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Avantium announces the successful completion of its €70 million capital raise
- Avantium secures funding for the completion, commissioning and start-up of the FDCA Flagship Plant and the acceleration of its commercial deployment
- The gross proceeds from the rights offering is €50.5 million, resulting in the issue of 27,018,772 new ordinary shares
- 24,467,905 new ordinary shares were subscribed through exercise of rights, representing a 90.6% take-up in the rights offering
- The rump offering was fully subscribed
- Additional upsize offering of €19.5 million, resulting in the issue of 9,376,981 new ordinary shares
- The cornerstone investors and pre-committed shareholders were allocated €9.1 million at the issue price
- New investors were allocated €10.4 million at a price of €2.30, representing a 3.2% discount to the closing price on 8 February 2024
AMSTERDAM, 9 February 2024, 08:00 hrs CET – Avantium N.V. (the “Company” or “Avantium”) today announces it has raised a total of €70 million through the successful completion of its capital increase by means of a fully underwritten rights offering, for an amount of €50.5 million, and the completion of a €19.5 million institutional upsize offering.