PB
Avantium Strengthens its Financial Position to Support the Start-up of its FDCA Flagship Plant and Announces the Launch of an Accelerated Bookbuild Offering
THIS PRESS RELEASE IS RESTRICTED AND IS NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, WHETHER DIRECTLY OR INDIRECTLY AND WHETHER IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN OR IN ANY OTHER JURISDICTION IN VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
AMSTERDAM, 4 December 2024, 17:45 hrs CET – Avantium N.V. (hereinafter the “Company” or “Avantium”), a leading company in renewable and circular polymer materials, announces that it has secured an additional financing package of up to €35 million to support the start-up of its FDCA Flagship Plant in Delfzijl, the Netherlands, and reached an agreement with lenders to extend its existing debt financing facilities (the “Debt Financing Facilities”). In addition to this financing package, Avantium is launching a capital raise by means of an accelerated bookbuild offering for up to 8% of the outstanding shares (the “Offering”).
Additional financing package for the start-up of the FDCA Flagship Plant
Avantium has obtained commitments from its consortium of lenders (ABN AMRO Bank, ASN Bank, ING Bank, Rabobank, and Invest-NL (the “Lenders”)) to increase the existing Debt Financing Facilities of €105 million (excluding payment-in-kind interest) by €20.1 million.
The Province of Groningen has announced that it intends to provide a subordinated loan of up to €10 million to Avantium Renewable Polymers.
Dutch entrepreneur Pieter Kooi, an existing shareholder in Avantium, has provided a €5 million convertible loan to the Company.
etc