Anteris Technologies announces $200M public offering

Anteris Technologies Global (ASX:AVR), a structural heart company developing innovative medical devices, announced plans for a proposed US$200 million underwritten public offering of common stock.

The offering, subject to market conditions, includes a 30-day option for underwriters to purchase an additional $30 million of shares.

In a parallel move, Anteris has entered a stock purchase agreement with Medtronic plc to sell up to US$90 million of shares through a private placement, representing 16% to 19.99% of post-offering shares.

The private placement, exempt from US registration requirements, is contingent upon completion of the public offering, although the offering itself is not dependent on the Medtronic investment.

Proceeds from both transactions, along with existing cash reserves, will support Anteris' clinical and operational growth.

The funds will advance the DurAVR Transcatheter Heart Valve global pivotal trial for severe aortic stenosis, expand manufacturing capabilities, and support ongoing research and development initiatives for v2vmedtech, as well as general corporate purposes.

Barclays, Wells Fargo Securities, and Cantor Fitzgerald are serving as joint book-running managers, with Barrenjoey Markets advising on Asia-Pacific investments.

Wells Fargo Securities acts as sole placement agent for the Medtronic private placement. The offering is being conducted under a shelf registration statement filed with the SEC, effective Jan. 8.