NX Filtration launches €20M share sale to chase EBITDA break-even
What's the deal? Dutch water-tech firm NX FiltrationDealroom has a profile for this one. Try Dealroom → on October 29, 2026 launched an equity offering of up to about €20 million (≈$22 million) in new ordinary shares. The majority of the order book is already pre-committed by existing substantial shareholders.
What's the endgame? NX Filtration sells direct nanofiltration membrane technology that removes micropollutants — including pharmaceuticals, PFAS, and nanoplastics — from water in one step. Proceeds will fund its path to EBITDA break-even, scale existing growth engines, and develop new membrane configurations for adjacent markets.
Why now? The company is growing but still loss-making. Revenue rose 28% in 2025 and 19% year on year in H1 2026, yet normalized EBITDA was negative €6.7 million in H1 2026, with cash falling to €18.4 million from €28.5 million at end-2025.
The raise follows a larger March 2024 financing, when NX Filtration secured about €25.5 million in new equity plus at least €20 million of property-backed debt. Its medium-term targets remain unchanged: average annual revenue growth of 50%, strong gross margins, and EBITDA break-even operations.
How it works: The offering runs via an accelerated bookbuild to qualified investors in the European Economic Area, with pre-emption rights excluded. ABN AMRODealroom has a profile for this one. Try Dealroom →, in cooperation with ODDO BHF, is acting as sole global coordinator and sole bookrunner.
The final share count and offer price will be set after bookbuilding closes, with results expected before market open on October 30. Delivery and listing on Euronext Amsterdam are due on November 3. Both the company and management board agreed to a 180-day lock-up.
The signal: At €20 million, this is a modest top-up rather than a transformational raise, underscoring the gap between strong demand and profitability. For NX Filtration, it buys runway to reach break-even while order intake and the order book strengthen.
Read more: hk.marketscreener.com
Image credit: Generated with Gemini
