BNET28A: IPO of corporate bonds at variable price

During the Offer period, 02.04.2024 – 15.04.2024, you can buy new Bittnet bonds, directly from the Issuer. You set the subscription price yourself, in the range of 94 – 106 ron/bond.

Important is that you can change the price whenever you want, within the Offer period and within the subscription interval. The price of the valid order from the end of the Offer period – from the last day of subscriptions – will be taken as last price of the order. On the last day of the offer (April 15 at 12:00) but after the close of the subscription period, the Issuer will set the issue price according to the buy orders placed until then, their size and the investors’ interest.

Cristian Logofatu, Bittnet Group Co-Founder, about BNET28A
(Video is in Romanian)

Buy orders placed at a higher price or fixed (issue) price will be accepted, buy orders placed at a price lower than the issue price will be invalidated, so all investors with accepted orders will be allocated BNET28A bonds at the same price (issue price). We have made the process as easy as possible so that you can subscribe in any way agreed with your broker: either by phone, online, or by completing and submitting the subscription form. It is very important that subscriptions are made through all brokers/intermediaries authorized by ASF. In practice, you can subscribe through any of the brokers where you have already opened a trading account. In case you encounter any kind of problems when placing the order or your broker doesn’t want to take it, you can contact us:

• either by filling out the attached contact form, or
• write us directly at investors@bittnet.ro , or
• by telephone: 0740.273.611. Our colleague Lucian Bratu will answer your questions related to the BNET28A Bonds Offer

There are numerous other risks, described in detail in the Offer documentation, but also in the periodic and annual reports, as well as in the Universal Registration Document. Before investing in any financial instrument, we encourage you to carefully read all the documentation attached to the Offer!

The approval visa applied to the offer documents has no guarantee value, nor does it represent another form of assessment by the Financial Supervisory Authority (ASF) regarding the opportunity, advantages or disadvantages, profit or risks that the transactions could present with the securities of the Issuer. The approval decision only certifies the regularity of the document with regard to the requirements of the law and the rules adopted in its application.

Between April 2 and April 15, 2024, Bittnet Group is running an initial public offer for sale of corporate bonds, unsecured, dematerialized and denominated in RON, with a nominal value of 100 RON/bond and a total nominal value of 15,000,000 ron. The funds raised will be redirected to finance current activity, in particular the significant contracts Bittnet Group companies currently have in progress and which have been announced on capital market news feeds. The interest on the BNET28A bonds is fixed, 9% per year, with quarterly payment frequency through the Central Depository, and the maturity of the issue is at 4 years, i.e. in April 2028. The nominal value at which the interest is calculated is 100 ron, as well as the amount per bond issued that Bittnet will repay at maturity.

Buy orders in the Offer can be made in the range price 94 – 106 ron, including the limits of the range. At the end of the Offer period, the Issuer will set the issue price, and orders placed at this price or a higher price will be accepted. Orders placed below the issue price will be rejected. All investors will purchase the bonds from the Issuer at the same price. All investors will be able to buy BNET28A bonds, during the Offer period, regardless of the intermediary where they have the trading account. Subscriptions can be made through all brokers, depending on the method agreed between the brokers and their clients: by phone, mail, directly in the trading platform, or by filling out a subscription form. The funds obtained will be used to ensure the general financing needs of the Bittnet group’s current activity, with a focus on significant contracts, some of them with a pre-financing component.