Anteris Technologies completes U.S. IPO, dual-listing, and re-domiciliation to U.S.
Client(s) Anteris Technologies Global Corp.
Jones Day represented Anteris Technologies Global Corp. (NASDAQ: AVR; ASX: AVR) ("Anteris") in a first-of-its-kind series of transactions, including a concurrent U.S. re-domiciliation of an ASX-listed company, U.S. initial public offering (the "IPO"), and dual-listing on NASDAQ and ASX. The IPO consisted of a primary offering of 14,800,000 shares of Common Stock at a price of $6.00 per share, for aggregate proceeds of $88.8 million. The underwriters have a 30-day option to purchase an additional 2,200,000 shares of Common Stock.
Concurrent with the IPO, Anteris completed a series of Australian court-approved schemes of arrangement to effect its re-domiciliation to the U.S. (collectively, the "re-domiciliation") and dual-listing on ASX. As part of the re-domiciliation, Anteris received all of the issued and outstanding shares of Anteris Technologies Ltd ("ATL"), which was formerly an Australian public company listed on the Australian Securities Exchange ("ASX"), and ATL became a wholly owned subsidiary of Anteris. The shareholders of ATL immediately prior to the consummation of the IPO became holders of either one share of Anteris Common Stock for every Ordinary Share of ATL or one CHESS Depositary Interest ("CDI") over the Common Stock (a "CDI") for every one Ordinary Share of ATL held. Following the completion of the re-domiciliation, Anteris' Common Stock is listed on NASDAQ and the CDIs are listed on the ASX, each under the symbol "AVR."
Anteris is a structural heart company committed to discovering, developing, and commercializing innovative medical devices designed to improve the quality of life for patients with aortic stenosis. The proceeds raised under the IPO will support the development of Anteris' innovative DurAVR® transcatheter heart valve for treating aortic stenosis, which is the first transcatheter aortic valve replacement to use a single piece of bioengineered tissue.
Jones Day also advised ATL on a A$25 million convertible note bridging facility during the IPO process.
