercise Price of [<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>Dollars ($<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>)]
for (<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>) Common Shares using the method described in <B>Section&nbsp;3(b)(ii)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby elects
to make payment of the Aggregate Exercise Price of [<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>Dollars ($<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>)]
for <U>(&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>) Common Shares using the method described in <B>Section&nbsp;3(b)(iii)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise defined herein,
capitalized terms have the meanings provided in the Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">DATED:__________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: left">[HOLDER]</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">&nbsp;</TD><TD STYLE="text-align: justify; width: 45%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">By</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Name:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 23; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>to Warrant Certificate</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;OF ASSIGNMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[DATE OF ASSIGNMENT]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THE UNDERSIGNED, [NAME OF
HOLDER], is the holder (in such capacity, the &ldquo;<B><I>Holder</I></B>&rdquo;) of a warrant certificate issued by TriSalus Life Sciences,&nbsp;Inc.,
a Delaware corporation (the &ldquo;<B><I>Warrant Certificate</I></B>&rdquo; and the &ldquo;<B><I>Company</I></B>&rdquo;, respectively),
entitling the Holder to purchase up to [<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>] Warrant Shares (as defined in the
Warrant Certificate). Unless otherwise defined, capitalized terms used herein have the meanings ascribed thereto in the Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED, the Holder
hereby sells, assigns and transfers to [NAME OF ASSIGNEE] (the &ldquo;<B><I>Assignee</I></B>&rdquo;) the right to acquire [all Warrant
Shares entitled to be purchased upon exercise of the Warrant Certificate] [<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
of the Warrant Shares entitled to be purchased upon exercise of the Warrant Certificate]. In furtherance of the foregoing assignment,
the Holder hereby irrevocably instructs the Company to (i)&nbsp;memorialize such assignment on the Warrant Register as required pursuant
to <B>Section&nbsp;5</B> of the Warrant Certificate, and (ii)&nbsp;pursuant to <B>Section&nbsp;7</B> of the Warrant Certificate, execute
and deliver to the Assignee [and the Holder][a new Warrant Certificate][new Warrant Certificates] reflecting the foregoing assignment
([each] a &ldquo;<B><I>Substitute Warrant Certificate</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Assignee acknowledges
and agrees that its Substitute Warrant Certificate and the Warrant Shares to be issued upon exercise thereof are being acquired for investment
and that the Assignee will not offer, sell or otherwise dispose of its Substitute Warrant Certificate or any Warrant Shares to be issued
upon exercise or conversion thereof except under circumstances which will not result in a violation of the Securities Act or any applicable
state securities laws. The Assignee represents and warrants for the benefit of the Company that the Assignee is an &ldquo;accredited investor&rdquo;
within the meaning of Rule&nbsp;501 of Regulation D promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the extent required pursuant
to <B>Section&nbsp;11(a)</B>&nbsp;of the Warrant Certificate, the Assignee acknowledges and agrees that a restrictive legend shall be
applied to the Assignee&rsquo;s Substitute Warrant Certificate and the Warrant Shares issuable upon exercise of such certificate substantially
consistent with the legend set forth in <B>Section&nbsp;11(a)(i)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[SIGNATURE PAGE FOLLOWS]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 24; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
hereto agree as set forth above as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: left">[HOLDER]</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">&nbsp;</TD><TD STYLE="text-align: justify; width: 45%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">By</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Name:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accepted and agreed,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD COLSPAN="2">[NAME OF ASSIGNEE]</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="text-align: left; width: 47%">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>By</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">Name:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">Title:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

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<DOCUMENT>
<TYPE>EX-4.11
<SEQUENCE>3
<FILENAME>tm2426916d3_ex4-11.htm
<DESCRIPTION>EXHIBIT 4.11
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 4.11</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><I>Execution Version</I></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WARRANT CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS WARRANT CERTIFICATE AND
THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE &ldquo;SECURITIES ACT&rdquo;), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY&nbsp;NOT BE OFFERED FOR SALE, SOLD,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I)&nbsp;A REGISTRATION STATEMENT COVERING THE OFFER AND SALE OF SUCH
SECURITIES IS EFFECTIVE UNDER THE SECURITIES ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II)&nbsp;THE TRANSACTION
IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE SECURITIES ACT AND THE QUALIFICATION REQUIREMENTS UNDER
APPLICABLE STATE AND FOREIGN LAW AND,&nbsp;IN EACH CASE,&nbsp;IF THE COMPANY REQUESTS, AN OPINION SATISFACTORY TO THE COMPANY TO SUCH
EFFECT HAS BEEN RENDERED BY COUNSEL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20%">Warrant Shares Issuable:</TD><TD STYLE="width: 80%; text-align: left">38,004
Common Shares</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>Issue Date:</TD><TD STYLE="text-align: left">August&nbsp;15,
2024 (Substitute Warrant Certificate #2 to Initial Certificate April&nbsp;30, 2024)</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED, TRISALUS
LIFE SCIENCES,&nbsp;INC., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), hereby certifies that ORBIMED ROYALTY&nbsp;&amp;
CREDIT OPPORTUNITIES IV OFFSHORE, LP, a Delaware limited partnership (together with its successors and permitted transferees and assigns,
a &ldquo;<B><I>Holder</I></B>&rdquo;) is entitled to purchase, at the per share Exercise Price, up to Thirty-Eight Thousand and Four (38,004)
fully paid and nonassessable Common Shares (as subject to adjustment hereunder, the &ldquo;<B><I>Warrant Shares</I></B>&rdquo;), all subject
to the terms, conditions and adjustments set forth below in this Warrant Certificate. Certain capitalized terms used herein are defined
in <B>Section&nbsp;1</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Warrant Certificate is
being issued as a Substitute Warrant Certificate as defined in and pursuant to the Assignment dated August&nbsp;15, 2024, by and between
OrbiMed Royalty&nbsp;&amp; Credit Opportunities IV, LP (the &ldquo;<B><I>Initial Holder</I></B>&rdquo;) and Holder with respect to the
Warrant Certificate issued April&nbsp;30, 2024 (the &ldquo;<B><I>Initial Certificate</I></B>&rdquo;). The Initial Certificate was issued
as a condition precedent to the making of loans under and pursuant to the Credit Agreement, dated as of April&nbsp;30, 2024 (as amended
or otherwise modified from time to time, the &ldquo;<B><I>Credit Agreement</I></B>&rdquo;), among TriSalus Operating Life Sciences,&nbsp;Inc.,
as borrower, the Company, the lenders party thereto, and OrbiMed Royalty&nbsp;&amp; Credit Opportunities IV, LP, as the administrative
agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Definitions.</B>
Capitalized terms used in this Warrant Certificate but not defined herein have the meanings ascribed thereto in the Credit Agreement as
in effect on the date hereof. The following terms when used herein have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Aggregate Exercise
Price</I></B>&rdquo; means, with respect to any exercise of this Warrant Certificate for Warrant Shares, an amount equal to the product
of (i)&nbsp;the number of Warrant Shares in respect of which this Warrant Certificate is then being exercised pursuant to <B>Section&nbsp;3</B>,
multiplied by (ii)&nbsp;the Exercise Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Bloomberg</I></B>&rdquo;
has the meaning set forth within the definition of &ldquo;VWAP&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Cashless Exercise</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;3(b)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Charter</I></B>&rdquo;
