Anteris Technologies Ltd (ASX:AVR, OTC:AMEUF) subsidiary Anteris Technologies Global Corp (ATGC) has launched its US initial public offering (IPO) for 14.8 million shares of common stock, with an additional 2.22 million shares available for underwriters through a 30-day option.
Listing today on the Nasdaq
The company has launched a roadshow for the proposed IPO and ATGC has applied to list the Common Stock on the Nasdaq Global Market under the ticker symbol 'AVR'.
ATGC leverages its parent organisation’s expertise in structural heart medical devices.
The company intends to use proceeds from the offering for ongoing development of its flagship DurAVR® transcatheter heart valve (DurAVR® THV) and for the preparation and enrolment of a randomised global pivotal study of DurAVR® THV for treating severe aortic stenosis.
Remaining cash will go towards working capital and other general corporate purposes, including the repayment of amounts owed under its convertible note facility.
TD Cowen, Barclays and Cantor are acting as joint book-running managers for the proposed offering, with Lake Street Capital Markets acting as lead manager.
The offering marks a strategic step to expand the company’s presence in global capital markets.
Connection to Australian roots
Upon completion of the IPO, ATGC plans to list its CHESS Depositary Interests (CDIs) on the Australian Securities Exchange (ASX) under the ticker symbol 'AVR, maintaining a connection to its Australian roots.
The offering will proceed following regulatory approval, with a registration statement on Form S-1 filed with the US Securities and Exchange Commission.
ATGC has emphasised that no securities can be sold prior to the registration statement’s effectiveness.
About Anteris
Anteris Technologies is headquartered in Australia and has operations in Minneapolis.
The company’s DurAVR® THV, made using proprietary ADAPT® anti-calcification tissue technology, is designed to mimic the performance of a healthy human aortic valve, offering transformative solutions for aortic stenosis patients.