NX Filtration announces intention to launch its initial public offering and listing on Euronext Amsterdam

Green IPO of breakthrough nanofiltration technology addressing global water challenges
Enschede, the Netherlands, 1 June 2021 – NX Filtration N.V. (currently NX Filtration Holding B.V.) (“NX Filtration” or the “Company”), the global provider of breakthrough direct nanofiltration technology for pure and affordable water, today announces its intention to proceed with the listing of all of its ordinary shares (the “Shares”) on Euronext Amsterdam (the “Admission”) and an initial public offering (the “Offering” and together with the Admission, the “IPO”) of newly issued Shares (“Issue Shares’’, and together with any over-allotment Shares, the “Offer Shares”), aiming to raise between €150 million and €165 million in order to execute its growth plans. The Offering is expected to take place in June 2021, subject to market conditions and other considerations.

Founder & CTO, Prof. dr. Erik Roesink: “NX Filtration has developed a proven breakthrough direct nanofiltration membrane technology to address global issues around water scarcity and water quality. With our technology we enable the production of clean drinking water from polluted rivers, prevent the discharge of all kinds of micropollutants (such as pharmaceuticals, PFAS and nanoplastics) in the environment and reduce the water footprint of industrial customers. And all of this we are doing in a very sustainable way, significantly reducing energy consumption and avoiding the use of pre-treatment chemicals.”

CEO & COO Michiel Staatsen: “I am very proud to announce the intended listing of NX Filtration. This is a great milestone as we aim to accelerate our growth strategy by investing in our commercial roll-out, a new manufacturing facility, fast-track innovation and M&A. It also secures our independence, which is important in our relationship with our current and prospective customers. We believe the IPO will further boost our business and support us in attracting talent for our anticipated steep growth journey. With our scalable and strong protected technology, we believe that we are able to make a global impact on the ever growing water challenges across the world. With our dedicated team of membrane experts, we are excited to start this next growth chapter of our company.”

Highlights of the Offering
o The expected Offering will consist of Issue Shares with targeted gross proceeds of between €150 million and €165 million, which are intended to be used to advance the Company’s commercial roll-out, capacity expansion, innovation and M&A;
o The Issue Shares will represent 30% of the total issued Shares immediately after settlement of the Offering;
o An over-allotment option will be included in the Offering, consisting of existing Shares held by Infestos;
o An application is expected to be made for Admission to listing and trading on Euronext Amsterdam;
o The Offering is expected to comprise a public offering to institutional and retail investors in the Netherlands and a private placement to certain qualified institutional investors in various other jurisdictions;
o M&G Investments and Teslin Capital Management B.V. (acting in its capacity of fund manager of Teslin Participaties Coöperatief U.A.) have each committed to act as a cornerstone investor in the IPO, subject to customary conditions, for an aggregate amount of €56 million at the final Offering price on the settlement date as part of the Offering, consisting of a commitment of €28 million from M&G Investments and €28 million from Teslin Capital Management B.V.;
o In addition, Infestos has irrevocably committed to a €10 million cornerstone investment;
o The Company has appointed Berenberg and ABN AMRO as Joint Global Coordinators for the Offering.

Rationale for the IPO
NX Filtration believes that the IPO represents a significant step in the development of the Company, given its need for capital to take advantage of its growth potential. NX Filtration also believes that the IPO will increase the Company’s brand recognition, accentuate its independent market position, support in attracting talent and further contribute to the professionalisation of the organisation.