Nustay A/S announces the outcome of the rights issue

On March 24th, 2020, the subscription period in Nustay A/S (below referred to as “Nustay”) fully secured, through pre-subscription commitments and underwriting commitments, rights issue of shares and warrants (below referred to as “units”) ended. The rights issue was subscribed to a total of approximately DKK 27.3 million (incl. underwriting commitments), corresponding to a subscription rate of approximately 100 percent. Through the rights issue, a total of 30,367,775 shares and 18,220,665 warrants will be issued and Nustay will be provided approximately DKK 27.3 million before issue costs and conversion of debt. Settlement notes are expected to be sent out today, March 27th, 2020.

CEO Mathias Lundoe Nielsen comments:

“Firstly, I want to thank all the subscribers of the issue. With the capital raised, Nustay has been given the necessary resources to ensure we can continue driving the business towards our ambitious goals. Prior to the unfortunate COVID-19 situation, we had set ourselves on a solid trajectory and gathered great momentum across all measures, from sales to our profitability targets. This gives us every reason to remain absolutely confident in there being a great demand within the travel market for the easy-to-use, personalised and cost-efficient travel services that Nustay offers. For this reason, it is necessary to emphasize Nustay's potential, which will continue to be realised as the COVID-19 crisis comes to its end. I am convinced that once the market stabilises and demand beings to increase once more, we will be able to quickly regain our momentum and continue to drive the business towards profitable and sustainable growth.”

Subscription and allotment in the rights issue

The rights issue was subscribed to DKK 27.3 million, including pre-subscription commitments and including underwriting commitments, corresponding to a subscription rate of approximately 100 percent. 30,367,775 new shares and 18,220,665 warrants will be issued and Nustay is thus provided approximately DKK 27.3 million before issue costs and conversion of debt. Estimated issue costs attributable to the rights issue (including costs attributable to compensation for underwriting commitments) amount to approximately DKK 3.6 million, of which approximately DKK 1.4 million refers to compensation for underwriting commitments. In total, the issue costs thereby amount to approximately 13.2 percent of the initial issue volume in the rights issue. 3,192,806 units, corresponding to approximately 52.6 percent of the subscribed issue volume, were subscribed for by shareholders with the support of pre-emptive right. Approximately 7.2 percent of the issue volume, corresponding to approximately DKK 2.0 million, were subscribed for without support of pre-emptive right. Approximately 40.2 percent of the issue volume, corresponding to approximately DKK 11.0 million, will be subscribed for by underwriting commitments. Allotment of units has been decided upon by the Board of Directors in accordance with the principles stated in the prospectus. Settlement notes are expected to be sent out March 27th, 2020.

Number of shares and share capital

When the rights issue has been registered, the number of shares in Nustay will amount to 48,588,440 shares and the share capital will amount to DKK 1,943,537.60.

Updated time plan

Allocation and trading in units: Allocation and trading in units is expected to take place on Spotlight Stock Market from March 27th, 2020 and continue until March 30th, 2020. Each paid unit will be converted automatically into five (5) new shares and three (3) warrants which will be admitted for trading on Spotlight Stock Market.
Last day of payment: Expected to April 1st, 2020.
Settlement day for final trades in units: Settlement day at VP Securities for final trades in units is expected to April 1st, 2020.
Settlement day for conversion to ordinary shares and warrants: The new shares and warrants are expected to be registered with the Danish Business Authority on April 6th, 2020. Settlement day at VP Securities for conversion to ordinary shares and allocation of warrants is expected to take place during April 6th, 2020 and April 7th, 2020.
Allotment of interim shares nr. 2 and warrants based on units: Expected to April 3rd, 2020.
Settlement day at VP Securities for converting interim shares number 2 to ordinary shares: Expected to April 6th, 2020.
Trading in new shares and warrants: Trading in the new shares and warrants is expected to commence on April 7th, 2020.

Disclosure notice

Due to the rights issue, a requirement for disclosure notice occurs regarding the following parties:

Name Holdings before rights issue (%) Holdings after rights issue (%)
La Dolce Vita Holding ApS1 13,8 5,9
Niklas Danaliv (private and through Polynom Investment AB) - 7,1
Jens Olsson - 5,3
Formue Nord Markedsneutral A/S - 5,2

1 Owned by CEO, board member and founder Mathias Lundoe Nielsen

Financial advisor and issuing agent

Sedermera Fondkommission acts as financial advisor and issuing agent to Nustay in connection with the rights issue of units. VP Securities also acts as issuing agent to Nustay in connection to the rights issue of units.

For more information on the rights issue

Sedermera Fondkommission

Phone: +46 40 - 615 14 10

E-mail: info@sedermera.se

www.sedermera.se

For further information about Nustay                    

Nustay A/S

E-mail: investor@nustay.com

Website: www.nustay.com

This information is information that Nustay A/S is obliged to publish following the EU Market Abuse Regulation. The information was provided by the contact person above for publication on March 27th, 2020.

About Nustay

Nustay is a Danish online hotel booking company established in 2014. The company has developed an innovative booking platform offering the lowest possible hotel prices while also enhancing the customer’s booking experience. Nustay has set out an ambitious vision to become the global leader within the online hotel booking industry and is confident its large hotel room inventory, novel pricing strategy, and transparent booking process, will achieve that goal.

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