Anteris Technologies leaps after Medtronic investment, $200 mln stock offering

Medtronic

21/01/2026 11:51

** U.S.-listed shares of heart-valve maker Anteris Technologies AVR.O up 13% at $6.50 before the bell after Medtronic MDT.N investment, $200 mln follow-on offering

** Co, whose principal executive offices are in Australia, late Tues announced ~34.8 mln shares at $5.75, in line with stock's last close

** It also agreed to sell to MDT up to $90 mln of stock in private placement, subject to minimum purchase of 16% and maximum purchase of 19.99% of its outstanding shares after the offering

** Anteris intends to use net offering proceeds from both financings for ongoing recruitment and study execution of the DurAVR Transcatheter Heart Valve global trial for patients with severe aortic stenosis (the "PARADIGM Trial") and expansion of manufacturing capabilities, among other uses

** Barclays, Wells Fargo and Cantor Fitzgerald joint bookrunners for stock offering; Wells Fargo sole agent on MDT private placement

** Prior to the offering, Anteris had ~41.2 mln shares outstanding

** AVR shares on Tues rose 12.5%, extending 2026 gain to ~15%. In 2025, shares lost ~11%

** All 4 analysts covering AVR rate the stock "buy"; median PT $17.50, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))