Pyrum raises €5.6 million to fund German expansion

Dillingen/Saar, Germany – Pyrum Innovations has raised €5.6?million through a cash capital increase to support new projects in Germany, including development of its planned site in Perl-Besch, Saarland. (ERJ report)

In a 10 July statement, the company said it placed 201,446 new ‘no-par value’ shares with institutional investors in a private placement at €28.00 per share.

Proceeds will also be used for new plants and general corporate purposes.

The transaction, approved by the supervisory board, met Pyrum’s minimum target of €5?million in gross proceeds.

The new shares carry full dividend rights from 1 January 2024.

Pyrum said it plans to include the new shares in trading on 22 July on the Frankfurt Stock Exchange’s Scale segment and on Euronext Growth in Oslo.