Hamburg-based NAGA Group (XETRA: N4G) has taken out a mortgage from an unnamed institutional inverter with a 12-month time period to repay its convertible bond traders partially. The corporate raised $8.2 million in convertible bonds, with an 11 p.c coupon, final April and has now negotiated the phrases.
The announcement yesterday (Tuesday) got here earlier than the maturity of the convertible bonds on October 30. With the amended time period, the corporate will partially repay $6 million on the finish of this month and the remaining about $2.7 million with curiosity on January 30, 2024.
The German firm additional highlighted that not one of the convertible bond holders exercised the conversion rights, indicating that NAGA is guaranteeing the non-dilution of its shares.
Growth Continues
NAGA is understood for providing copy buying and selling companies however has expanded extensively in different areas. It operates as a brokerage with licenses from the regulators in Cyprus and Seychelles, other than its authentic German license. The corporate additionally obtained an Estonian crypto license final 12 months and operates a crypto alternate.
The corporate additional revealed that its white-label product providing is absolutely operational. A web based brokerage from Kuwait has tapped the white-label service, which is but to be launched. The partnership signifies the corporate’s ambitions to penetrate the Center Japanese market with the brand new SaaS product, which can generate platform charges in addition to transaction-based and volume-driven earnings.
Moreover, NAGA developed a ‘communities’ function focused to super-influencers, buying and selling educators, and companions, permitting them to advertise their companies on the NAGA platform.
“With the NAGA communities function, Influencers can make the most of all our social media options, that are immediately linked with the buying and selling platform, and run their very personal group branded as their very own platform,” stated Benjamin Bilski, Founder and CIO at NAGA. “This can drive extra customized engagement and identification of the group as a complete.”
NAGA not too long ago revealed that it generated €28.4 million in income from its brokerage enterprise within the first 9 months of 2023. Its preliminary EBITDA for the interval additionally stood at €4.2 million, at a ratio of round 15 p.c.
Hamburg-based NAGA Group (XETRA: N4G) has taken out a mortgage from an unnamed institutional inverter with a 12-month time period to repay its convertible bond traders partially. The corporate raised $8.2 million in convertible bonds, with an 11 p.c coupon, final April and has now negotiated the phrases.
The announcement yesterday (Tuesday) got here earlier than the maturity of the convertible bonds on October 30. With the amended time period, the corporate will partially repay $6 million on the finish of this month and the remaining about $2.7 million with curiosity on January 30, 2024.
The German firm additional highlighted that not one of the convertible bond holders exercised the conversion rights, indicating that NAGA is guaranteeing the non-dilution of its shares.
Growth Continues
NAGA is understood for providing copy buying and selling companies however has expanded extensively in different areas. It operates as a brokerage with licenses from the regulators in Cyprus and Seychelles, other than its authentic German license. The corporate additionally obtained an Estonian crypto license final 12 months and operates a crypto alternate.
The corporate additional revealed that its white-label product providing is absolutely operational. A web based brokerage from Kuwait has tapped the white-label service, which is but to be launched. The partnership signifies the corporate’s ambitions to penetrate the Center Japanese market with the brand new SaaS product, which can generate platform charges in addition to transaction-based and volume-driven earnings.
Moreover, NAGA developed a ‘communities’ function focused to super-influencers, buying and selling educators, and companions, permitting them to advertise their companies on the NAGA platform.
“With the NAGA communities function, Influencers can make the most of all our social media options, that are immediately linked with the buying and selling platform, and run their very personal group branded as their very own platform,” stated Benjamin Bilski, Founder and CIO at NAGA. “This can drive extra customized engagement and identification of the group as a complete.”
NAGA not too long ago revealed that it generated €28.4 million in income from its brokerage enterprise within the first 9 months of 2023. Its preliminary EBITDA for the interval additionally stood at €4.2 million, at a ratio of round 15 p.c.
