EQS-News: Lenzing AG launches fully underwritten capital increase with subscription rights

EQS-News: Lenzing AG / Key word(s): Capital Increase
   Lenzing AG launches fully underwritten capital increase with subscription
   rights

   01.10.2026 / 08:33 CET/CEST
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE
   UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN
   WHICH SUCH DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE SEE THE
   IMPORTANT INFORMATION AT THE END OF THIS COMMUNICATION.

   Lenzing AG launches fully underwritten capital increase with subscription
   rights

    

     • Cash capital increase with subscription rights targeting gross
       proceeds of approximately EUR 300 mn
     • Lenzing intends to use the proceeds to support the implementation of
       its “Grow Nonwovens, Reset Textiles” corporate strategy and to
       strengthen its capital structure
     • The offering is subject to the approval of the offering prospectus by
       the Austrian Financial Market Authority (FMA) and its publication by
       the Company, both of which are expected today
     • The subscription price has been set at EUR 8.65 per share
     • For every 10 existing shares held, each shareholder may subscribe for
       9 new shares
     • The syndicate comprising the B&C Group and Suzano S.A., Lenzing’s
       indirect majority shareholders, has committed to exercise all of its
       subscription rights. In addition, Oberbank AG has committed to
       exercise all of its subscription rights
     • The syndicate and Oberbank AG have agreed to a customary six-month
       lock-up
     • The subscription period is expected to commence on October 6, 2026,
       inclusive, and to end on October 20, 2026, inclusive
     • The subscription rights are expected to be traded on the Official
       Market of the Vienna Stock Exchange from October 6, 2026, inclusive,
       until October 14, 2026, inclusive
     • The international private placement of any unsubscribed new shares is
       expected to take place on October 20, 2026

    

   Lenzing, Austria, October 1, 2026 – The Management Board of Lenzing
   Aktiengesellschaft (“Lenzing” or the “Company”), with the consent of the
   Supervisory Board, has resolved, on the basis of the authorization granted
   by the Extraordinary General Meeting on August 25, 2026, to carry out a
   fully underwritten ordinary capital increase against cash contribution
   with subscription rights for existing shareholders.

    

   The capital increase is fully underwritten by BNP Paribas, UniCredit,
   COMMERZBANK, and Erste Group (the "Joint Global Coordinators"), as well as
   Raiffeisen Bank International, based on the commitments provided by the
   syndicate comprising Lenzing's indirect majority shareholders, B&C Group
   and Suzano S.A., and by Oberbank AG. The offering is intended to generate
   gross proceeds of approximately EUR 300 mn.

   The proceeds from the offering will provide Lenzing with additional
   financial flexibility, support the implementation of its "Grow Nonwovens,
   Reset Textiles" strategy, and further strengthen the Company's capital
   structure.

    

   "With the launch of the capital increase, we are taking a decisive step
   forward in executing our strategic transformation. The transaction
   provides us with the financial flexibility required to expand our
   nonwovens business, reposition our textiles business, and sustainably
   enhance the competitiveness of the Lenzing Group. Together with our
   focused premium product portfolio and strong innovation pipeline, we are
   creating the foundation for profitable growth and a more resilient,
   future-oriented Lenzing Group," says Georg Kasperkovitz, CEO of the
   Lenzing Group.

    

   At the end of July this year, the Lenzing Group announced its strategic
   transformation under the program "Grow Nonwovens, Reset Textiles" to
   consistently align the business with sustainable, profitable growth and a
   stronger capital structure. The strategy focuses on significantly
   expanding the nonwovens business, sharpening the textiles business toward
   differentiated premium segments and strategic customer partnerships, and
   further strengthening the profitable pulp and biorefinery business. As
   part of this transformation, Lenzing is optimizing its global production
   network by strengthening selected core sites, including Lenzing, Austria,
   while discontinuing fiber production at the Heiligenkreuz (Austria) and
   Grimsby (United Kingdom) sites. To ensure a smooth transfer of production
   volumes to other Lenzing sites, the closure of the Heiligenkreuz
   production facility is now planned for the end of the first quarter of
   2027. In Grimsby, production is still expected to cease by the end of
   2027, while the divestment process for the Purwakarta (Indonesia) site
   remains ongoing. In addition, Lenzing is implementing a focused
   performance program targeting savings of EUR 120 mn compared with 2025.
   Alongside the capital increase with subscription rights targeting gross
   proceeds of approximately EUR 300 mn, Lenzing has secured new financing of
   up to EUR 300 mn and agreed extensions of existing financing arrangements
   through 2030. Over the medium term, Lenzing aims to increase EBITDA by EUR
   150 mn, achieve an EBITDA margin of 20 to 25 percent, and reduce net
   leverage to below 2.5x EBITDA.

