Pyrum launches €21m capital increase to fund expansion

Dillingen/Saar, Germany – Pyrum Innovations AG has approved a capital increase of up to €21 million to support its expansion projects.

The management board resolved to raise the company’s share capital by up to €763,764 to €4.58 million through the issue of as many new registered shares, the German waste tire recycler announced 25 Nov.

The new shares will be offered to existing shareholders at a 5:1 subscription ratio and at a subscription price of €27.50 per share.

“The new shares will be issued at a minimum issue price of €1.00 per share” and will carry “full dividend rights from 1 January 2025,” said Pyrum.

The subscription period runs from 26 Nov to 10 Dec, with no trading of subscription rights.

If fully placed, Pyrum expects gross proceeds of “approximately €21 million,” from the process, before issuance costs.

The company intends to use the funds “for investments at its site in Dillingen/Saar” and to strengthen the equity in the new plant in Perl-Besch, Germany as well as supporting investment in further joint venture plants.