Closing of US IPO, NASDAQ listing, ASX Listing of CDIs

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Stock Anteris Technologies Ltd (AVR.ASX)
Release Time 17 Dec 2024, 9:50 a.m.
Price Sensitive Yes
 Anteris Technologies Closes US$88.8m U.S. IPO, Lists on NASDAQ and ASX
Key Points
  • Closed US$88.8m U.S. initial public offering
  • Listed on NASDAQ under ticker 'AVR' on Dec 13, 2024
  • Listed CDIs on ASX under ticker 'AVR' on Dec 17, 2024
Full Summary

Anteris Technologies Global Corp. (ATGC or Anteris) has announced the closing of its initial public offering of 14,800,000 shares of its common stock in the U.S. at a price of US$6.00 per share, raising approximately US$88.8 million (A$138.4 million) in gross proceeds. An additional 2,220,000 shares of common stock are issuable pursuant to the underwriters' option to purchase additional shares. ATGC's common stock is now listed on the Nasdaq Global Market under the ticker symbol 'AVR' as of December 13, 2024. On December 17, 2024, ATGC will list its CHESS Depositary Interests (CDIs), representing the underlying shares of common stock on a 1 CDI-for-1 share basis, on the ASX, also under the ticker 'AVR'. Anteris intends to use the net proceeds from the offering, along with its existing cash and cash equivalents, primarily for the ongoing development of its DurAVR® transcatheter heart valve and the preparation and enrollment of a randomized global pivotal study for treating severe aortic stenosis, with the remaining funds for working capital and other general corporate purposes.

Outlook

Anteris currently intends to use the net proceeds from the Offering, together with its existing cash and cash equivalents, primarily for the ongoing development of its DurAVR® transcatheter heart valve (DurAVR® THV) and the preparation and enrolment of a randomized global pivotal study of DurAVR® THV for treating severe aortic stenosis, with the remaining for working capital and other general corporate purposes determined from time to time, including the repayment of amounts owed under its convertible note facility.