Re:NewCell has completed a primary issuance of shares of SEK 324 million to Swedish and international institutional investors, including existing shareholders H&M and Girincubator. The subscription price was determined through an accelerated bookbuilding procedure.
Founded by innovators from Stockholm’s KTH Royal Institute of Technology in 2012, Re:NewCell is a multi-award-winning sustaintech company based in Sweden. Through its patented process, Re:NewCell is able to upcycle cellulosic textile waste, such as cotton clothes, transforming it into a pristine new material called Circulose®.
BNP Paribas and Carnegie acted as Joint Bookrunners. Baker McKenzie acted as legal advisor to BNP Paribas and Carnegie with an international Capital Markets team consisting of Joakim Falkner, Stefan Balazs, Johanna Flink and Henric Roth in Stockholm, Adam Farlow and Charles Farnsworth in London, as well as Paul DePasquale from the tax team in New York.