Anteris Technologies Ltd (ASX:AVR, OTC:AMEUF) has announced the pricing of its US initial public offering (IPO) through its holding company, Anteris Technologies Global Corp (ATGC), a first step into an important market for the company.
This follows the effective registration of the IPO with the US Securities and Exchange Commission on December 12, 2024.
Expanding into US
The IPO is part of the company’s strategy to expand its presence in global capital markets as it progresses its innovations in cardiovascular health.
The IPO involves the offering of 14.8 million shares of common stock at a price of US$6.00 per share.
Trading kicked off on the Nasdaq Global Market under the AVR ticker on December 13, with the offering expected to close on December 16, subject to customary conditions.
ATGC has also granted underwriters a 30-day option to purchase up to an additional 2.22 million shares.
Proceeds for flagship heart valve
The company plans to use the proceeds to further the development of its DurAVR® transcatheter heart valve (DurAVR® THV) technology, including preparation for a global pivotal study for treating severe aortic stenosis, alongside general corporate purposes and debt repayment.
TD Cowen, Barclays (LON:BARC) and Cantor are acting as joint book-running managers for the IPO, with Lake Street Capital Markets serving as lead manager.
ATGC intends to list its CHESS Depositary Interests (CDIs), representing underlying common stock, on the ASX under the AVR ticker from December 17, 2024 (Australian time).
Following the IPO, ATL confirmed that the implementation timetable for its previously announced schemes is proceeding as planned.
Key dates include the commencement of normal trading for CDIs on December 17, 2024, and the dispatch of CDI and share statements on December 18, 2024.