REC Silicon Seeks NOK 972.6 Million in Rights Issue to Shore Up Finances

The latest update is out from REC Silicon ASA ( (RNWEF) ).

REC Silicon ASA plans to raise NOK 972.6 million through a fully underwritten rights issue of 4,078,000,000 new shares at NOK 0.2385 per share, backed by its largest shareholder Anchor AS. The proceeds will be used to repay about USD 30 million in advance payments on a long-term offtake contract, around USD 40 million in existing debt, and approximately USD 30 million for general corporate purposes and working capital.

The capital increase, which is subject to approval at an extraordinary general meeting and a par value reduction, comes as REC Silicon continues to post operating losses and faces insufficient cash to meet debt service and operating needs without shareholder support or fresh funding. Preliminary Q4 2025 figures show revenues rising to USD 20.1 million and the EBITDA loss narrowing to USD 3.7 million, underscoring some operational improvement but highlighting ongoing financial strain and the importance of the rights issue for creditors and shareholders.

More about REC Silicon ASA

REC Silicon ASA is a Norway-based producer in the advanced materials and solar value chain, focused on manufacturing polysilicon and related silicon materials for the global solar and electronics industries. The company serves international customers exposed to cyclical demand and pricing, leaving its operations sensitive to capital availability and long-term offtake agreements.

YTD Price Performance: 3.20%

Average Trading Volume: 259,264

Current Market Cap: NOK447.1M

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