Avantium Launches €65 Million Rights Offering
- Avantium launches a €65 million rights offering with an 11 for 8 rights issue at €5.40 per share.
- Cornerstone investments total €12.25 million, with full underwriting covering €52.75 million.
- The rights trading period is from 5 September to 15 September 2025, with exercise until 17 September.
- Commercial operations for PEF are expected to begin in Q1 2026.
Rights Offering Details
Avantium has announced a €65 million rights offering, fully committed and underwritten. The offering involves an 11 for 8 rights issue of 12,103,283 ordinary shares at an issue price of €5.40 per share, representing a 40% discount to the theoretical ex-rights price based on the closing price of €13.95 on 3 September 2025.
Investment and Underwriting
Cornerstone investments and irrevocable shareholder commitments total €12.25 million, including contributions from long-term shareholders such as VP Capital NV, Pieter Kooi Holding B.V., and Navitas B.V., covering 18.7% of the offering. The remaining balance of €52.75 million is fully underwritten.
Timeline and Key Dates
The ex-rights date is set for 5 September 2025. The rights trading period will run from 9:00 CEST on 5 September to 17:36 CEST on 15 September 2025. The record time is 17:40 CEST on 8 September 2025, and the exercise period extends from 9:00 CEST on 5 September to 17:45 CEST on 17 September 2025.
Operational Progress
Avantium has successfully started up the sugar dehydration unit, a key component of its FDCA Flagship Plant, converting plant sugars into MMF. The company plans to begin commercial operations for its plant-based and circular material, PEF, in the first quarter of 2026. This progress is supported by 20 partners with signed offtake agreements from the FDCA Flagship Plant.
Source: Avantium