means the Second Amended and Restated Certificate of Incorporation of the Company, as amended as of August&nbsp;10, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Common Shares</I></B>&rdquo;
means the Company&rsquo;s common stock, par value $0.0001 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Common Shares
Deemed Outstanding</I></B>&rdquo; means, at any given time, the sum of (i)&nbsp;the number of Common Shares actually outstanding at such
time, plus (ii)&nbsp;the number of Common Shares issuable upon exercise of Options actually outstanding at such time, plus (iii)&nbsp;the
number of Common Shares issuable upon conversion or exchange of Convertible Securities actually outstanding at such time (treating as
actually outstanding any Convertible Securities issuable upon exercise of Options actually outstanding at such time), in each case, regardless
of whether the Options or Convertible Securities are actually exercisable at such time; provided that Common Shares Deemed Outstanding
at any given time shall not include shares owned or held by or for the account of the Company or any or its wholly owned subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Company</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Convertible Securities</I></B>&rdquo;
means any Capital Securities that, directly or indirectly, are convertible into, exchangeable or settleable for Common Shares, including
shares of the Company&rsquo;s preferred stock that may be issued from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Credit Agreement</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Determination
Date</I></B>&rdquo; has the meaning set forth in the definition of &ldquo;VWAP&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exchange Act</I></B>&rdquo;
means the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exercise Certificate</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;3(a)(i)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exercise Date</I></B>&rdquo;
means, for any given exercise of this Warrant Certificate, whether in whole or in part, a Business Day on which the conditions to such
exercise as set forth in <B>Section&nbsp;3</B> shall have been satisfied at or prior to 5:00 p.m., New York City time, including, without
limitation, the receipt by the Company of the Exercise Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exercise Period</I></B>&rdquo;
means the period from (and including) the Issue Date to (and including) 5:00 p.m., New York City time, on the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Exercise Price</I></B>&rdquo;
means $9.5562, as adjusted from time to time pursuant to <B>Section&nbsp;4</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Expiration Date</I></B>&rdquo;
means April&nbsp;30, 2031.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Fair Market Value</I></B>&rdquo;
means (i)&nbsp;if the Common Shares are traded on a Trading Market, the VWAP of such Common Shares for such day (provided that if the
Fair Market Value is being determined in connection with a Sale of the Company, such Fair Market Value shall be the greater of the amount
determined pursuant to this clause (i)&nbsp;and the closing price on the Trading Market on the Trading Day immediately prior to the closing
date of the Sale of the Company) or (ii)&nbsp;if at any time the Common Shares are not listed, quoted or otherwise available for trading
on any Trading Market (so that no Trading Day shall have occurred), or if VWAP cannot be calculated for the Common Shares for such day
for any other reason, the &ldquo;<B><I>Fair Market Value</I></B>&rdquo; of such Common Shares shall be the fair market value per share
of such Common Shares as determined jointly by the Company and the Holder; <U>provided further</U>, that, in the event the Company and
Holder are unable to so mutually agree, Fair Market Value shall be determined pursuant to <B>Section&nbsp;10(a)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Holder</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Independent Advisor</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;10(a)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Initial Holder</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Issue Date</I></B>&rdquo;
means the date designated as such on the first page&nbsp;of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Marketable Securities</I></B>&rdquo;
means equity securities meeting each of the following requirements: (i)&nbsp;the issuer thereof is subject to the reporting requirements
of Section&nbsp;13 or Section&nbsp;15(d)&nbsp;of the Exchange Act, and is current in its filing of all required reports and other information
under the Securities Act and the Exchange Act; (ii)&nbsp;such equity securities are traded on a Trading Market; and (iii)&nbsp;if delivered
(or to be delivered) as payment or compensation to the Holder in connection with an automatic Cashless Exercise pursuant to <B>Section&nbsp;3(c)</B>,
following the closing of the related Sale of the Company, the Holder would not be restricted from publicly re-selling all of such equity
securities delivered to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Nasdaq</I></B>&rdquo;
means The Nasdaq Stock Market LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>NYSE</I></B>&rdquo;
means the New York Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Options</I></B>&rdquo;
means any warrants, options or similar rights to subscribe for or purchase Common Shares or Convertible Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Original Issue
Date</I></B>&rdquo; means April&nbsp;30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>OTC Bulletin
Board</I></B>&rdquo; means the Financial Industry Regulatory Authority,&nbsp;Inc. OTC Bulletin Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Pre-emptive Rights</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;12</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Registration
Statement</I></B>&rdquo; means, in connection with any public offering of securities, any registration statement required pursuant to
the Securities Act that covers the offer and sales of any such securities, including any prospectus, amendments or supplements to such
Registration Statement, including post-effective amendments and all exhibits and all materials incorporated by reference in such Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Rule&nbsp;144&rdquo;</I></B>
means Rule&nbsp;144 promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Sale of the Company</I></B>&rdquo;
means a transaction pursuant to which (i)&nbsp;(x)&nbsp;any Person or group of Persons acting jointly or otherwise in concert (other than
the Holder and any other parties to the Credit Agreement) acquires ownership, directly or indirectly, beneficially or of record, of Capital
Securities of the Company having more than fifty percent (50%) of the aggregate economic interests and/or voting power, determined on
a fully diluted basis, (y)&nbsp;any Person or group of Persons acting jointly or otherwise in concert (other than the Holder and any other
parties to the Credit Agreement) acquires, by contract or otherwise, the right to appoint or elect a majority of the Company&rsquo;s board
of directors (the &ldquo;<B><I>Board</I></B>&rdquo;), or (z)&nbsp;all or substantially all of the assets of the Company and its Subsidiaries,
taken as a whole, are sold, leased, exclusively licensed, transferred, conveyed or otherwise disposed of, and (ii)&nbsp;all Obligations
outstanding under the Credit Agreement are to be paid in full in cash, whether pursuant to the terms of the transaction, pursuant to the
terms of the Credit Agreement or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>SEC</I></B>&rdquo;
means the Securities and Exchange Commission or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Share Distribution</I></B>&rdquo;
means any issuance or sale by the Company of any of its Common Shares, Options or Convertible Securities, other than in connection with
a dividend or distribution to holders of its Common Shares of the type described in Section&nbsp;4(c)&nbsp;below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Share Reorganization</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;4(a)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Trading Day</I></B>&rdquo;
means, with respect to the Common Shares or any other Marketable Securities, a date on which the relevant Trading Market is open and conducting
business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Trading Market</I></B>&rdquo;
means, with respect to the Common Shares or any other Marketable Securities, the Nasdaq, the NYSE or the OTC Bulletin Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Unrestricted
Conditions</I></B>&rdquo; has the meaning set forth in <B>Section&nbsp;11(a)(ii)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>VWAP</I></B>&rdquo;
means, with respect to any Common Shares, as of any day of determination (a &ldquo;<B><I>Determination Date</I></B>&rdquo;), the volume
weighted average sale price for the period of ten (10)&nbsp;consecutive Trading Days immediately preceding such Determination Date on
the Trading Market for such Common Shares as reported by, or based upon data reported by, Bloomberg Financial Markets or an equivalent,
