BRISBANE, Australia & EAGAN, Minn. - Anteris Technologies Global Corp. (NASDAQ:AVR), a structural heart company, announced today the initiation of its roadshow for a proposed initial public offering (IPO) of 14.8 million shares of its common stock. The company also intends to grant underwriters a 30-day option to purchase up to an additional 2.22 million shares. Anteris has applied to list its shares on the Nasdaq Global Market under the ticker symbol "AVR."
The net proceeds from the IPO, alongside existing cash, are earmarked for further development of Anteris's DurAVR® transcatheter heart valve (THV), which is designed for treating severe aortic stenosis. With last twelve months revenue of $2.59 million and an EBITDA of -$61.56 million, the funds will support a global pivotal study of the DurAVR® THV and cover general corporate purposes, including repayment of amounts owed under its convertible note facility. InvestingPro analysis indicates a Weak financial health score, suggesting the importance of this capital raise for the company's development plans.
TD Cowen, Barclays (LON:BARC), and Cantor are serving as joint book-running managers for the offering, with Lake Street Capital Markets acting as the lead manager. Following the offering, Anteris plans to list its CHESS Depositary Interests (CDIs) on the Australian Securities Exchange (ASX) under the same symbol "AVR."
The offering will be made by means of a prospectus, which can be obtained from the book-running managers. A registration statement for the common stock has been filed with the Securities and Exchange Commission but has not yet become effective, meaning the securities may not be sold nor offers to buy accepted until the registration statement is effective.
Anteris Technologies Ltd, the Australian precursor to ATGC, is known for its innovative DurAVR® valve, which utilizes a single piece of bioengineered tissue and is designed to mimic a healthy human aortic valve. The company's ADAPT® tissue technology, used in the DurAVR® THV, has been clinically implemented for over a decade in over 55,000 patients worldwide.
The press release also includes forward-looking statements regarding the offering and trading of the common stock and CDIs, as well as the intended use of the net proceeds. These statements are subject to risks and uncertainties, and the company cautions readers not to place undue reliance on them.
This article is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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