“Despite some advantages, such as relatively expeditious access to US capital markets, the company’s board concluded the timing of the proposal was not in shareholders' nor the company’s best interest at this point,” Anteris stated on Tuesday.
Anteris Technologies Ltd (ASX:AVR, OTC:AMEUF) has declined a proposal to merge with NASDAQ-listed special purpose acquisition company Medicus Sciences Acquisition Corp (MSAC).Last week, the ASX-listed structural heart company was tapped to join forces with the blank check business.If the deal went ahead, the merged entity would hold at least US$50 million in cash, plus the existing funds held by the company.At the time, Anteris said it would weigh up the proposal’s risks and rewards and the value it would provide shareholders.
Now, the board has said “no deal” and confirmed it will not proceed with the proposal.“Despite some advantages, such as relatively expeditious access to US capital markets, the company’s board concluded the timing of the proposal was not in shareholders' nor the company’s best interest at this point,” Anteris stated on Tuesday.“The company appreciates its shareholders’ support and remains focused on achieving its objectives throughout 2022.”Anteris CEO Wayne Paterson continued: “MSAC’s proposal underscores the high interest in the company’s game-changing DurAVRTM transcatheter heart valve potential, not only among the US transcatheter aortic valve replacement (TAVR) interventionist fraternity but, also, in key sections of US capital markets.”
AVR Price at posting:
$22.60 Sentiment: Buy Disclosure: Held
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