It’s All About the Money: NAGA Group Seeks $8.2 Million in Convertible Bond Issuance

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

Introduction

NAGA Group, the operator of cryptocurrency platform NAGAX, recently announced that it is looking to raise US $8.2 million through the issuance of convertible bonds. This move follows the company’s decision to issue a private placement in February 2021. In this article, we will take a closer look at NAGA Group, its cryptocurrency platform NAGAX, and the details of the company’s latest financial move.

What Is NAGA Group?

NAGA Group is a fintech company based in Germany that specializes in cryptocurrency and online trading. It was founded in 2015 and has since grown to become a leading player in the European cryptocurrency and trading market. In addition to its flagship platform NAGAX, the company also operates NAGA Wallet, a cryptocurrency wallet, and NAGA Academy, an online trading academy.

What Is NAGAX?

NAGAX is a cryptocurrency trading platform that allows users to buy, sell, and store a variety of digital assets such as Bitcoin, Ethereum, and Litecoin. It also features a built-in wallet and trading dashboard that provides users with real-time market data and analytics. NAGAX strives to make cryptocurrency trading accessible to everyone, regardless of their level of knowledge or experience.

The Convertible Bond Issuance

NAGA Group’s convertible bond issuance is an attempt to raise funds by offering investors the option to convert their bonds into company shares at a later date. The convertible bond issuance does not include the legal subscription rights of shareholders of listed companies on the Frankfurt Stock Exchange. The coupon, or interest rate, is set at 11%, and the period of the bond is six months, from April 28 to October 30, 2023.

Why Is NAGA Group Issuing Convertible Bonds?

The decision to issue convertible bonds was made by NAGA Group’s management committee, but it must be approved by the board of supervisors. The move is most likely an attempt to raise additional capital to fuel the company’s expansion plans. NAGA Group has been growing rapidly in recent years, and the company’s management team may believe that issuing convertible bonds is a prudent way to fund its growth while minimizing risk.

NAGA Pay

In addition to its cryptocurrency platform NAGAX, NAGA Group also operates NAGA Pay, an innovative banking application that allows users to manage their finances from their mobile device. NAGA Pay offers a variety of features including secure money transfers, international payments, and contactless payments.

Conclusion

NAGA Group’s decision to issue convertible bonds is a strategic move that could help the company continue its rapid growth trajectory. By offering investors the option to convert their bonds into shares at a later date, NAGA Group is able to raise funds while minimizing risk. The company’s cryptocurrency platform NAGAX and innovative banking application NAGA Pay demonstrate NAGA Group’s commitment to providing cutting-edge financial services to its customers.

FAQs

1. What is a convertible bond?
A convertible bond is a type of bond that can be converted into company shares at a later date.
2. What is NAGA Pay?
NAGA Pay is an innovative banking application that allows users to manage their finances from their mobile device.
3. Can anyone trade on NAGAX?
Yes, NAGAX is designed to be accessible to everyone regardless of their level of knowledge or experience. However, it is important to note that cryptocurrency trading is a high-risk activity and investors should always do their own research before investing.