- Entry of leading consortium of blockchain companies and investors
- Convertible bond with a volume of up to EUR 20 million
- Financing unlocks additional growth potential
Frankfurt on the Main – November 15, 2019 – Northern Bitcoin AG (XETRA: NB2, ISIN: DE000A0SMU87) resolved to issue a convertible bond for the entry of an international consortium of leading blockchain companies and investors. The Company has received confirmation for EUR 10 million, the total volume of the convertible bond, including the free-float share, is up to EUR 20 million. The convertible bond has a term of five years and an interest rate of 5 percent per year, the conversion price is EUR 8.00 per share. The Company is entitled to pay a cash sum of EUR 21.00 instead of delivering the shares. The Company therefore has the option to execute the financing without dilution of the existing shareholders.
Mathis Schultz, CEO of Northern Bitcoin, commented: “This financing is a strong validation of our Company and our strategy to provide Bitcoin with a sustainable and extremely fast scalable infrastructure. The investment is a step closer to our objective of building the world’s largest sustainable company for the Bitcoin infrastructure. Together with major industry partners, we have created both the technological and logistical basis to massively scale our business. This now resolved financing allows us to take a giant leap forward.”
Northern Bitcoin AG, based in Frankfurt, started in 2018 as a sustainable Bitcoin Miner and is recording a rapid growth thanks to the strong global distribution of Bitcoin and its blockchain. The Company among other things operates a mining site based on renewable energy sources in Norway and benefits from the rapid adaptation of Bitcoin as “digital gold” and new means of payment. With the offer of its own wallet, the Company becomes the operator of a 360-degree Bitcoin ecosystem.
This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities of Northern Data AG and does not constitute a prospectus of Northern Data AG. The information contained in this press release is not intended to form the basis of any financial, legal, tax or other business decision. Investment or other decisions should not be made solely on the basis of this press release. As with all business and investment matters, please consult qualified professional advice. This release and the information contained herein are not for distribution, directly or indirectly, in or into the United States of America, Canada, Australia or Japan.
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