Nustay secures debt financing of DKK 10 million to secure further development
Today, Nustay A/S (“Nustay”) announces that the company has secured a debt financing. The debt financing from 3 private and public financiers amounts to a total of DKK 10 million and the Company will be provided with the capital during the beginning of September 2019.
The purpose of the debt financing is to fund Nustay’s operation, marketing activities, platform development and organizational development in the short term. The debt financing is intended to be re-paid in a future planned capitalization. The debt financing will run until it is repaid, but no longer than March 31, 2020. The loan runs at a monthly interest rate of two (2) percent.
As previously communicated, through a press release on August 13, 2019, Nustay has initiated a process of raising additional capital as mandated by the extraordinary general assembly on September 3, 2019 as described in the press release of September 3, 2019.
For further information about Nustay, please contact:
Mathias Lundoe Nielsen, CEO & Founder, Nustay A/S
Telephone: +45 22 91 94 99
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 September 6, 2019.
Nustay is a Danish company within the online hotel booking industry. Nustay has a vision of becoming the best and most disruptively innovative hotel booking platform in the world with Nustays innovative and advanced hotel booking platform which has proven its ability to handle customers and hotels all over the world. Nustay is an Online Travel Agency (OTA) that aims at delivering personalized hotel deals for each registered user depending on the preferences of the user and the type of stay. Nustay differs itself from its competitors by combining both business-to-business (B2B) and business-to-consumer (B2C) hotel prices resulting in a large hotel inventory, a great booking experience and competitive