Agilyx Raises €14m via Tap of Convertible Bond to Fully Fund Strategy Through 2027

New updates have been reported about Agilyx.

Agilyx ASA has strengthened its balance sheet and extended funding visibility by issuing an additional €14 million in subordinated convertible bonds, tapping its existing 30 June 2028 bond line and bringing the total outstanding under this instrument to €37.4 million. The new tranche, priced at 80% of par and expected to settle on 5 March 2026 following a reverse enquiry handled by Arctic Securities, complements the company’s planned redemption of its senior bonds, which together materially enhance liquidity and support execution of its updated strategic plan through 2027. To align the new capital with prior tranche terms, Agilyx will call an extraordinary general meeting around 2 March 2026 to seek shareholder approval to make the bonds convertible into equity while waiving existing shareholders’ preferential rights, continuing the capital structure approach used in earlier issues.

CEO Ranjeet Bhatia said the new capital will underpin disciplined execution at GreenDot Global, in which Agilyx holds a 44% stake, framing it as the company’s near-term earnings growth engine and primary driver of value creation. GreenDot, positioned as Europe’s largest waste plastic recycling platform with more than €400 million in annual revenue and infrastructure across Germany, Austria and Italy, provides Agilyx with secured access to post-use plastic feedstock and advanced sorting and recycling capacity for the European market. In parallel, Agilyx is pursuing a capital-light growth model around its technology portfolio, notably the Styrenyx advanced recycling process for converting polystyrene waste into recycled styrene monomers, which is being commercialized primarily through scalable licensing. Management underscores that the post-reorganization structure is designed to blend near-term cash generation from GreenDot with longer-term upside from technology and offtake agreements, positioning Agilyx as a more resilient, value-focused platform in the circular plastics and low-carbon materials ecosystem.