Anteris Technologies Pty Ltd (ASX:AVR, NASDAQ:AVR) is proposing an underwritten public offering of US$200 million.
The company also plans to give underwriters a 30-day option to buy up to an additional US$30 million of shares at the public offering price (less underwriting discounts and commissions).
Separately, Anteris has entered a stock purchase agreement dated January 20, 2026 (US Eastern time) to sell up to US$90 million of common stock to Medtronic plc, via a wholly owned subsidiary, in a private placement exempt from US registration requirements.
The private placement price per share is to match the public offering price, with Medtronic’s participation capped by ownership thresholds: a minimum 16% and a maximum 19.99% of shares outstanding after completion of the public offering.
Completion of the private placement is contingent on completion of the public offering, but the public offering is not contingent on the private placement.
Use of funds
Net proceeds from the public offering, together with existing cash and cash equivalents and proceeds from the Medtronic private placement, are intended to support the next stage of growth and execution of its clinical strategy.
Key uses flagged include:
- progressing recruitment and study execution for the DurAVR® Transcatheter Heart Valve global pivotal trial in severe aortic stenosis (PARADIGM Trial)
- expanding manufacturing capabilities
- funding ongoing R&D for v2vmedtech, inc.
- working capital and other general corporate purposes.
Regulatory detail
The public offering is being made under Anteris’ shelf registration statement on Form S-3, declared effective on January 8, 2026 (US Eastern time). A preliminary prospectus supplement and accompanying prospectus have been or will be filed with the US Securities and Exchange Commission and will also be released to the ASX.
Anteris noted the shares to be sold in the Medtronic private placement have not been registered under the US Securities Act or state securities laws and therefore may not be offered or sold in the United States without registration or an applicable exemption.
Barclays, Wells Fargo Securities and Cantor are acting as joint book-running managers for the public offering.
Barrenjoey Markets Pty Ltd is acting as financial adviser for investors in Asia-Pacific and certain other jurisdictions outside the US and Canada.
Wells Fargo Securities is also acting as sole placement agent for the Medtronic private placement.