Anteris Technologies Now Trading on Nasdaq and ASX Following Re-domiciliation

3 min read | December 17, 2024 11:36 AM AEDT | By Team Kalkine Media

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Anteris Technologies Now Trading on Nasdaq and ASX Following Re-domiciliation — Image source: shutterstock

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Highlights

Anteris completes re-domiciliation to the US and begins trading on Nasdaq.

Shares of Anteris Technologies listed under (AVR) on the ASX and Nasdaq.

IPO funds will accelerate heart valve product development and clinical trials.

Anteris Technologies (ASX:AVR) has officially begun trading on the Nasdaq Global Market after finalising its re-domiciliation process to the United States. The company closed its initial public offering (IPO), raising approximately $88.8 million through the sale of its common stock. Shares of Anteris are now listed under the ticker (AVR) on both the ASX and Nasdaq.

As part of the IPO, Anteris issued over 14 million shares at a price of $6.00 per share in the US market. An additional allotment of shares could raise further funds if underwriters exercise their option to purchase additional shares under a Green Shoe mechanism. This option, if fully executed, would provide approximately $13.3 million in additional capital to Anteris.

Re-domiciliation Process and Shareholder Impact

The re-domiciliation of Anteris involved implementing share and option schemes of arrangement. Under the share scheme, all shares of ATL were transferred to Anteris Technologies Global Corp (ATGC), making it the parent entity of the Anteris Group. Eligible ATL shareholders received either ATGC common stock listed on Nasdaq or CHESS Depositary Interests (CDIs) for trading on the ASX under the ticker (AVR).

Approximately 21 million shares of ATGC were issued, with over 20 million underpinning the ASX-listed CDIs and the remaining shares directly trading on Nasdaq. For smaller or ineligible shareholders, associated CDIs will be sold via a sale facility, with proceeds distributed to respective holders. Holding statements are set for dispatch on December 18, 2024.

Use of IPO Funds

Anteris Technologies is advancing its pipeline of innovative medical devices designed to restore healthy heart function. A significant portion of the IPO proceeds will support the development and clinical evaluation of the company’s flagship product, the DurAVR® Transcatheter Heart Valve (THV).

The DurAVR® THV, constructed using Anteris’ patented ADAPT® anti-calcification tissue technology, is specifically designed to replicate the natural function of a healthy human aortic valve. The product integrates the DurAVR® valve with the ComASUR® Delivery System, a balloon-expandable mechanism aiding precise valve placement.

The funds will also support a pivotal global clinical trial to evaluate the safety and efficacy of DurAVR® THV in treating severe aortic stenosis, a condition affecting heart valve function. Additionally, proceeds will be allocated toward working capital, corporate purposes, and repayment of debts tied to convertible notes.

This re-domiciliation marks a critical milestone for Anteris Technologies (AVR), expanding its market presence and accelerating its innovations in cardiac health solutions.

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