Carbios has announced a capital increase of €141m in cash with preferential subscription rights through the issue of 5,558,695 new shares at a subscription price of €25.32 per share.
Approximately 85% of the net proceeds will be used to finance the construction of the first plant, with an estimated processing capacity of 50,000 tonnes a year and an estimated investment of approximately €230 million. In this respect, it is specified that the proportion of the investment in the first plant not funded from the net proceeds of the issue will be funded through financing to be received from Indorama Ventures (around €110m), subsidies from the French government (€30 m) and from the Grand-Est Region (€12.5m) and by part of the companys available cash (totalling €83mas at 31 May 2023).
The remainder of the net proceeds will be used to finance expenses related to its PET R&D activities and to step up research on other polymers and/or further applications of its technologies.
