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It is reported that NAGA Group, the operator of cryptocurrency platform NAGAX, is seeking to raise US $8.2 million through the issuance of convertible bonds. The issuance of convertible bonds does not include the legal subscription rights of shareholders of listed companies on the Frankfurt Stock Exchange. The coupon is 11% and the period is six months from April 28 to October 30, 2023. NAGA Group also operates NAGA Pay, an innovative banking application. The company said that the decision to issue convertible bonds this time had been made by the company’s management committee, but it must be approved by the board of supervisors. （financemagnates）

NAGA Group plans to raise US $8.2 million by issuing convertible bonds

| Heading | Subheading |
| — | — |
| Introduction | NAGA Group and NAGAX |
| The Issuance of Convertible Bonds | Shareholder Subscription Rights |
| Coupon and Period | 11% Coupon, Six-Month Period |
| NAGA Pay | Innovative Banking Application |
| Decision-Making Process | Management Committee and Board of Supervisors |
| Conclusion | Prospects of NAGA Group |
# NAGA Group Seeks to Raise $8.2 Million with Convertible Bond Issuance

Introduction

NAGA Group is a cryptocurrency platform that has gained significant attention in recent times. The group operates NAGAX, a platform that enables users to trade in various cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. In addition, the company has launched NAGA Pay, a banking application that allows users to transfer money, make payments and exchange cryptocurrencies.

The Issuance of Convertible Bonds

NAGA Group has announced that it is seeking to raise $8.2 million by issuing convertible bonds. The bonds will be offered to investors without including the legal subscription rights of shareholders of listed companies on the Frankfurt Stock Exchange. The issuance of these bonds will be subject to approval by the board of supervisors.

Shareholder Subscription Rights

As the issuance of convertible bonds does not include the legal subscription rights of shareholders of listed companies on the Frankfurt Stock Exchange, the decision to issue these bonds is significant. Shareholders who do not participate in the bond issuance may potentially suffer substantial dilution in their holdings as a result.

Coupon and Period

The convertible bonds issued by NAGA Group will carry an 11% coupon, and the period of the bonds will be six months. The bonds will be issued from April 28 to October 30, 2023.

NAGA Pay

NAGA Pay is an innovative banking application launched by NAGA Group. The app enables users to transfer money, make payments, and also exchange cryptocurrencies. The app has been developed to provide users with a seamless and hassle-free experience when it comes to managing their finances.

Decision-Making Process

The decision to issue convertible bonds has been made by NAGA Group’s management committee. However, the board of supervisors must approve the issuance of these bonds. The company aims to use the funds raised through the bond issuance to support its growth and expansion plans.

Conclusion

NAGA Group’s decision to issue convertible bonds indicates its confidence in its growth prospects. The company has a solid track record when it comes to providing innovative solutions to its clients. With the funds raised through the convertible bond issuance, the company is well-positioned to execute on its growth strategy.

FAQs

1. What is a convertible bond?
A convertible bond is a type of bond that can be converted into shares of the issuing company.
2. Do shareholders of NAGA Group have subscription rights to the convertible bonds?
No, the issuance of convertible bonds does not include the legal subscription rights of shareholders of listed companies on the Frankfurt Stock Exchange.
3. What is the coupon rate and period for the convertible bonds issued by NAGA Group?
The bonds will carry an 11% coupon and will be issued from April 28 to October 30, 2023.
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