BITTNET SYSTEMS S.A. (referred to as the “Company” / “Issuer” / “Group”) informs investors and interested parties about the Decision of the Board of Directors of the Issuer regarding a primary public offering for the sale of corporate, secured, non-convertible bonds, denominated in EURO.
A maximum number of 150,000 bonds will be offered for subscription, with an individual face value of 100 euro/bond, respectively a maximum total nominal value of 15,000,000 euro. The main coordinates of the new financial instrument and the offer are:
- fixed annual interest: 10.6% payable semi-annually through the Central Depository mechanism
- maturity: 5 years from the date of issue (June/July 2031)
- minimum subscription: 10 bonds
- the guarantee will be issued and registered in the RNPM in the form of a 1st rank mortgage on a percentage of the shares of the subsidiary-company Dendrio Solutions SRL
- subscriptions will be possible through all ASF accredited brokers
Similar to the previous public bond offerings conducted by Bittnet, investors will be able to submit the orders in an extended price range between 95 euro and 106 euro per bond (between 95% and 106% of the face value of the instrument).
At the end of the Offer period (10 days) the Issuer will establish (fix) the sale price, according to the above-mentioned interval. Orders submited during the offer period at a price higher than the fixed price (or at the fixed price) will be accepted, while orders below the fixed price will be invalidated.
All accepted submited orders will be validated at the same price so that all investors will buy the bonds from the Issuer at a single price.
In the following period, the Issuer will submit the complete documentation for approval by the ASF, and the Offer will start after receiving the approval. The intermediary for this operation is BRK Financial Group.
We attach to this current report the Decision of the Board of Directors regarding the approval of the public offer.