Agilyx secures €20 million convertible bond placement

Agilyx ASA announced the successful placement of €20 million in subordinated convertible bonds due June 2028, with a total framework amount of €40 million. The bonds carry a fixed coupon rate of 10%, payable semi-annually with additional bonds (PIK interest). The initial conversion price is set at €1.9829, representing a 20% premium over the volume-weighted average share price on the Oslo Stock Exchange from October 22-24, 2025. Settlement is expected on November 20, 2025.

The issuance is contingent on shareholder approval at an extraordinary general meeting around November 18, 2025, to make the bonds convertible into shares while disapplying preferential rights. Shareholders representing approximately 79% of voting rights, including Saffron Hill Ventures, Corvina Holdings, and Lucerne Capital, have irrevocably committed to vote in favor. If the resolution fails, the bonds will not be issued.

Arctic Securities AS and DNB Carnegie are acting as managers for the convertible bond issuance. Agilyx is a leading global investment platform supporting plastic waste feedstock supply, holding significant stakes in GreenDot Global and Cyclyx, a joint venture with ExxonMobil and LyondellBasell.