reliable reporting service reasonably acceptable to the Holder and the Company (collectively, &ldquo;<B><I>Bloomberg</I></B>&rdquo;) or,
if the volume weighted average sale price has not been reported for such security by Bloomberg for such ten (10)&nbsp;day period, then
the simple average of the last closing trade prices of such security for such ten (10)&nbsp;day period, as reported by Bloomberg, or,
if no last closing trade price is reported for such security by Bloomberg, the simple average of the bid prices of any market makers for
such security that are listed in the over the counter market by the Financial Industry Regulatory Authority,&nbsp;Inc. or on the OTC Bulletin
Board (or any successor) or in the &ldquo;pink sheets&rdquo; (or any successor) by the OTC Markets Group,&nbsp;Inc. over such ten (10)&nbsp;day
period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Warrant Certificate</I></B>&rdquo;
means this Warrant Certificate and all subsequent warrant certificates issued upon division, combination or transfer of, or in substitution
for, this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Warrant Register</I></B>&rdquo;
has the meaning set forth in <B>Section&nbsp;5</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Warrant Shares</I></B>&rdquo;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Term
of Warrant Certificate.</B> Subject to the terms and conditions hereof, from time to time during the Exercise Period, the Holder of this
Warrant Certificate may exercise this Warrant Certificate for all or any part of the Warrant Shares purchasable hereunder (subject to
adjustment as provided herein).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Exercise
of Warrant Certificate</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Exercise
Procedure</B>. This Warrant Certificate may be exercised from time to time on any Business Day during the Exercise Period, for all or
any part of the unexercised Warrant Shares, upon:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;delivery
to the Company at its then registered office of a duly completed and executed Exercise Certificate in the form attached hereto as <B>Exhibit&nbsp;A</B>
(each, an &ldquo;<B><I>Exercise Certificate</I></B>&rdquo;), which certificate will specify the number of Warrant Shares to be purchased
and the Aggregate Exercise Price; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;simultaneously
with the delivery of the Exercise Certificate, payment to the Company of the Aggregate Exercise Price in accordance with <B>Section&nbsp;3(b)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Payment
of the Aggregate Exercise Price.</B> Payment of the Aggregate Exercise Price shall be made, at the option of the Holder as set forth in
the applicable Exercise Certificate, by any of the following methods:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;by
wire transfer of immediately available funds to an account designated in writing by the Company, in the amount of such Aggregate Exercise
Price;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;by
instructing the Company to withhold a number of Warrant Shares then issuable upon exercise of this Warrant Certificate with an aggregate
Fair Market Value as of the Exercise Date equal to such Aggregate Exercise Price; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
combination of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of any withholding of Warrant Shares
pursuant to <B>Section&nbsp;3(b)(ii)</B>&nbsp;or <B>(iii)</B>&nbsp;(solely to the extent of such withholding, a &ldquo;<B><I>Cashless
Exercise</I></B>&rdquo;) where the number of shares whose value is equal to the Aggregate Exercise Price is not a whole number, the number
of shares withheld by the Company shall be rounded up to the nearest whole share and the Company shall make a cash payment to the Holder
(by delivery of a certified or official bank check or by wire transfer of immediately available funds) based on the incremental fraction
of a share being so withheld by the Company in an amount equal to the product of (x)&nbsp;such incremental fraction of a share being so
withheld multiplied by (y)&nbsp;the Fair Market Value per Warrant Share as of the Exercise Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Automatic
Cashless Exercise.</B> To the extent this Warrant Certificate has not been exercised in full by the Holder prior to the earlier of (i)&nbsp;the
occurrence of the Expiration Date, and (ii)&nbsp;the date on which a Sale of the Company is consummated pursuant to which the sole consideration
payable to the Company or its shareholders in respect of such sale transaction consists of cash, Marketable Securities or a combination
thereof, any portion of this Warrant Certificate that remains unexercised on such date shall be deemed to have been exercised automatically
pursuant to a Cashless Exercise, in whole (and not in part), on the Business Day immediately preceding such date; <U>provided</U>, that
the automatic Cashless Exercise contemplated by this <B>Section&nbsp;3(c)&nbsp;</B>shall not occur in the event that, as of the Business
Day immediately preceding any such date described above, the per share Fair Market Value of a Warrant Share is less than the Exercise
Price per Warrant Share, in which case, this Warrant Certificate shall automatically expire and be of no further force and effect as of
the Expiration Date or immediately prior to the consummation of the Sale of the Company, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent permitted by applicable Law, for
purposes of Rule&nbsp;144, (i)&nbsp;the Warrant Shares issuable upon any exercise of this Warrant Certificate in any Cashless Exercise
transaction shall be deemed to have been acquired on the Original Issue Date, and (ii)&nbsp;the holding period for any Warrant Shares
issuable upon the exercise of this Warrant Certificate in any Cashless Exercise transaction shall be deemed to have commenced on the Original
Issue Date; <U>provided</U> that the Company makes no representation or warranty regarding the commencement of the holding period of any
Warrant Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Delivery
of Stock Certificates</B>. With respect to any exercise of this Warrant Certificate by the Holder, upon receipt by the Company of an Exercise
Certificate and delivery of the Aggregate Exercise Price, the Company shall, within five (5)&nbsp;Business Days, deliver in accordance
with the terms hereof to or upon the order of the Holder that number of Warrant Shares for the portion of this Warrant Certificate so
exercised on such date, together with cash in lieu of any fraction of a share to the extent the Company elects to do so pursuant to <B>Section&nbsp;3(e</B>)&nbsp;below.
If such Warrant Shares are issued in certificated form, the Company shall deliver a certificate or certificates, to the extent possible,
representing the number of Warrant Shares as the Holder shall request in the Exercise Certificate. If such Warrant Shares are issued in
uncertificated form, the Company shall deliver upon request a confirmation evidencing the registration of such shares. Unless otherwise
provided herein, upon any exercise in accordance with the terms of this Warrant Certificate, this Warrant Certificate shall be deemed
to have been exercised and such certificate or certificates of Warrant Shares shall be deemed to have been issued, and the Holder shall
be deemed to have become a holder of record of such Warrant Shares for all purposes, as of the Exercise Date. Unless otherwise permitted
by federal or state securities laws, rules&nbsp;or regulations, any share certificates issued pursuant to the exercise of this Warrant
Certificate will bear a legend in substantially the form set out in <B>Section&nbsp;11(a)(i)</B>&nbsp;below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>No
Fractional Shares or Scrip</B>. No fractional or scrip representing fractional shares shall be issued upon the exercise of this Warrant
Certificate. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall
at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the
Fair Market Value of one Warrant Share on the Exercise Date or round up to the next whole share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(f)<B>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Surrender
of this Warrant Certificate; Delivery of New Warrant Certificate.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder shall not be required to physically surrender this Warrant Certificate to the Company until this Warrant Certificate has been exercised
in full by the Holder, in which case, the Holder shall, at the written request of the Company, surrender this Warrant Certificate to the
Company for cancellation within three (3)&nbsp;Business Days after the date the final Exercise Certificate is delivered to the Company.
Partial exercises of this Warrant Certificate resulting in purchases of a portion of the total number of Warrant Shares available hereunder
shall have the effect of lowering the outstanding number of Warrant Shares issuable hereunder by an amount equal to the applicable number
of Warrant Shares that have been issued hereunder as a result of previous exercises or withheld in connection with any Cashless Exercises.