    

   "The capital increase further strengthens our equity base and creates a
   more balanced financing profile. Together with the planned credit
   facilities and maturity extensions, we intend to gradually reduce
   leverage, proactively address upcoming maturities, and secure funding for
   the strategic transformation. This will align our capital structure over
   the long term with the Company's strategic and operational priorities,"
   says Mathias Breuer, CFO of the Lenzing Group.
    

   Key terms of the offering

   As part of the offering, 34,756,362 new no-par value bearer shares
   carrying dividend rights as from January 1, 2026 are to be issued. The
   subscription price is EUR 8.65 per new share. This represents a discount
   of 42.50 percent to the theoretical ex-rights price, calculated on the
   basis of the closing price of the Lenzing share on September 30, 2026. The
   gross proceeds from the offering will amount to approximately EUR 300 mn.

    

   Each shareholder will receive one subscription right for each Lenzing
   share held as of 11:59 p.m. Central European Summer Time on October 1,
   2026. The subscription ratio is 10 to 9. Accordingly, for every 10
   existing shares held or the corresponding number of subscription rights,
   shareholders and holders of subscription rights will be entitled to
   subscribe for 9 new shares. No compensation will be paid for subscription
   rights that are not exercised. The subscription rights will, however, be
   transferable and may be traded in the auction market of the Official
   Market of the Vienna Stock Exchange during the scheduled rights trading
   period.

    

   Any new shares not subscribed for by existing shareholders or holders of
   subscription rights may be offered for purchase to selected institutional
   and other qualified investors by way of an international private
   placement. The offer price in the private placement will be at least equal
   to the subscription price.
    

   Subscription commitments and lock-up arrangements

   The syndicate formed by the B&C Group and Suzano S.A. currently indirectly
   holds approximately 52.25 percent of Lenzing’s share capital. Subject to
   customary conditions, the syndicate has irrevocably committed to
   subscribe, in proportion to its shareholding, for 18,159,291 new shares at
   the subscription price as part of the offering, whereby Suzano S.A. will
   sell a portion of its subscription rights, entitling the holder to
   subscribe for 1,757,754 new shares, to a B&C Group company. The B&C Group
   has committed to exercise these subscription rights. Suzano S.A. will, as
   part of the capital increase, invest a total of approximately EUR 22.5
   million in new capital. The exercise of all subscription rights
   attributable to the syndicate will generate gross proceeds of
   approximately EUR 157.1 mn. Oberbank AG, which holds approximately 3.87
   percent of Lenzing’s share capital, has also committed, subject to
   customary conditions, to subscribe, in proportion to its shareholding, for
   1,344,168 new shares at the subscription price. This corresponds to gross
   proceeds of approximately EUR 11.6 mn. Following the offering, B&C Group
   will indirectly hold approximately 39.64 percent and Suzano S.A. will
   indirectly hold approximately 12.60 percent of Lenzing's share capital.
   The syndicate and Oberbank AG have each agreed to a customary six-month
   lock-up in respect of the shares held by them, save that up to an
   aggregate of 1,757,754 shares held by the B&C Group, corresponding to the
   number of shares to be subscribed for by the B&C Group upon exercise of
   the subscription rights acquired from Suzano S.A., will be exempt from the
   lock-up.

    

   The existing syndicate agreement between B&C Group and Suzano S.A.
   regarding representation of the two majority shareholders on the
   Supervisory Board will remain unchanged. This also applies to Suzano
   S.A.'s contractual option to acquire up to a 15 percent stake in Lenzing
   from B&C Group by the end of 2028.

    

   Patrick Lackenbucher, Chairman of the Supervisory Board of Lenzing AG, and
   Carlos Anibal Almeida, Deputy Chairman of the Supervisory Board, jointly
   state as representatives of the core shareholders B&C Group and Suzano
   S.A.: “We fully support Lenzing AG’s strategic transformation, including
   the announced performance and capital measures. We believe that the new
   strategic direction under “Grow Nonwovens, Reset Textiles” provides a
   strong basis to sustainably strengthen the Company’s competitiveness,
   profitability and long-term value creation potential.”

    

   Goldman Sachs Asset Management B.V., managing 6.20 percent of Lenzing’s
   share capital on behalf of three investment management client entities
   forming part of NN Group (the “NN Shareholders”), has informed Lenzing
   that it intends to instruct a sale of existing Lenzing shares held by
   these entities ex-rights to investors prior to the start of the
   subscription period with a view to generating aggregate net proceeds of
   approximately EUR 18 mn through a private placement. The take-up of the
   Rights to be granted to the NN Shareholders is conditional upon successful
   completion of the private placement. Launch and pricing of the private
   placement will be determined at the sole discretion of NN Shareholders.
   The net proceeds from this private placement will be used to fund the
   take-up of the Rights to be granted to the NN Shareholders.
    

