Anteris Technologies Global Corp. (AVR,AVR.AX), a medical technology company, on Tuesday, 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 expected to close on January 22.
All shares are being granted underwriters a 30-day option to purchase up to an additional 5.22 million shares at the offering price.
Further, the company agreed to sell up to $90 million of stock to Medtronic plc (MDT) through a wholly owned subsidiary in a private placement priced at the public offering price.
The private placement is subject to a minimum purchase equal to 16.0% and a maximum of 19.99% of Anteris' shares outstanding after the offering.
The company said that the net proceeds from the offering, together with existing cash and proceeds from the private placement, are expected to fund clinical development and growth initiatives.
The company's planned net proceeds uses include ongoing recruitment and execution of the DurAVR Transcatheter Heart Valve global pivotal PARADIGM trial and expansion of manufacturing capabilities.
Additional proceeds are expected to support continued research and development for v2vmedtech, inc., as well as general corporate purposes.
Anteris Technologies closed trading 32.92% higher at AUD 9.69 on the Australian Securities Exchange.
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