Global law firm Dentons has advised Pyrum Innovations AG (Pyrum) on a capital increase against cash contributions under exclusion of shareholders’ subscription rights. This was successfully placed on the market on October 22, 2024. A total of 363,637 new shares were issued at a placement price of € 27.50 per new share. The company will receive gross issue proceeds of approximately € 10 million. As part of the placement, Ralf Bohle GmbH, known for its “Schwalbe” brand, entered as a new investor in Pyrum. The proceeds from the capital increase will be used to expand the company’s production capacity.
The new shares will be included in the existing listing for trading on the open market of the Frankfurt Stock Exchange (Scale segment) and the Oslo Stock Exchange (Euronext Growth).
ICF BANK AG Wertpapierhandelsbank acted as banker for the transaction.
Pyrum is a pioneering greentech company, which uses its innovative pyrolysis technology developed in-house to recycle used tires sustainably. The company, based in Dillingen, Germany, builds and operates plants that recover high-quality raw materials such as oil, gas and coke from used tires, rubber and plastic waste and feed them back into the material cycle. Long-term purchase agreements are in place with Continental, Schwalbe and BASF, which has held a stake in Pyrum since September 2020.
Dentons previously advised Pyrum on its IPO on the Oslo Stock Exchange and dual listing on the Frankfurt Stock Exchange.