   Indicative timetable for the offering

   Subject to the publication of the prospectus approved by the Austrian
   Financial Market Authority (FMA), the new shares will be offered to
   existing shareholders by way of indirect subscription rights pursuant to
   section 153(6) of the Austrian Stock Corporation Act. Erste Group Bank AG
   will act as subscription agent. The subscription period is expected to run
   from Tuesday, October 6, 2026, up to and including Tuesday, October 20,
   2026. The subscription rights are expected to be traded under ISIN
   AT0000A3XCR6 in the auction market of the Official Market of the Vienna
   Stock Exchange from October 6, 2026, up to and including October 14, 2026.
   The existing Lenzing shares are expected to trade ex-rights from October
   2, 2026.

    

   Settlement and delivery of the new shares and trading in the new shares
   under the existing ISIN AT0000644505 in the Prime Market segment of the
   Vienna Stock Exchange are expected to commence on October 23, 2026. This
   is subject to the registration of the implementation of the capital
   increase with the Austrian Commercial Register. The right to terminate the
   offering is reserved.

    

    

    

   Photo download:

   [1]https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=H5X3C3E7r1c0

    

                                              
                                              
   Your contact for
    
   Media Relations:
    
   Corporate Communications
   Lenzing Aktiengesellschaft
   Werkstraße 2, 4860 Lenzing, Austria
    
   Phone  +43 664 6112534
   E-mail  [2][email protected]
   Web     [3]www.lenzing.com
    
    
    
    
   Investor Relations:
    
   Investor Relations Team
   Lenzing Aktiengesellschaft
   Werkstraße 2, 4860 Lenzing, Austria
    
   Phone  +43 7672 701 8947
   E-mail   [4][email protected]
   Web       [5]www.lenzing.com
    

    
    

    

   About the Lenzing Group
    
   The Lenzing Group  is an internationally  operating company that  develops
   and  manufactures  wood-based  product  solutions  for  the  textile   and
   nonwovens industries.  As  one of  the  few companies  worldwide,  Lenzing
   combines the  production of  cellulose fibers  and filaments,  as well  as
   dissolving wood pulp  and biorefinery  products, under  one roof,  thereby
   covering  key  stages  of  the  production  process  in-house.   Lenzing’s
   wood-based specialty fibers and filaments are developed to meet  demanding
   and highly specialized customer requirements and applications and are used
   in a wide range of end products, including apparel, home textiles, hygiene
   products, as  well  as  medical  and  industrial  applications.  They  are
   marketed under  the  TENCEL™,  LENZING™ ECOVERO™,  VEOCEL™,  and  LENZING™
   product brands.
    
   More information on [6]www.lenzing.com
    
   Key Facts & Figures Lenzing Group 2025
   Revenue: EUR 2.60 bn
   Nominal capacity (fibers): 1,110,000 tonnes
   Employees (full-time equivalents): 7,738
    
   TENCEL™, LENZING™ ECOVERO™, VEOCEL™, LENZING™, and REFIBRA™ are trademarks
   of Lenzing AG.

    

    

   Important Notice

    

   These materials may not be distributed or published, directly or
   indirectly, in the United States (including its territories and
   possessions, any state of the United States and the District of Columbia),
   Australia, Canada, Japan or any other jurisdiction in which such
   distribution or publication would be unlawful.

    

   These materials do not constitute, and are not part of, an offer or
   solicitation to purchase or subscribe for securities in the United States,
   Australia, Canada or Japan or in any other jurisdiction in which such an
   offer or solicitation may be unlawful. The securities referred to herein
   have not been and will not be registered under the U.S. Securities Act of
   1933, as amended (the “Securities Act”). The securities may not be offered
   or sold in the United States absent registration or an exemption from the
   registration requirements of the Securities Act. There will be no public
   offering of the securities in the United States.

    

   In the United Kingdom, this document is being distributed only to, and is
   directed only at, persons who are “qualified investors” within the meaning
   of the Public Offers and Admissions to Trading Regulations 2024 (the
   “POATRs”) and who are also (i) investment professionals falling within
   Article 19(5) of the Financial Services and Markets Act 2000 (Financial
   Promotion) Order 2005, as amended (the “Order”), or (ii) persons falling
   within Article 49(2)(a) to (d) of the Order (high-net-worth companies,
   unincorporated associations, etc.), or (iii) persons to whom an invitation
   or inducement to engage in investment activity, within the meaning of
   section 21 of the Financial Services and Markets Act 2000, in connection
   with the issue or sale of securities may otherwise lawfully be
   communicated or caused to be communicated (all such persons together being
   referred to as “relevant persons”). This document is directed only at
   relevant persons and must not be acted on or relied on by persons who are
   not relevant persons. Any investment or investment activity to which this
   document relates is available only to relevant persons and will be engaged
   in only with relevant persons. This document does not constitute a public
   offer of securities in the United Kingdom within the meaning of the
   POATRs. Any offer of securities in the United Kingdom will be made solely
   in accordance with the POATRs and the applicable FCA rules.

