Anteris Technologies Ltd (ASX:AVR) (FRA:DDF) has received strong validation of its next-generation structural heart solutions by raising A$2.3 million in a placement to predominantly existing Top 10 institutional shareholders.
The company is placing 310,386 new ordinary shares at $7.50 each with funds to provide additional working capital.
Includes options
Placement investors will also receive one unlisted two-year option exercisable at $11.50 for every two new shares issued.
Issuing these 155,200 options is subject to shareholder approval and if this is not granted investors will instead receive a cash payment equivalent to $1.25 per option.
The placement was covered by the company’s available placement capacity under Listing Rule 7.1 and the placement price was fixed at a 9% discount to the 5-day VWAP.
Evolution Capital Advisors Pty Ltd facilitate the placement and will be paid a fee and receive 50,000 options on the same terms.
Shareholder approval to issue the options to placement investors and Evolution Capital Advisors will be sought at the company’s annual general meeting to be held in July 2021.
Next-gen technologies
Anteris is focused on developing next-generation technologies that help healthcare professionals create life-changing outcomes for patients.
The Anteris DurAVR™ aortic replacement valve addresses an acute need in terms of superior hemodynamic profile as well as chronic needs in its ability to sustain that profile longer over the lifetime of the patient.
Proven benefits of its ADAPT® tissue technology, paired with DurAVR™’s unique 3D single-piece aortic valve design, has the potential to deliver a functional cure to aortic stenosis patients and provide a much-needed solution to the challenges facing heart surgeons.