The Holder and the Company shall maintain records showing the number of Warrant Shares issued and purchased, the date of such issuances
and purchases and the number of Warrant Shares withheld in connection with any Cashless Exercises. The Holder and any assignee, by acceptance
of this Warrant Certificate, acknowledge and agree that, by reason of the provisions of this <B>Section&nbsp;3(f)</B>, following the purchase
of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be fewer
than the amount stated on the face hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Notwithstanding
the foregoing, to the extent that there are unexpired and unexercised Warrant Shares remaining under the Warrant Certificate, the Holder
may request that the Company (and the Company shall), at the time of issuance of any Warrant Shares in accordance with <B>Section&nbsp;3(d)</B>&nbsp;and
the surrender of this Warrant Certificate, deliver to the Holder a new Warrant Certificate evidencing the rights of the Holder to subscribe
for the unexpired and unexercised Warrant Shares called for by this Warrant Certificate. Unless otherwise agreed upon by the Holder in
its sole discretion, such new Warrant Certificate shall in all other respects be identical to this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Valid
Issuance of Warrant Certificate and Warrant Shares; Payment of Taxes</B>. With respect to the exercise of this Warrant Certificate, the
Company hereby represents, warrants, covenants and agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Warrant Certificate is, and any Warrant Certificate issued in substitution for or replacement of this Warrant Certificate shall be, upon
issuance, duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;All
Warrant Shares issuable upon the exercise of this Warrant Certificate (or any substitute or replacement Warrant Certificate) shall be,
upon issuance, and the Company shall take all such actions as may be necessary or appropriate in order that such Warrant Shares are, validly
issued, fully paid and non-assessable, issued without violation of any preemptive or similar rights of any shareholder of the Company
and free and clear of all liens and charges (other than liens or charges created by the Holder, or created with regard to income taxes
or other taxes payable by the Holder incurred in connection with the exercise of the Warrant or taxes in respect of any transfer made
by the Holder occurring contemporaneously therewith).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall take all such actions as may be necessary to (x)&nbsp;comply with <B>Section&nbsp;3(i)</B>&nbsp;below and (y)&nbsp;ensure
that all such Warrant Shares are issued without violation by the Company of any applicable Law or any requirements of any foreign or domestic
securities exchange upon which Warrant Shares may be listed at the time of such exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall exclusively bear and pay all expenses in connection with, and all governmental charges, taxes, fees, levies, withholdings
and all other such payments, that may be imposed on or with respect to, the issuance of this Warrant Certificate, and the issuance or
delivery of Warrant Shares pursuant to the terms of this Warrant Certificate and the Holder shall not be affected by such payments, and
the Company shall not be eligible to any indemnification for such payment from the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(v)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company is a corporation duly organized and validly existing under the Laws of the State of Delaware and has the capacity and corporate
power and authority to enter into this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(vi)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company has taken all action required to be taken to authorize the execution, delivery and performance of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(vii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Warrant Certificate has been duly executed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(viii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
obligations of the Company under this Warrant Certificate are legal, valid and binding obligations, enforceable against the Company in
accordance with the terms hereof, except to the extent that enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting creditors&rsquo; rights generally and by general equitable principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ix)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
of the Issue Date, the Company has complied with all obligations set forth in <B>Section&nbsp;3(i)</B>, below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(h)&#8239;&#8239;
 &#8239;&#8239;&#8239;&#8239;<B>Conditional Exercise</B>. Notwithstanding any other provision hereof, if an exercise of all or any
portion of this Warrant Certificate is to be made in connection with a Sale of the Company, such exercise may, at the election of
the Holder, be conditioned upon the consummation of such transaction, in which case such exercise shall not be deemed to be
effective until immediately prior to the consummation of such transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(i)&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;<B>Reservation of Shares</B>. The Company shall at all times during the Exercise Period reserve and keep
available out of its authorized but unissued Common Shares or (if applicable) other securities constituting Warrant Shares, solely
for the purpose of issuance upon the exercise of this Warrant Certificate, the maximum number of Warrant Shares issuable upon the
exercise of this Warrant Certificate. The Company shall not increase the par value of any Warrant Shares receivable upon the
exercise of this Warrant Certificate above the Exercise Price then in effect, and shall take all such actions within its power as
may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares
upon the exercise of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(j)&#8239;&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;<B>Rule&nbsp;144 Compliance</B>. With a view to making available to the Holder the benefits of Rule&nbsp;144 and any
other rule&nbsp;or regulation of the SEC that may at any time permit a holder to sell securities of the Company to the public
without registration or pursuant to a Registration Statement, the Company shall, during the Exercise Period while any portion of
this Warrant Certificate remains unexercised:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;use
commercially reasonable efforts to make and keep adequate public information available, as required by clause (c)&nbsp;of Rule&nbsp;144;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;use
commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company under
the Securities Act and the Exchange Act (excluding, for avoidance of doubt, any prospectus or registration statement which the Company
is under no obligation to file); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;furnish,
or otherwise make available to the Holder so long as the Holder owns Warrant Shares, promptly upon request, a written statement by the
Company as to its compliance with the reporting requirements of Rule&nbsp;144 and the Exchange Act, a copy of the most recent annual or
quarterly report of the Company, and such other reports and documents so filed or furnished by the Company with the SEC under the Exchange
Act or Securities Act as the Holder may reasonably request in connection with the sale of Common Shares without registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Ownership
Cap</B>. The Company shall not knowingly effect the exercise of this Warrant Certificate, and the Holder shall not have the right to exercise
this Warrant Certificate to the extent that, after giving effect to such exercise, the Holder (together with its Affiliates) would beneficially
own in excess of 9.99% of the Common Shares of the Company immediately after giving effect to such exercise. For purposes of the foregoing
sentence, the aggregate number of Common Shares owned by the Holder and its Affiliates shall include the number of Warrant Shares issuable
upon exercise of this Warrant Certificate with respect to which the determination of such aggregate number is being made, but shall exclude
Common Shares (if any) that would be issuable upon (i)&nbsp;exercise of the remaining, unexercised portion of this Warrant Certificate
beneficially owned by the Holder and its Affiliates and (ii)&nbsp;exercise or conversion of the unexercised or unconverted portion of
any other Capital Securities of the Company beneficially owned by the Holder and its Affiliates (including, without limitation, any Convertible
Securities) subject to a limitation on conversion or exercise analogous to the limitations contained herein. Except as set forth in the
preceding sentence, for purposes of this <B>Section&nbsp;3(k)</B>, beneficial ownership shall be calculated in accordance with Section&nbsp;13(d)&nbsp;of
the Exchange Act. For purposes of this Warrant Certificate, in determining the number of outstanding Common Shares, the Holder of this
Warrant Certificate may rely on the number of such outstanding Capital Securities as reflected in the most recent of (i)&nbsp;the Company&rsquo;s
Form&nbsp;10-K, Form&nbsp;10-Q or other public filing with the SEC, as the case may be, if available, (ii)&nbsp;a more recent public announcement
by the Company, or (iii)&nbsp;any other notice by the Company or its transfer agent setting forth the number of outstanding Common Shares.
In addition, upon the written request of the Holder (but not more than once during any calendar quarter), the Company shall, within three
(3)&nbsp;Business Days, confirm to the Holder the number of its outstanding Common Shares. Furthermore, upon the written request of the
Company (but not more than once during any calendar quarter), the Holder shall promptly confirm to the Company its then current beneficial
ownership with respect to the Company&rsquo;s Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Except
as expressly provided herein with respect to cash payments in lieu of the issuance of fractional shares, and without regard to any exchange
of consideration in connection with an automatic Cashless Exercise pursuant to <B>Section&nbsp;3(c)</B>&nbsp;above or similar event, upon
exercise of this Warrant Certificate the Holder shall not otherwise be entitled to receive cash or Warrant Shares that are registered
under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Adjustment
to Number of Warrant Shares, Exercise Price,&nbsp;etc</B>. The number of Warrant Shares issuable upon exercise of this Warrant Certificate
shall be subject to adjustment from time to time as provided in this <B>Section&nbsp;4</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Adjustment
to Number of Warrant Shares Upon Reorganizations, Reclassifications,&nbsp;etc</B>. In the event of any changes in the outstanding Common
Shares of the Company by reason of redemptions, recapitalizations, reclassifications, combinations or exchanges of shares, splits or reverse
splits, separations, reorganizations, liquidations, substitutions, replacements or the like (any of the foregoing or combination thereof
being a &ldquo;<B><I>Share Reorganization</I></B>&rdquo;), the number and class of Warrant Shares available upon exercise of this Warrant
Certificate in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of this Warrant Certificate,
on exercise for the same Aggregate Exercise Price, the total number, class, and kind of shares as the Holder would have owned had this
