Anteris Technologies Global Corp. (AVR, AVR.AX) priced its public offering of 34.78 million shares at $5.75 per share, raising expected gross proceeds of about $200 million before fees and expenses. The offering is set to close on January 22.
Anteris Technologies Global Corp. (AVR, AVR.AX) recently announced the pricing of its public offering, which involves 34.78 million shares at $5.75 per share, aiming to generate approximately $200 million in gross proceeds. The offering is scheduled to conclude on January 22.
The company has also granted underwriters a 30-day option to acquire up to an additional 5.22 million shares at the offering price, providing potential upside for investors.
In addition to the public offering, Anteris Technologies has entered into a private placement agreement with Medtronic plc (MDT) through a wholly owned subsidiary, where Medtronic will purchase up to $90 million of stock at the public offering price. This private placement is contingent on specific conditions regarding the percentage of shares outstanding after the offering.
The net proceeds from the public offering, combined with existing funds and proceeds from the private placement, are earmarked for various purposes, including funding clinical development, expansion of manufacturing capabilities, and ongoing research and development initiatives. One of the key utilization areas for the funds is the DurAVR Transcatheter Heart Valve global pivotal PARADIGM trial, among other growth initiatives.
Anteris Technologies experienced a significant uptick in its stock price, closing trading 32.92% higher at AUD 9.69 on the Australian Securities Exchange, reflecting positive investor sentiment towards the company’s recent financial moves and growth prospects.
