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International Internet Magazine. Baltic States news & analytics Monday, 20.05.2024, 02:18

PRNEWS Is Getting Ready to Issue EUR 2 mln Convertible Bonds

BC, Tallinn, 14.09.2020.Print version
The managing company of PRNEWS.IO web portal headquartered in Tallinn, Estonia, and offices in Ukraine and Russia –– is to issue 2 mln euros convertible notes via a private placement, BC informed PRNEWS representative.

The funds raised from the private offering will be used to fulfill the plans related to the expansion of the global market.


The total volume of the issue is 2 mln euros, split into convertible secured senior bonds at the nominal value of 1,000 euros. The proposed coupon rate is 12% per annum. The bond's maturity is due in September 2022 after a 24 months period. Coupon payments are to be made semi-annually.


The issue is secured by the shares of the company at the valuation of 15M euros and registered at Nasdaq CSD (ISIN EE3100009135).

 

PRNEWS OÜ operates the world's first sponsored content online store, with fixed prices for publications located at www.prnews.io. It is the top online platform in Europe and Asia that brings together over 30,000 online media publishers and customers from 55 countries.


In March 2020, the company became an official partner and a sales & marketing service provider of the Estonian a government-issued digital identity and status program called e-Residency.


In December 2019, PRNEWS's Ukrainian office was included in TOP 100 IT employers according to the popular MC.Today magazine.




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