(RTTNews) - Shares of Anteris Technologies Global Corp (AVR, AVR.AX) are up over 18% at $6.82 in premarket trading on Wednesday, following the pricing of its public offering.
The company has priced its public offering of 34.78 million shares at $5.75 per share. The gross proceeds of the offering amount to approximately $200 million.
In addition, Anteris has granted the underwriters a 30-day option to purchase up to an additional 5.22 million shares from the company at the public offering price, less underwriting discounts and commissions.
Also, Anteris has agreed to sell up to $90 million in shares directly to Medtronic plc (through a wholly owned subsidiary) at the same $5.75 per share price as in the public offering. The Medtronic offering is subject to a minimum purchase of 16.0% and a maximum purchase of 19.99% of the outstanding shares.
The Offering is expected to close on January 22, 2026.
Barclays, Wells Fargo Securities and Cantor are acting as joint book-running managers for the Offering.
Anteris intends to use the net proceeds from the offering to execute its clinical strategy, including ongoing recruitment and study execution of the DurAVR Transcatheter Heart Valve pivotal PARADIGM trial for patients with severe aortic stenosis, and to expand manufacturing capabilities.
In addition, a portion of the proceeds is expected to fund ongoing research and development for v2vmedtech, Inc.
Anteris' lead product, the DurAVR THV (Transcatheter Heart Valve), is designed to treat aortic stenosis, a potentially life-threatening condition caused by narrowing of the aortic valve.
The balloon-expandable DurAVR THV is the first biomimetic valve, which is shaped to mimic the performance of a healthy human aortic valve and aims to replicate normal aortic blood flow.
The PARADIGM Trial evaluates the safety and efficacy of DurAVR THV. The first patient was enrolled and implanted with DurAVR THV in Denmark during the fourth quarter of 2025.
Over the year, AVR traded in a range of $2.34 and $8.79.
AVR closed Tuesday's trade at $5.75, up 12.52%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