Warrant Certificate been exercised prior to any such event and had the Holder continued to hold such Warrant Shares until after the event
requiring adjustment. The form of this Warrant Certificate need not be changed because of any adjustment in the number of Warrant Shares
subject to this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Adjustment
to Exercise Price Upon a Share Distribution</B>. </FONT>Subject to <B>clause (iii)</B>&nbsp;below, if the Company consummates or effects
any Share Distribution for a price per Common Share less than the Exercise Price then in effect, then, effective upon such Share Distribution,
the Exercise Price shall be reduced to a price determined by multiplying the Exercise Price then in effect by a fraction, the numerator
of which shall be the sum of (A)&nbsp;the number of Common Shares Deemed Outstanding immediately prior to such Share Distribution multiplied
by the Exercise Price then in effect, plus (B)&nbsp;the consideration, if any, received by the Company upon such Share Distribution, and
the denominator of which shall be the product of (1)&nbsp;the total number of Common Shares Deemed Outstanding immediately after such
Share Distribution multiplied by (2)&nbsp;the Exercise Price in effect immediately prior to such Share Distribution. For purposes of this
<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Section&nbsp;4(b)</B>:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
the event Options or Convertible Securities are included in any such Share Distribution, the price per Common Share deemed to have been
issued or sold as a result of the sale or issuance of such Options or Convertible Securities, shall be equal to the price per Common Share
for which Common Shares are issuable upon the exercise of such Options or upon conversion or exchange of such Convertible Securities,
as the case may be (determined by dividing (x)&nbsp;the aggregate amount, if any, received or receivable by the Company as consideration
for the issuance, sale, distribution or grant of all such Options or Convertible Securities, plus the minimum aggregate amount of additional
consideration payable to the Company, if any, upon the exercise of all such Options or the conversion or exchange of all such Convertible
Securities (as the case may be), by (y)&nbsp;the total maximum number of Common Shares issuable upon the exercise of all such Options
or upon the conversion or exchange of all such Convertible Securities (without, in each case, giving effect to any anti-dilution provisions
included in such Options or Convertible Securities that are not applicable at the time of the applicable price per Common Share calculations)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
provisions of this <B>Section&nbsp;4(b)</B>&nbsp;shall not in any event operate to increase the Exercise Price<FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
<B>Section&nbsp;4(b)</B>&nbsp;shall not apply to any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.3in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">Any issuance, sale or other distribution of Common Shares, Options or Convertible Securities pursuant
to (i)&nbsp;any Share Reorganization, which shall instead be governed by <B>Section&nbsp;4(a)</B>&nbsp;above, or (ii)&nbsp;any dividend
or distribution to holders of Common Shares, which shall instead by governed by <B>Section&nbsp;4(c)</B>&nbsp;below.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.3in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">The issuance of Common Shares upon exercise or conversion of any Options or Convertible Securities included
in the Common Shares Deemed Outstanding as of the Original Issue Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.3in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">The grant or issuance of Common Shares, Options or Convertible Securities to board members, officers,
employees, consultants or other service providers of the Company pursuant to any employee incentive plan, employee share purchase plan
or similar equity-based benefit plans (including any inducement award granted in accordance with the Nasdaq Listing Rules) approved by
the Company&rsquo;s Board or duly authorized committee thereof; <U>provided</U> that the total number of securities issued under this
sub-clause for a price per share less than the Exercise Price shall not constitute more than five percent (5.0%) of the total number of
Common Shares Deemed Outstanding at any time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Adjustment
to Number of Warrant Shares Upon Dividends, Distributions,&nbsp;etc</B>. If the Company declares or pays a dividend or distribution on
its outstanding Common Shares payable in cash, Capital Securities or other property, the Holder shall be entitled to receive, at the time
such dividend or distribution is paid, without additional cost to the Holder, the total number and kind of cash, Capital Securities or
other property which the Holder would have received had the Holder owned the Warrant Shares of record as of the date such dividend or
distribution was paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(d)&#8239;&#8239;&#8239;&#8239;
 &#8239;&#8239;<B>Certificate as to Adjustment</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
promptly as reasonably practicable following any change or adjustment of the type described above in this <B>Section&nbsp;4</B>, but in
any event not later than ten (10)&nbsp;Business Days thereafter, the Company shall furnish to the Holder a certificate of an Authorized
Officer setting forth in reasonable detail such adjustment and the facts upon which it is based and certifying the calculation thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
promptly as reasonably practicable following the receipt by the Company of a written request by the Holder, but in any event not later
than ten (10)&nbsp;Business Days thereafter, the Company shall furnish to the Holder a certificate of an Authorized Officer certifying
the number of Warrant Shares or the amount, if any, of other shares, securities or assets then issuable upon exercise of the Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Notices</B>.
In the event that, at any time during the Exercise Period the Company shall take a record of the holders of its outstanding Common Shares
(or other Capital Securities at the time issuable upon exercise of this Warrant Certificate) for the purpose of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;entitling
or enabling such holders to receive any dividend or other distribution, to receive any right to subscribe for or purchase any shares of
any class or any other securities, or to receive any other security;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(x)&nbsp;any
capital reorganization of the Company, any reclassification of any outstanding securities, any consolidation or merger of the Company
with or into another Person, or (y)&nbsp;a Sale of the Company; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
voluntary or involuntary dissolution, liquidation or winding-up bankruptcy or similar event involving the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">then, and in each such case, the Company shall
send or cause to be sent to the Holder at least ten (10)&nbsp;Business Days prior to the applicable record date or the applicable expected
effective date, as the case may be, for the event, a written notice specifying, as the case may be, (A)&nbsp;the record date for such
dividend, distribution or other right or action, and a description of such dividend, distribution or other right or action, or (B)&nbsp;the
effective date on which such reorganization, reclassification, consolidation, merger, Sale of the Company, dissolution, liquidation, winding-up
or bankruptcy is proposed to take place, and the date, if any is to be fixed, as of which the books of the Company shall close or a record
shall be taken with respect to which the holders of record of its Common Shares (or such other Capital Securities at the time issuable
upon exercise of the Warrant Certificate) shall be entitled to exchange their Common Shares (or such other Capital Securities), for securities
or other property deliverable upon such reorganization, reclassification, consolidation, merger, Sale of the Company, dissolution, liquidation,
winding-up or bankruptcy, and the amount per share and character of such exchange applicable to the Warrant Certificate and the Warrant
Shares. The above notwithstanding, the Company shall not be required to provide the Holder with notice containing such information if
the Company reasonably believes that it constitutes material non-public information, unless the Holder (i)&nbsp;confirms to the Company
in writing that it consents to receive such information, and (ii)&nbsp;executes a customary market standstill or equivalent agreement
pursuant to which the Holder will agree not to trade in the Company&rsquo;s Common Shares or other Capital Securities while in possession
of such material non-public information or until such information is no longer material or non-public.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;5.&#8239;&#8239;&#8239;
 &#8239;&#8239;&#8239;Warrant Register</B>. The Company shall keep and properly maintain at its principal executive offices a
register (the &ldquo;<B><I>Warrant Register</I></B>&rdquo;) for the registration of this Warrant Certificate and any transfers
thereof. The Company may deem and treat the Person in whose name this Warrant Certificate is registered on such register as the
Holder thereof for all purposes, and the Company shall not be affected by any notice to the contrary, except any assignment,
division, combination or other transfer of this Warrant Certificate effected in accordance with the provisions of this Warrant
Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Registration
Rights</B>. The Holder is entitled to the benefit of certain registration rights with respect to the Warrant Shares as provided in the
Registration Rights Agreement, dated as of April&nbsp;30, 2024, by and between the Company and the Initial Holder (the &ldquo;<B><I>Registration
Rights Agreement</I></B>&rdquo;), and any subsequent Holder hereof shall be entitled to such rights to the extent provided in the Registration
Rights Agreement. If the Company fails to cause any Registration Statement covering applicable &ldquo;Registrable Securities&rdquo; (as
that term is defined in the Registration Rights Agreement) to be declared effective prior to the applicable dates set forth therein, or
if any of the events specified in Section&nbsp;2(b)&nbsp;of the Registration Rights Agreement occurs, and the Suspension Period (as that
term is defined in the Registration Rights Agreement) (whether alone, or in combination with any other Suspension Period) continues for
more than 30 consecutive days, or for more than a total of 60 days, in each case in any 360-day period, then the Expiration Date of this
Warrant Certificate shall be extended one day for each day beyond the applicable dates for effectiveness of the Registration Statement
that such Registration Statement has not been declared effective by the SEC or the 30-day or 60-day limits, as the case may be, that the
Suspension Period continues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;7.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Transfer
of Warrant Certificate</B>. Subject to <B>Section&nbsp;11 </B>hereof, this Warrant Certificate and all rights hereunder are transferable,
in whole or in part, by the Holder without charge to the Holder, upon surrender of this Warrant Certificate to the Company at its then
principal executive offices with a properly completed and duly executed Assignment in the form attached hereto as <B>Exhibit&nbsp;B</B>.
