Comprehensive Funding Package
Avantium aims to secure a comprehensive funding package, combining government investments, equity and amended debt terms, to finance its path to profitability. A key element is now the agreed extension and amendment of its Debt Financing Agreement with its Lenders, subject to a successful equity raise. Upon completion of the equity raise, Avantium will cancel the remaining €14.1 million debt commitment by the Lenders in exchange for substantially improved terms, which are designed to enhance long-term cash preservation through materially lower interest rates and reductions in repayment obligations. The key amendments include:
- Extension of the loan maturity date to 30 June 2028 (from 31 March 2026).
- Lower interest rates, with part of the cash interest converted to payment-in-kind, subject to key milestones.
- Issuance of warrants connected to the extension of the loan maturity, with a value of approximately €2.5 million, with the warrant price calculated based on the 30-day VWAP of Avantium’s shares ending on 12 August 2025. All outstanding warrants held by the Lenders (excluding ASN) will be subject to a lock-up period ending 180 days after the completion of the equity raise.
Avantium plans to launch an equity raise in September 2025. Avantium has secured conditional support from Invest-NL to act as an underwriter for the equity raise and is currently in active discussions with a number of financial institutions and investors to obtain further support in the form of underwriting and pre-commitments. Full details will be provided in a forthcoming prospectus.
