sur The Naga Group AG (isin : DE000A161NR7)
The NAGA Group AG Issues USD 8 Million Convertible Bond
The NAGA Group AG plans to issue a USD 8 million convertible bond, with no statutory subscription rights for shareholders. Announced on October 9, 2026, the bond targets institutional investors, including Presto Asset Pte. Ltd. It will be issued on October 15, 2026, without stock exchange trading.
Carrying a 8% annual interest, the bond matures in 36 months. Conversion can occur anytime during the bond's term at USD 4.2615, reflecting a 57% premium over the closing share price on October 8, 2026. If the company's revenues and operating cash flow fall short of expectations, holders can opt for a reduced conversion price of USD 1.50. Additionally, a change in control grants bondholders extra conversion rights.
If fully converted, the company's share capital could increase by up to 22.9%. CEO Constantin-Octavian Patrașcu may transfer shares to investors if the bond converts at a reduced price.
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