Spinnova Plc Filed Primary

What the company does

Spinnova Oyj is a Finnish company that has developed the SPINNOVA® textile platform, an intellectual-property-protected mechanical process for producing a natural-like manmade textile fibre with low impacts on climate and nature. The process uses minimal water (99% less compared to cotton), no harmful chemicals, and can utilize multiple renewable and recycled feedstocks, including wood pulp and textile, agriculture and leather waste. The company is advancing commercialization by validating the technology and product in larger, repeatable production runs at its demonstration factory together with global industrial partners, with large commercial scale operations intended to be achieved through full technology licensing, supported by selected joint venture ownership on a case-by-case basis.

Use of proceeds

We intend to use the net proceeds from this offering to support the ramp-up of our Eteläportti demonstration facility, advance commercialization of our technology, and for working capital and general corporate purposes. The amounts and timing of our actual expenditures depend on numerous factors, including any unforeseen cash needs, and our management will have broad discretion in applying the net proceeds of this offering.

Underwriters

Extracted from F-1 0001185185-26-003732, filed Aug 27, 2026 and verified against that filing text.

Key risk factors

• Limited operating history at current scale

  “We have a limited operating history at the current scale of our business, which makes it difficult to evaluate our current business and future prospects, and we may not be able to scale our business for future growth”

• Continuing net losses

  “We have incurred net losses since our inception and anticipate that we will continue to incur substantial operating losses for the foreseeable future”

• Dependence on market acceptance of new technology

  “Our technology platform is based on a new technology and our commercial success is ultimately dependent on broader market acceptance”

• Global competition in sustainable textiles

  “The sustainable textile industry that our technology targets is subject to global competition, which may hamper our future earnings capacity”

• Contract-based operations risk

  “Our operations are primarily based on contracts for technology sales, which expose us to risks relating to project completion and may result in cost overruns”

• IP and trade secret protection risk

  “If we are unable to guard our IP rights and trade secrets, our competitive advantage could be eroded”

• Uncertain ADS market and volatility

  “We do not know whether a market will develop for the ADSs or what the market price of the ADSs will be and, as a result, it may be difficult for you to sell your ADSs”

• Dual listing risks and shareholder dilution

  “The dual listing of our shares and the ADSs following this offering may adversely affect the liquidity and value of the ADSs”