Clifford Chance advises the underwriters on Avantium’s capital raise as part of a €46 million financing package

Global law firm Clifford Chance has advised its longstanding clients ABN AMRO Bank and Bryan, Garnier & Co as Joint Global Coordinators and Joint Bookrunners on Avantium’s €11.2 million capital raised through an accelerated bookbuild offering of 6,380,223 new ordinary shares, as part of a broader financing package of around €46 million. Settlement of the shares and their admission to listing and trading on Euronext Amsterdam and Euronext Brussels took place on 10 December 2024.

The net proceeds of the offering, together with Avantium’s current cash resources and the proceeds from the up to €35 million financing package, are expected to fund working capital requirements and start-up costs in 2025 related to the FDCA Flagship Plant in Delfzijl, the Netherlands. The remaining part of the net proceeds (if any) will be used by Avantium for general corporate purposes.

Avantium is a leading company in renewable and circular polymer materials. Avantium develops and commercialises innovative technologies for the production of materials based on sustainable carbon feedstocks, i.e. carbon from biomass or carbon from the air (CO2). Read more about the financing package here and the accelerated bookbuild offering here. These transactions follow on from Clifford Chance’s advice to the underwriters on Avantium’s €70 million funding for the completion, commissioning and start-up of the FDCA Flagship Plant earlier this year.

The cross-border Clifford Chance team was led out of Amsterdam by Han Teerink and further consisted of Olivier Plessis, advising on US securities laws aspects out of the Paris office, and Stijn Theunissen in Amsterdam.