Spinnova Plc

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 climate and environmental impacts. The process uses minimal water, no harmful chemicals, and can utilize renewable and recycled feedstocks including wood pulp and textile, agricultural, and leather waste. The company is advancing commercialization by validating its technology at its Eteläportti demonstration factory, with large commercial scale intended to be achieved through technology licensing as the primary model, supplemented by joint ventures.

Use of proceeds

The company intends to use the net proceeds from the offering to support the ramp-up of its Eteläportti demonstration facility, advance commercialization of its technology, and for working capital and general corporate purposes. Management will have broad discretion in applying the net proceeds.

Underwriters

Extracted from F-1/A 0001185185-26-004224, filed Sep 23, 2026 and verified against that filing text.

Key risk factors

• Limited operating history and scaling risk

  “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;”

• Risk of never achieving profitability

  “We may never achieve or sustain profitability;”

• 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 technology sales and project execution 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;”

• No prior public market for ADSs

  “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;”

• Immediate dilution to investors

  “You will incur immediate and substantial dilution as a result of this offering;”