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Anteris Technologies (ASX:AVR) - CEO, Wayne Paterson
CEO, Wayne Paterson
Source: Anteris Technologies
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  • Anteris Technologies (AVR) places 625,000 new ordinary shares to Melbourne-based global investor L1 Capital to raise $5 million
  • Shares are priced at $8 each which represents a five per cent discount to Anteris’ last closing price of $8.65 on October 26
  • Additionally, 500,000 initial unlisted options will also be issued, exercisable at $10 with expiry four months after issue
  • Anteris will primarily use the funds to develop DurAVR, its 3D single-piece aortic valve for treating aortic stenosis (the abdominal narrowing of the aortic valve)
  • Shares in Anteris are up 4.76 per cent on the market and are trading at $8.80

Anteris Technologies (AVR) has placed 625,000 new ordinary shares to Melbourne-based global investor L1 Capital to raise $5 million.

Shares are priced at $8 each which represents a five per cent discount to Anteris’ last closing price of $8.65 on October 26.

Additionally, 500,000 initial unlisted options will be issued, exercisable at $10 with expiry four months after issue.

Subject to shareholder approval, Anteris will also issue 330,000 two-year unlisted options, exercisable at $15. These options will only be lodged if all initial options have been exercised.

Anteris will primarily use the funds to develop DurAVR, its 3D single-piece aortic valve for treating aortic stenosis (the abdominal narrowing of the aortic valve).

The company is currently in the process of working on its clinical study that will test the safety and feasibility of DurAVR on patients with aortic stenosis.

Once received, the data will enable Anteris to pursue its goal of receiving regulatory approvals in multiple jurisdictions.

Subject to regulatory approvals, initial patient enrolments in the United States and Europe are expected to begin in the upcoming quarters.

CEO Wayne Paterson commented on the capital raise.

“As the company is rapidly approaching its first in human studies we are very pleased to welcome L1 onto our share register,” Mr Paterson said.

“The presence of L1 alongside our other major investors puts the company in a strong position to carry out is clinical program during the course of 2022.”

Shares in Anteris were up 4.76 per cent on the market and were trading at $8.80 at 11:31 am AEDT.

AVR by the numbers
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