Upon such compliance, surrender and delivery, the Company shall execute and deliver a new Warrant Certificate or Warrant Certificates
in the name of the assignee or assignees and in the denominations specified in such instrument of assignment, and shall issue to the assignor
a new Warrant Certificate evidencing the portion of this Warrant Certificate, if any, not so assigned, and this Warrant Certificate shall
promptly be cancelled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;8.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder Not Deemed a Shareholder; Limitations on Liability</B>. Except as otherwise specifically provided herein (including in <B>4(c)&nbsp;</B>above
and <B>Section&nbsp;12</B> below), (i)&nbsp;prior to the Exercise Date, the Holder shall not be entitled to receive dividends, nor shall
anything contained in this Warrant Certificate be construed to confer upon the Holder, as such, any of the rights of a shareholder of
the Company or any right to receive dividends or subscription rights, and (ii)&nbsp;prior to the registration of the Holder in the share
register of the Company with respect to the Warrant Shares to which the Holder is then entitled to receive upon the due exercise of this
Warrant Certificate, the Holder shall not be entitled to vote, nor shall anything contained in this Warrant Certificate be construed to
confer upon the Holder, as such, any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue
of shares, reclassification of shares, consolidation, merger, conveyance or otherwise) or receive notice of meetings. In addition, nothing
contained in this Warrant Certificate shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise
of this Warrant Certificate or otherwise) or as a shareholder of the Company, whether such liabilities are asserted by the Company or
by creditors of the Company. Notwithstanding this <B>Section&nbsp;8</B>, the Company shall provide the Holder with copies of the same
notices and other information given to all shareholders of the Company generally, contemporaneously with the giving thereof to such shareholders,
unless such notice or information had been made publicly available on the SEC&rsquo;s EDGAR system website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;9.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Replacement
on Loss; Division and Combination</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Replacement
of Warrant Certificate on Loss</B>. Subject to any further requirements in relation to the cancellation of this Warrant Certificate pursuant
to applicable Laws, upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this
Warrant Certificate and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a written indemnification
agreement or affidavit of loss of the Holder shall be a sufficient indemnity) and, in case of mutilation, upon surrender of such Warrant
Certificate for cancellation to the Company, the Company at its own expense shall execute and deliver to the Holder, in lieu hereof, a
new Warrant Certificate of like tenor and exercisable for an equivalent number of Warrant Shares as this Warrant Certificate so lost,
stolen, mutilated or destroyed; <I>provided</I> that, in the case of mutilation, no indemnity shall be required if this Warrant Certificate
in identifiable form is surrendered to the Company for cancellation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Division
and Combination of Warrant Certificate</B>. Subject to compliance with the applicable provisions of this Warrant Certificate as to any
transfer or other assignment which may be involved in such division or combination, this Warrant Certificate may be divided or, following
any such division of this Warrant Certificate, subsequently combined with other Warrant Certificates, upon the surrender of this Warrant
Certificate or Warrant Certificates to the Company at its then principal executive offices, together with a written notice specifying
the names and denominations in which new Warrant Certificates are to be issued, signed by each applicable Holder or its agents or attorneys.
Subject to compliance with the applicable provisions of this Warrant Certificate as to any transfer or assignment which may be involved
in such division or combination, the Company shall at its own expense execute and deliver a new Warrant Certificate or Warrant Certificates
in exchange for this Warrant Certificate or Warrant Certificates so surrendered in accordance with such notice. Such new Warrant Certificate
or Warrant Certificates shall be of like tenor to the surrendered Warrant Certificate or Warrant Certificates and shall be exercisable
in the aggregate for an equivalent number of Warrant Shares as this Warrant Certificate or Warrant Certificates so surrendered in accordance
with such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.43in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;10.&#8239;&#8239;&#8239;&#8239;&#8239;Disputes;
No Impairment,&nbsp;etc</B>. The parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#8239;&#8239;
 &#8239;&#8239;<B>Disputes</B>. In the event of any dispute which arises between the Holder and the Company (including the Board)
with respect to the calculation or determination of Fair Market Value, VWAP, the adjusted Exercise Price, the number of Warrant
Shares, other Capital Securities, cash or other property issuable upon exercise of this Warrant Certificate, the amount or type of
consideration due to the Holder in connection with any event, transaction or other matter described in <B>Section&nbsp;4 </B>above
or any other matter involving this Warrant Certificate or the Warrant Shares that is not resolved by the parties after good faith
discussions and efforts to reach resolution, upon the request of the Holder the disputed issue(s)&nbsp;shall be submitted to a firm
of independent investment bankers or public accountants of recognized national standing, which (i)&nbsp;shall be chosen by the
Company and be reasonably satisfactory to the Holder and (ii)&nbsp;shall be completely independent of the Company (an
 &ldquo;<B><I>Independent Advisor</I></B>&rdquo;), for determination, and such determination by the Independent Advisor shall be
binding upon the Company and the Holder with respect to this Warrant, any Warrant Shares issued in connection herewith or the matter
in dispute, as the case may be, absent manifest error. Costs and expenses of the Independent Advisor shall be paid by the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;<B>Equitable
Equivalent</B>. In case any event shall occur as to which the provisions of <B>Section&nbsp;10(a)</B>&nbsp;above are not strictly applicable
but the failure to make any adjustment would not, in the reasonable, good faith opinion of the Holder, fairly protect the rights and benefits
of the Holder represented by this Warrant Certificate in accordance with the essential intent and principles of <B>Section&nbsp;10(a)</B>,
then, in any such case, at the request of the Holder, the Company shall submit the matter and issues raised by the Holder to an Independent
Advisor, which shall give its opinion upon the adjustment, if any, on a basis consistent with the essential intent and principles established
in <B>Section&nbsp;10(a)</B>, to the extent necessary to preserve, without dilution, the rights and benefits represented by this Warrant
Certificate. Upon receipt of such opinion, the Company will promptly mail a copy thereof to the Holder and shall make the adjustments
described therein, if any. Costs and expenses of the Independent Advisor shall be shared 50/50 by the Company and the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;<B>No
Avoidance.</B> The Company shall not, by way of amendment of any of its Charter or other Organic Documents or through any consolidation,
merger, reorganization, transfer of assets, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid
the observance or performance of any of the terms of this Warrant Certificate, and will at all times in good faith assist in the carrying
out of all such terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;11.&#8239;&#8239;&#8239;&#8239;&#8239;Compliance
with the Securities Act</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;<B>Agreement
to Comply with the Securities Act,&nbsp;etc</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Legend</B>.
