Anteris Tech eyes US market liquidity with early-stage NASDAQ IPO paperwork

Anteris Technologies (ASX:AVR) has sent off early-stage paperwork to the United States regulator for a proposed NASDAQ IPO.

Related vehicle Anteris Technologies Global Corp (ATGC) has issued a Registration Statement on Form S-1 targeting the NASDAQ Global Select Market, one tier of that well-known bourse.

However, the news hasn’t been taken well by all investors: Shares were down -1.6% heading into lunchtime trade.

Worth noting is the deal isn’t really in any kind of concrete.

“A registration statement relating to the Common Stock has been filed with the SEC but has not yet become effective,” the company wrote on Monday.

“The Common Stock may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.”

Anteris Technologies’ main flagship offering is a next-gen heart valve designed “to mimic the performance of a healthy aortic valve,” per a one-line description on its website.

The company has a laboratory in Tbilisi, Georgia, where some of the company’s R&D-type development activities are carried out – most notably, its first human trial using its flagship heart product.

(A recent live-cross event to the ‘Cath Lab’ delivered during an investor presentation is worth watching to get an overall feel for the company’s operations.)

This wouldn’t be the first Australia-based biotech company to look at the far-more-liquid Wall Street markets this year.

Telix geared up to do the same earlier in 2024, backed by Morgan Stanley, but eventually pulled out of its attempt.

(That came even as the S&P 500 was really getting into the swing of its pervasive bull rally, but that’s neither here nor there for Anteris.)

A number of Australian companies have turned to U.S. markets in the last few years. In between the lines, the ASX remains depressed compared to its former glory – just look at the local IPO market – and liquidity has been a concern for a number of operators.

Tech stock Bigtincan is also soon headed for the NASDAQ, citing liquidity concerns, if you wanted proof this is happening in sectors beyond healthcare.

AVR last traded at $9.15.

Join the discussion: See what HotCopper users are saying about Anteris and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.