    

   In the Member States of the European Economic Area other than Austria,
   this communication is directed only at persons who are “qualified
   investors” within the meaning of point (e) of Article 2 of Regulation (EU)
   2017/1129 of the European Parliament and of the Council of 14 June 2017 on
   the prospectus to be published when securities are offered to the public
   or admitted to trading on a regulated market (the “Prospectus
   Regulation”).

    

   This document does not constitute a prospectus for the purposes of the
   Prospectus Regulation, but an advertisement for the purposes of the
   Prospectus Regulation and, as such, does not constitute an offer to sell
   or a solicitation of an offer to purchase securities of Lenzing
   Aktiengesellschaft. Investors should not subscribe for any securities
   referred to in this document except on the basis of the information
   contained in the securities prospectus to be published, including any
   amendments thereto, if any, relating to the securities.

    

   This publication constitutes neither an offer to sell nor a solicitation
   to purchase securities in any jurisdiction. Any offer will be made solely
   by means of, and on the basis of, a securities prospectus, including any
   amendments thereto, to be approved by the Austrian Financial Market
   Authority (FMA) and published on the website of Lenzing
   Aktiengesellschaft. An investment decision regarding any publicly offered
   securities of Lenzing Aktiengesellschaft should be made solely on the
   basis of the securities prospectus, including any amendments thereto. Any
   orders relating to securities of Lenzing Aktiengesellschaft received prior
   to the commencement of a public offering will be rejected. If a public
   offering is to be made in Austria, Lenzing Aktiengesellschaft will,
   promptly following approval by the FMA, publish a securities prospectus in
   accordance with the Austrian Capital Markets Act 2019 and the Prospectus
   Regulation, which will be available free of charge on the website of
   Lenzing Aktiengesellschaft.

    

    

    

   Information in this announcement

    

   The information contained in this announcement is for information purposes
   only and does not purport to be complete. No person may rely, for any
   purpose, on the information contained in this announcement or on its
   accuracy, fairness or completeness.

    

   The information contained in this announcement is subject to change.
   Before making an investment decision in relation to any securities to
   which this announcement relates, persons viewing this announcement should
   ensure that they fully understand and accept the risks that will be set
   out in the securities prospectus, if published. No reliance may be placed,
   for any purpose, on the information contained in this announcement or on
   its accuracy or completeness.

    

   This communication does not constitute a recommendation concerning any
   potential offering. The value of shares may go down as well as up.
   Potential investors should seek advice from a professional adviser as to
   the suitability of any potential offering for the person concerned.
   Nothing in this communication constitutes, or should be construed as,
   investment, tax, financial, accounting or legal advice.

    

   Certain data contained in this communication, including financial,
   statistical and operational information, have been rounded. As a result of
   such rounding, the totals of data presented in this communication may vary
   slightly from the actual arithmetic totals of such data.

    

   Forward-looking statements

    

   Certain statements contained in this communication may constitute
   “forward-looking statements”, which involve a number of risks and
   uncertainties. Forward-looking statements are generally identifiable by
   the use of the words “may”, “will”, “should”, “plans”, “expects”,
   “assumes”, “estimates”, “believes”, “intends”, “forecasts”, “target” or
   “aim”, or the negative of these words or other variations of these words
   or comparable terminology. Forward-looking statements are based on
   assumptions, projections, estimates, forecasts, opinions or plans that, by
   their nature, are subject to significant risks, uncertainties and
   contingencies that are subject to change. The Company does not make, and
   will not make, any representation that any forward-looking statement will
   be achieved or will prove to be correct.

    

   Actual future business conditions, financial condition, results of
   operations and prospects may differ materially from those projected or
   forecast in the forward-looking statements. The Company and the Joint
   Bookrunners and their respective affiliates therefore expressly disclaim
   any obligation, and do not intend, to publicly update or revise any
   forward-looking statements or any other information contained in this
   press release, whether as a result of new information, future events or
   otherwise, except as required by law.

    

    

    

    

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   01.10.2026 CET/CEST This Corporate News was distributed by [7]EQS Group

   View original content: [8]EQS News

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     Lenzing AG
                4860 Lenzing
                Austria
   Phone:       +43 7672-701-0
   Fax:         +43 7672-96301
   E-mail:      [email protected]
   Internet:    www.lenzing.com
   ISIN:        AT0000644505
   Indices:     ATX
   Listed:      Vienna Stock Exchange (Official Market)
   LEI Code:    529900BKFJBI0QRDJH63
   EQS News ID: 2408368


    
   End of News EQS News Service


   2408368  01.10.2026 CET/CEST

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