- Anteris Technologies (AVR) has expanded its funding package with Mercer Street Global Opportunity Fund
- The health technology stock has closed the second tranche of funding facility with Mercer, raising $1 million before costs
- The company has also announced a $3.05 million capital raise via the issue of shares and convertible notes to Mercer
- The notes have a face value of $2.7 million, while over 55,000 shares prices at $9.58 will be issued and an additional 350,000 options
- The extra funding from Mercer will help Anteris advance the development of DurAVR — a 3D single-piece aortic valve for the treatment of aortic stenosis
- Shares in Anteris Technologies are down 1.09 per cent at $10.00 per share
Anteris Technologies (AVR) has expanded its funding package with Mercer Street Global Opportunity Fund.
The health technology stock advises it’s closed the second tranche of its funding facility with Mercer, announced back in January.
$1.08 million in convertible notes have been issued, helping raise an extra $1 million before costs for AVR.
The company has also unveiled a new $3.05 million funding package via the issue of shares, options and convertible notes to Mercer.
The notes have a face value of $2.7 million and will raise an additional $2.5 million in capital for Anteris.
The company will also issue over 55,000 shares at $9.58 per share — a 10 per cent discount to the five-day volume-weighted average price of AVR shares up to April 8.
Issuing the shares will reduce the total amount available to drawn down to $15.95 million, while a cash fee of 1.5 per cent is also payable.
Additionally, the healthtech stock will offer 350,000 three-year options to Mercer to purchase new shares in the company at an exercise price of $10.00.
Explaining what the additional funding will be used for, Anteris stated it would help advance the development of DurAVR, the company’s 3D single-piece aortic valve which can be used in the treatment of aortic stenosis.
Company shares are trading 1.09 per cent in the red at $10.00 per share at the close of market on Monday.