The Holder, by acceptance of this Warrant Certificate, agrees to comply in all respects with the provisions of this <B>Section&nbsp;11</B>
and the restrictive legend requirements set forth on the face of this Warrant Certificate and further agrees that it shall not offer,
sell or otherwise dispose of this Warrant Certificate or any Warrant Shares to be issued upon exercise hereof except under circumstances
that will not result in a violation of the Securities Act. Subject to <B>clause (ii)</B>&nbsp;below, this Warrant Certificate and all
Warrant Shares issued upon exercise of this Warrant Certificate (unless registered under the Securities Act) shall be stamped or imprinted
with a legend in substantially the following form:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in; text-align: justify">&ldquo;THIS WARRANT CERTIFICATE AND THE
SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
 &ldquo;SECURITIES ACT&rdquo;), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY&nbsp;NOT BE OFFERED FOR SALE, SOLD, PLEDGED,
HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I)&nbsp;A REGISTRATION STATEMENT COVERING THE OFFER AND SALE OF SUCH SECURITIES
IS EFFECTIVE UNDER THE SECURITIES ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II)&nbsp;THE TRANSACTION IS EXEMPT FROM
THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE SECURITIES ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE
AND FOREIGN LAW AND,&nbsp;IN EACH CASE,&nbsp;IF THE COMPANY REQUESTS, AN OPINION SATISFACTORY TO THE COMPANY TO SUCH EFFECT HAS BEEN RENDERED
BY COUNSEL.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Removal
of Restrictive Legends</B>. Neither this Warrant Certificate nor any Warrant Shares issuable or deliverable under or in connection with
this Warrant Certificate shall contain any legend restricting the transfer thereof (including the legend set forth above in <B>clause
(i)</B>) in any of the following circumstances: (A)&nbsp;following any sale of this Warrant Certificate or any Warrant Shares issued or
delivered to the Holder under or in connection here with pursuant to Rule&nbsp;144, (B)&nbsp;if this Warrant Certificate or the Warrant
Shares are, and with respect to clause (i)(2)&nbsp;of Rule&nbsp;144 will continue to be, eligible for sale under clause (b)(1)&nbsp;of
Rule&nbsp;144, or (C)&nbsp;if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations
and pronouncements issued by the staff of the SEC) (collectively, the &ldquo;<B><I>Unrestricted Conditions</I></B>&rdquo;). If any of
the Unrestricted Conditions are met at the time of issuance of the Warrant Shares, to the reasonable satisfaction of the Company&rsquo;s
counsel, the Warrant Shares shall be issued free of all legends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Replacement
Warrant Certificate</B>. The Company agrees that at such time as the Unrestricted Conditions have been satisfied it shall promptly (but
in any event within ten (10)&nbsp;Business Days) following written request from the Holder issue a replacement Warrant Certificate or
replacement Warrant Shares, as the case may be, free of all restrictive legends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iv)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Sale
of Unlegended Shares</B>. The Holder agrees that the removal of the restrictive legend from this Warrant Certificate and any certificates
representing securities as set forth in <B>Section&nbsp;11(a)(ii)</B>&nbsp;above is predicated upon the Company&rsquo;s reliance that
the Holder will sell this Warrant Certificate or any such securities pursuant to either an effective Registration Statement or otherwise
pursuant to the requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom,
and that if such securities are sold pursuant to a Registration Statement, they will be sold in compliance with the plan of distribution
set forth therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;<B>Representations
of the Holder</B>. In connection with the issuance of this Warrant Certificate, the Holder represents, as of the Issue Date, to the Company
by acceptance of this Warrant Certificate as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder is an &ldquo;accredited investor&rdquo; as defined in Rule&nbsp;501 of Regulation D promulgated under the Securities Act. The Holder
is acquiring this Warrant Certificate and the Warrant Shares to be issued upon exercise hereof for investment for its own account and
not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant Certificate or the Warrant
Shares, except pursuant to sales registered or exempted under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder understands and acknowledges that this Warrant Certificate and the Warrant Shares to be issued upon exercise hereof are &ldquo;restricted
securities&rdquo; under the Securities Act inasmuch as they are being acquired from the Company in a transaction not involving a public
offering and that, under such Laws and applicable regulations, such securities may be resold without registration under the Securities
Act only in certain limited circumstances. In addition, the Holder represents that it is familiar with Rule&nbsp;144, as presently in
effect, and understands the resale limitations imposed thereby and by the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.8in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period and has such knowledge
and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in this Warrant
Certificate and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from the Company regarding
the terms and conditions of the offering of this Warrant Certificate and the business, properties, prospects and financial condition of
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;12.&#8239;&#8239;&#8239;&#8239;&#8239;Pre-Emptive
Rights</B>. In addition to any adjustments pursuant to <B>Section&nbsp;4 </B>above, if at any time the Company grants, issues, offers
or sells (i)&nbsp;any Common Shares or (ii)&nbsp;any Options, Convertible Securities or rights to purchase shares, warrants, securities
or other property, in each case pro rata to the record holders of Common Shares (the &ldquo;<B><I>Pre-emptive Rights</I></B>&rdquo;),
then the Holder shall be entitled to (but shall not be obligated to) acquire, upon the same terms applicable to such Pre-emptive Rights,
the aggregate Pre-emptive Rights which the Holder would have acquired if the Holder had held the number of Warrant Shares acquirable upon
complete exercise of this Warrant Certificate immediately before the date on which a record is taken for the grant, issuance, offer or
sale of such Pre-emptive Rights, or, if no such record is taken, the date as of which the record holders of Common Shares are to be determined
for the grant, issue, offer or sale of such Pre-emptive Rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;13.&#8239;&#8239;&#8239;&#8239;&#8239;Notices</B>.
All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to
have been given: (i)&nbsp;when delivered by hand (with written confirmation of receipt); (ii)&nbsp;when received by the addressee if sent
by a nationally recognized overnight courier (receipt requested); (iii)&nbsp;on the date sent by e-mail of a PDF document (with confirmation
of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours
of the recipient, in each case provided that sender did not receive an automated failed delivery notification; or (iv)&nbsp;on the third
day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent
to the respective parties at the addresses indicated below (or at such other address for a party as shall be specified in a notice given
in accordance with this <B>Section&nbsp;13</B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If to the Company:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;TriSalus
Life Sciences,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">6272 West 91<SUP>st</SUP>
Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Westminster, CO 80031</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Attn: Sean Murphy</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Email: sean.murphy@trisaluslifesci.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">with a copy to (which shall
not qualify as notice to any party hereto):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Cooley LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">10265 Science Center Drive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">San Diego, CA 92121</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Attn: Matt Browne; Carlos
Ramirez</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Email: mbrowne@cooley.com;
cramirez@cooley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If to the Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">OrbiMed Royalty&nbsp;&amp;
Credit Opportunities IV Offshore, LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">c/o OrbiMed Advisors LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">601 Lexington Avenue, 54<SUP>th
</SUP>Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">New York, NY 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Attention: Matthew Rizzo;
OrbiMed Credit Report</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Email: RizzoM@OrbiMed.com; ROSCreditops@orbimed.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">with a copy to (which shall
not qualify as notice to any party hereto):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Covington&nbsp;&amp; Burling
LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">The New York Times Building</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">620 Eighth Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">New York, NY 10018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Attention: Peter Schwartz;
Jennifer Uren</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Email: pschwartz@cov.com;
juren@cov.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;14.&#8239;&#8239;
 &#8239;&#8239;Cumulative Remedies</B>. Except to the extent expressly provided in <B>Section&nbsp;10</B> to the contrary, the rights
and remedies provided in this Warrant Certificate are cumulative and are not exclusive of, and are in addition to and not in
substitution for, any other rights or remedies available under applicable Laws, in equity or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;15.&#8239;&#8239;&#8239;&#8239;&#8239;Entire
Agreement.</B> This Warrant Certificate constitutes the sole and entire agreement of the parties to this Warrant Certificate with respect
to the subject matter contained herein and supersedes all prior and contemporaneous understandings and agreements, both written and oral,
with respect to such subject matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;16.&#8239;&#8239;&#8239;&#8239;&#8239;Successors
and Assigns.</B> This Warrant Certificate and the rights evidenced hereby (including under <B>Section&nbsp;6</B>) shall be binding upon
and shall inure to the benefit of the parties hereto and the successors of the Company and the successors and permitted assigns of the
Holder. Such successor or permitted assign of the Holder shall be deemed to be the &ldquo;Holder&rdquo; for all purposes hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;17.&#8239;&#8239;&#8239;&#8239;&#8239;No
Third-Party Beneficiaries</B>. This Warrant Certificate is for the sole benefit of the Company and the Holder and their respective successors
and, in the case of the Holder, permitted assigns, and nothing herein, express or implied, is intended to or shall confer upon any other
Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;18.&#8239;&#8239;&#8239;&#8239;&#8239;Headings</B>.
The headings in this Warrant Certificate are for reference only and shall not affect the interpretation of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;19.&#8239;&#8239;&#8239;&#8239;&#8239;Amendment
and Modification; Waiver.</B> Except as otherwise provided herein, this Warrant Certificate may only be amended, modified or supplemented
by an agreement in writing signed by each party hereto. No waiver by the Company or the Holder of any of the provisions hereof shall be
effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed
as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different
character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power
or privilege arising from this Warrant Certificate shall operate or be construed as a waiver thereof, nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;20.&#8239;&#8239;&#8239;&#8239;&#8239;Severability</B>.
If any term or provision of this Warrant Certificate is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality
or unenforceability shall not affect any other term or provision of this Warrant Certificate or invalidate or render unenforceable such
term or provision in any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;21.&#8239;&#8239;&#8239;&#8239;&#8239;Governing
Law. </B>This Warrant Certificate shall be governed by and construed in accordance with the internal Laws of the State of New York without
effect to any choice or conflict of Laws provision or rule&nbsp;(whether of the State of New York or any other jurisdiction) that would
cause the application of Laws of any jurisdiction other than those of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;22.
