Anteris Technologies Ltd announced that it will issue convertible note for gross proceeds of AUD 50,000,000 on February 6, 2023. The company has entered into binding agreement with the new investor, Yorkville Advisors Global LP. Under the agreement, the company expects to receive funding within 2 days.

The company can require the Investor to subscribe for new shares by issuing a drawdown notice, up to a maximum of AUD 50,000,000 worth of new shares over a 36 month period. Shares issued under the drawdown notice would be issued at a price equal to 93% of the lowest daily VWAP over a five-day period after company gives the drawdown notice to the Investor. Each drawdown may be up to the greater of such amount as is equal to 200% of the average daily traded value during the 5 days immediately prior to the date the company requests each drawdown, or AUD 5,000,000.

Each placement will utilize the company?s existing placement capacity under Listing Rule 7.1 or 7.1A as determined at the date of each placement or as otherwise advised to the market. A AUD 500,000 commitment fee would be payable to the Investor, AUD 250,000 of which may be settled in ordinary shares or cash. The non-binding agreement is subject to the Investor?s due diligence and internal approvals process, and entry into a binding agreement.