Avantium has raised US$33.6m via an accelerated bookbuild offering

April 2021 — Avantium N.V. has raised US$33.6 million through an accelerated bookbuild offering of 5,206,589 new ordinary shares, representing approximately 19.99% of the company’s issued share capital. The shares have been placed at a price of US$6.42 (€5.35) per new ordinary share.

Avantium, founded in 2000 and headquartered in Amsterdam, is a leading technology development company and a forerunner in renewable chemistry. Together with its partners around the world, the company focuses on developing and commercializing breakthrough technologies for the production of chemicals from renewable sources and circular plastic materials used for a variety of consumer products. In addition, the company also provides advanced catalysis R&D services and systems to clients active in the refinery and chemical industries.

In January 2020, Avantium signed a letter of intent regarding its new FDCA flagship plant in Delfzijl, the Netherlands, for which it has currently signed five conditional offtake agreements for over 50% of its production capacity. The world’s first commercial FDCA plant will produce plant-based FDCA, a key building block for many chemicals and plastics such as PEF. The US$33.6 million capital increase marks an important step for Avantium towards a positive final investment decision for the construction of the plant.

Our role in the transaction

Oaklins’ team in the Netherlands acted as financial advisor to Avantium and raised over 17% of pre-commitments.