I think the plan for a US listing has been more to increase...

I think the plan for a US listing has been more to increase access to capital beyond Perceptive more than anything else. We did add another US firm with Affinity Asset Advisors participating in the last raise but they are a relatively tiny fund.

A Nasdaq listing is a pain to accomplish and would require a capital raise timed with the listing so that's why I offered Cboe as an alternative. Cboe has historically just listed options and ETFs in the US but are branching out into individual companies with what they are calling a Global Listing, which should be much easier than Nasdaq, especially since we are already traded on Cboe Australia. What the Global Listing offers is being simultaneously listed on all of Cboe's platforms: US, Canada, UK, Netherlands and Australia. Another company I own, Abaxx Technologies, is the first company planning to list this way (they are already listed on Cboe Canada).

It's important to remember that while Anteris is traded in the US as AMEUF, it trades over the counter. That means it's not traded through an exchange, only among broker-dealers and big funds generally don't touch most OTC stocks. Perceptive bought AVR, not AMEUF. They were willing to do that because they are a specialized healthcare fund, as is Affinity, but most US funds aren't going to buy ASX traded shares. That's why we need a US listing.

So as we need more capital (I project $240 million in raises over the next 6 years), we'll need a broader base of potential institutional investors to raise that kind of dough and will likely need to be listed on a US exchange to accomplish that.