The large ATM overhang will likely pressure the stock near-term. Monitor sales pace via quarterly disclosures; heavy selling could cap upside. Positive PARADIGM trial milestones may offset dilution, but the certainty of future equity issuance is a headwind.
Price Chart
Executive Summary
Anteris Technologies Global Corp. filed a 424B5 prospectus supplement for an at-the-market (ATM) offering of up to $250 million of common stock through TD Cowen. The proceeds will primarily fund ongoing development of the DurAVR THV System. At the assumed price of $9.00/share, the offering would represent ~28.5% dilution relative to current market cap, with immediate dilution of $4.84/share for new investors.
Key Facts
- ATM offering up to $250,000,000 of common stock via TD Cowen
- 3.0% commission on gross proceeds to TD Cowen
- Proceeds to fund DurAVR THV System development and general corporate purposes
- Immediate dilution of $4.84 per share at assumed $9.00 price (55% of offering price)
- 97,232,054 shares outstanding as of March 31, 2026; up to 27,777,777 new shares (28.6% dilution) at $9.00
- Stock closed at $9.00 on May 21, 2026; market cap ~$876M
Financial Impact
Up to $250M gross proceeds with 3% underwriting fee; immediate dilution of $4.84 per share (55% of offering price) for new investors
Risk Factors
- Significant dilution to existing shareholders
- ATM sales may occur at prices below $9.00, increasing dilution
- Potential further equity offerings if cash runway needs extend
- Market overhang from large registered shares (including ~15.65M from Jan 2026 PIPE)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001140361-26-022632 |
| Document: ny20074564x1_ex107.htm | 0001140361-26-022632 |
| Document: 0001140361-26-022632-index-headers.html | 0001140361-26-022632 |
| Document: 0001140361-26-022632-index.html | 0001140361-26-022632 |
| Document: 0001140361-26-022632.txt | 0001140361-26-022632 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 21d ago | Insider Buy | $7.05 | awaiting T+20 | — | $6.00 (−14.89%) |
Oct 1, 2026 25d ago | Insider Buy | $7.71 | awaiting T+20 | — | $6.00 (−22.18%) |
Sep 23, 2026 4w ago | 8-K | $7.62 $6.01 | ▼ −21.13% | ▼ −21.82% | $6.00 (−21.26%) |
Sep 17, 2026 5w ago | 8-K | $8.16 $6.05 | ▼ −25.86% | ▼ −26.06% | $6.00 (−26.47%) |
Sep 16, 2026 5w ago | 3 | $8.37 $6.26 | ▼ −25.21% | ▼ −27.27% | $6.00 (−28.32%) |
Sep 8, 2026 7w ago | 8-K | $8.62 $7.05 | ▼ −18.21% | ▼ −20.18% | $6.00 (−30.39%) |
Aug 14, 2026 10w ago | Institutional Cluster | $9.42 $8.72 | ▼ −7.43% | ▼ −5.91% | $6.00 (−36.31%) |
Aug 11, 2026 10w ago | Press Release | $8.87 $8.30 | ▲ +6.43% | ▲ +4.53% | $6.00 (+32.36%) |
Jul 31, 2026 12w ago | 8-K | $7.84 $8.74 | ▲ +11.48% | ▲ +8.49% | $6.00 (−23.47%) |
Jul 28, 2026 13w ago | Insider Buy | $8.17 $8.89 | ▲ +8.81% | ▲ +5.43% | $6.00 (−26.56%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers