CANBERA (dpa-AFX) - Anteris Technologies Global Corp. or ATGC, an Australian structural heart company, announced Friday that it has priced its initial public offering of 14.80 million shares of its common stock in the U.S. at an price of $6.00 per share.
In addition, ATGC has granted the underwriters a 30-day option to purchase up to an additional 2.22 million shares at the IPO price, less underwriting discounts and commissions.
The offering is expected to close on December 16, subject to customary closing conditions. The shares would begin trading on the Nasdaq Global Market on Friday under the ticker symbol 'AVR'.
ATGC intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, primarily for the ongoing development of its DurAVR transcatheter heart valve or DurAVR THV, and for the preparation and enrollment of a randomized global pivotal study of DurAVR THV for treating severe aortic stenosis.
The remainder will be used for working capital and other general corporate purposes, including the repayment of amounts owed under its convertible note facility.
In the offering, TD Cowen, Barclays and Cantor are acting as joint book-running managers, with Lake Street Capital Markets acting as lead manager.
Following the offering, ATGC intends to list its CHESS Depositary Interests on the Australian Securities Exchange under the symbol AVR.
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