Anteris Technologies Global Corp. (“ATGC” or “Anteris”) has successfully closed its initial public offering (IPO) of 14,800,000 shares of its common stock in the U.S., priced at $6.00 per share. The offering grossed approximately $88.8 million ($A 138.4 million) before underwriting discounts, commissions, and other expenses. Additionally, the underwriters have the option to purchase up to 2,220,000 additional shares of common stock, which could increase the gross proceeds by approximately $13.3 million if exercised in full.
The company’s common stock began trading on the Nasdaq Global Market under the ticker symbol “AVR” on December 13, 2024. On December 17, 2024, ATGC will also list its CHESS Depositary Interests (“CDIs”) on the Australian Securities Exchange (ASX) under the ticker symbol “AVR.” Each CDI represents one share of ATGC common stock.
The proceeds from the offering, along with existing cash reserves, will primarily be used for the continued development of Anteris’ DurAVR® transcatheter heart valve (THV) and to support a pivotal global study for treating severe aortic stenosis. The remaining funds will be allocated to working capital and other general corporate purposes, including the repayment of amounts owed under the company’s convertible note facility.
The IPO was underwritten by TD Cowen, Barclays, and Cantor, who acted as joint book-running managers, with Lake Street Capital Markets serving as the lead manager. The registration statement for the common stock was declared effective by the U.S. Securities and Exchange Commission (SEC) on December 12, 2024, and a final prospectus was filed the following day.
Anteris Technologies Global Corp. is a global structural heart company dedicated to designing, developing, and commercializing advanced medical devices to restore heart function. Originally founded in Australia, with a significant presence in Minneapolis, USA, Anteris focuses on innovative solutions for structural heart diseases.
The company’s flagship product, the DurAVR® Transcatheter Heart Valve, is designed to treat aortic stenosis, a condition where the aortic valve narrows and restricts blood flow, potentially leading to life-threatening complications. The DurAVR® valve is the world’s first biomimetic valve, shaped to mimic the function of a healthy human aortic valve. The valve is intended to replicate normal aortic blood flow, offering a promising alternative to traditional surgical valve replacements.
The DurAVR® valve is made from Anteris’ proprietary ADAPT® tissue, a patented anti-calcification technology that has been clinically used for over 10 years. ADAPT® tissue has been FDA-cleared and is currently used in over 55,000 patients worldwide. The DurAVR® system consists of the valve, ADAPT® tissue, and the ComASUR® Delivery System, which is a balloon-expandable delivery system designed for minimally invasive procedures.
Anteris’ vision is to improve the lives of patients with heart valve disease through groundbreaking innovations in structural heart technology, and the successful completion of its IPO marks a significant step in achieving this goal.