Avantium announces partial exercise of over-allotment option bringing the gross proceeds of its Initial Public Offering to € 109 million
Amsterdam, the Netherlands: 13 April 2017 – Avantium N.V., a leading chemical technology company and forerunner in renewable chemistry, today announces that the Joint Global Coordinators, on behalf of the underwriters, have partially exercised the over-allotment option bringing the gross proceeds of its Initial Public Offering to € 109 million. As part of the initial public offering of Avantium on Euronext Amsterdam and Brussels and as set forth in the prospectus dated 3 March 2017, the Company had granted an over-allotment option to the underwriting banks of up to 1,402,971 new shares in the capital of Avantium.
The Joint Global Coordinators have notified the Company that the Over-Allotment Option has been partially exercised. In total 519,794 Over-Allotment Shares will be issued by Avantium resulting in a total gross Over-Allotment Option proceeds of € 5.7 million and increasing the final size of the Offering to 9,921,587 shares and the total gross proceeds of the Offering to € 109 million. Issuance of the Over-Allotment Shares is expected to occur on 19 April 2017. Following the issuance of Over-Allotment Shares Avantium’s issued share capital shall comprise 25,764,466 ordinary shares with a nominal value of €0.10 each (ISIN NL0012047823).
More info on Avantium’s website.