 &#8239;&#8239;&#8239;&#8239;Submission to Jurisdiction; Waiver of Jury Trial.</B> Except as provided in <B>Section&nbsp;10</B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;Any
legal suit, action or proceeding arising out of or based on this Warrant Certificate or the transactions contemplated hereby may be instituted
in the federal courts of the United States or the courts of the State of New York, in each case located in the city and county of New
York. Each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of process,
summons, notice or other document by certified or registered mail to such party&rsquo;s address set forth in <B>Section&nbsp;13</B> shall
be effective service of process for any suit, action or other proceeding, and the parties irrevocably and unconditionally waive any objection
to the laying of venue of any suit, action or other proceeding in such courts and irrevocably waive and agree not to plead or claim in
any such court that any such suit, action or proceeding has been brought in an inconvenient forum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY&nbsp;ARISE UNDER THIS WARRANT CERTIFICATE IS LIKELY TO INVOLVE COMPLICATED
AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY&nbsp;HAVE TO
A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS WARRANT CERTIFICATE. EACH PARTY
CERTIFIES AND ACKNOWLEDGES THAT (i)&nbsp;NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT,&nbsp;IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii)&nbsp;SUCH PARTY UNDERSTANDS
AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii)&nbsp;SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (iv)&nbsp;SUCH PARTY HAS
BEEN INDUCED TO ENTER INTO THIS WARRANT CERTIFICATE AND EACH ANCILLARY AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;23.&#8239;&#8239;&#8239;&#8239;&#8239;Counterparts</B>.
This Warrant Certificate may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be
deemed to be one and the same agreement. A signed copy of this Warrant Certificate delivered by facsimile, e-mail or other means of electronic
transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;24.&#8239;&#8239;&#8239;&#8239;&#8239;No
Strict Construction.</B> This Warrant Certificate shall be construed without regard to any presumption or rule&nbsp;requiring construction
or interpretation against the party drafting an instrument or causing any instrument to be drafted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[SIGNATURE PAGE FOLLOWS]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the Company
has duly executed this Warrant Certificate on the Issue Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: justify"><B>TRISALUS</B> <B>LIFE SCIENCES,&nbsp;INC.</B></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="text-align: justify; width: 5%">By: </TD>
               <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 45%">/s/ Sean Murphy</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">Name: </TD>
               <TD STYLE="text-align: justify">Sean Murphy</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">Title: </TD>
               <TD STYLE="text-align: justify">Chief Financial Officer</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[Signature Page&nbsp;to Warrant Certificate]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accepted and agreed,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><B>ORBIMED ROYALTY&nbsp;&amp; CREDIT <BR>
OPPORTUNITIES IV OFFSHORE, LP</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 3%">By:</TD>
<TD STYLE="width: 44%">OrbiMed ROF IV LLC, &nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD COLSPAN="2">its General Partner</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">By OrbiMed Advisors LLC,</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">its Managing Member</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify; width: 3%">By:</TD>
<TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify; width: 47%">/s/ Matthew Rizzo</TD>
<TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">Name: Matthew Rizzo</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: justify">Title: Member</TD>
<TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&nbsp;to Warrant Certificate]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>to Warrant Certificate</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;OF EXERCISE CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(To be signed only upon exercise of Warrant Certificate)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;TriSalus
Life Sciences,&nbsp;Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[Address]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Attention: [&#9679;]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned, as holder
of a right to purchase Warrant Shares (as defined in the Warrant Certificate) of TriSalus Life Sciences,&nbsp;Inc., a Delaware corporation
(the &ldquo;<B><I>Company</I></B>&rdquo;), pursuant to that certain Warrant Certificate of the Company, dated as of August&nbsp;15, 2024
(the &ldquo;<B><I>Warrant Certificate</I></B>&rdquo;), a copy of which is attached to this Exercise Certificate, hereby irrevocably elects
to exercise the purchase right represented by such Warrant Certificate for, and to purchase thereunder, [<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;(<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>)]
Warrant Shares of the Company and herewith makes payment with this Exercise Certificate of the Aggregate Exercise Price therefor by the
following method:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby elects
to make payment of the Aggregate Exercise Price of [<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>Dollars ($<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>)]
for (<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>) Common Shares using the method described in <B>Section&nbsp;3(b)(i)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby elects
to make payment of the Aggregate Exercise Price of [<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>Dollars ($<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>)]
for (<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>) Common Shares using the method described in <B>Section&nbsp;3(b)(ii)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby elects
to make payment of the Aggregate Exercise Price of [<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>Dollars ($<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>)]
for <U>(&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>) Common Shares using the method described in <B>Section&nbsp;3(b)(iii)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise defined herein,
capitalized terms have the meanings provided in the Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">DATED:__________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: left">[HOLDER]</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">&nbsp;</TD><TD STYLE="text-align: justify; width: 45%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">By</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Name:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 23; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>to Warrant Certificate</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;OF ASSIGNMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[DATE OF ASSIGNMENT]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THE UNDERSIGNED, [NAME OF
HOLDER], is the holder (in such capacity, the &ldquo;<B><I>Holder</I></B>&rdquo;) of a warrant certificate issued by TriSalus Life Sciences,&nbsp;Inc.,
a Delaware corporation (the &ldquo;<B><I>Warrant Certificate</I></B>&rdquo; and the &ldquo;<B><I>Company</I></B>&rdquo;, respectively),
entitling the Holder to purchase up to [<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>] Warrant Shares (as defined in the
Warrant Certificate). Unless otherwise defined, capitalized terms used herein have the meanings ascribed thereto in the Warrant Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED, the Holder
hereby sells, assigns and transfers to [NAME OF ASSIGNEE] (the &ldquo;<B><I>Assignee</I></B>&rdquo;) the right to acquire [all Warrant
Shares entitled to be purchased upon exercise of the Warrant Certificate] [<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
of the Warrant Shares entitled to be purchased upon exercise of the Warrant Certificate]. In furtherance of the foregoing assignment,
the Holder hereby irrevocably instructs the Company to (i)&nbsp;memorialize such assignment on the Warrant Register as required pursuant
to <B>Section&nbsp;5</B> of the Warrant Certificate, and (ii)&nbsp;pursuant to <B>Section&nbsp;7</B> of the Warrant Certificate, execute
and deliver to the Assignee [and the Holder][a new Warrant Certificate][new Warrant Certificates] reflecting the foregoing assignment
([each] a &ldquo;<B><I>Substitute Warrant Certificate</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Assignee acknowledges
and agrees that its Substitute Warrant Certificate and the Warrant Shares to be issued upon exercise thereof are being acquired for investment
and that the Assignee will not offer, sell or otherwise dispose of its Substitute Warrant Certificate or any Warrant Shares to be issued
upon exercise or conversion thereof except under circumstances which will not result in a violation of the Securities Act or any applicable
state securities laws. The Assignee represents and warrants for the benefit of the Company that the Assignee is an &ldquo;accredited investor&rdquo;
within the meaning of Rule&nbsp;501 of Regulation D promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the extent required pursuant
to <B>Section&nbsp;11(a)</B>&nbsp;of the Warrant Certificate, the Assignee acknowledges and agrees that a restrictive legend shall be
applied to the Assignee&rsquo;s Substitute Warrant Certificate and the Warrant Shares issuable upon exercise of such certificate substantially
consistent with the legend set forth in <B>Section&nbsp;11(a)(i)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[SIGNATURE PAGE FOLLOWS]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 24; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
hereto agree as set forth above as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD></TD><TD COLSPAN="2" STYLE="text-align: left">[HOLDER]</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="text-align: left; width: 5%">&nbsp;</TD><TD STYLE="text-align: justify; width: 45%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">By</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Name:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Title:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accepted and agreed,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD COLSPAN="2">[NAME OF ASSIGNEE]</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="text-align: left; width: 47%">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>By</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">Name:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">Title:</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 25; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Exhibit B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>tm2426916d3_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 23.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><IMG SRC="image_002.jpg" ALT="" STYLE="width: 309px; height: 102px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consent of Independent Registered Public Accounting
Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">We consent to the use of our report
dated April&nbsp;11,&nbsp;2024, with respect to the consolidated financial statements of TriSalus Life Sciences, Inc., included herein,
and to the reference to our firm under the heading &quot;Experts&quot; in the prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">/s/ KPMG LLP</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">Denver, Colorado<BR>
October&nbsp;29,&nbsp;2024</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 1; Options: NewSection Last -->
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
