The exercise period for warrants in Nustay A/S begins today
Today, August 27th, 2020, marks the beginning of the exercise period for the warrants that were issued in connection with Nustay A/S (“Nustay” or “the Company”) issue of units during March 2020. The exercise period runs until and including September 10th, 2020. Upon full exercise of all warrants, Nustay will be allocated approximately DKK 22.8 million (before costs).
Nustay issued units in connection to its rights issue during March 2020. Each unit consisted of five shares and three warrants. During the exercise period, which starts today, each warrant holder has the possibility, for each warrant, to subscribe for one regular new share in Nustay for DKK 1.25 per share. The exercise period ends on September 10th, 2020. The warrants are traded on Spotlight Stock Market until September 8th, 2020. The warrant holders are able to exercise their warrants until September 10th, 2020 or sell them at the latest on September 8th, 2020, by instructing their bank. It is important to follow the instructions from the bank and allow some time for handling the instruction and payment to be sure to act before the exercise period expires. The warrants cease after the exercise period and thereafter become worthless. Upon full exercise of all warrants, Nustay will be allocated approximately DKK 22.8 million (before issue costs).
CEO Mathias Lundoe Nielsen comments:
“The global travel trend is seeing a steady recovery, with market research showing an uptick in hotel searches and booking across all major markets over the last two months. Since the start of the turbulent time for the travel industry as a whole began in March 2020, we have used the recent market situation to optimize and strengthen the business to quickly enable it to take advantage of market conditions and gain market share. Nustay’s redemption of warrants can provide the company with approximately DKK 22.8 million, which enables the business to reestablish a continued high operating pace, at the same time as it will give us the possibility to finance further expansion strategies in order to increase sales levels.”
The terms for the warrants in brief
| Exercise period: | August 27th – September 10th, 2020. |
| Exercise price: | The holding of one (1) warrant entitles to the subscription of one (1) new share in Nustay at an exercise price of DKK 1.25 per share. |
| Issue volume: | There are 18,220,665 outstanding warrants in Nustay. If all warrants are exercised, Nustay will receive a capital injection totalling approximately DKK 22.8 million before issue costs. |
| Last day of trading in the warrants: | September 8th, 2020. |
| Current number of shares in Nustay: | 48,588,440. |
| Valuation (pre-money) in current offer: | Approximately DKK 60.7 million. |
Important dates in connection to the exercise period for warrants of series TO 1
- The exercise period begins: August 27th, 2020.
- The last day for trading in warrants: September 8th, 2020.
- The exercise period ends: September 10th, 2020.
- Planned communication of outcome: September 15th, 2020.
- Planned conversion of interim shares to shares: September 17th, 2020.
For more information regarding the warrants, please contact:
Sedermera Fondkommission
Telephone: +46 40 - 615 14 10
E-mail: info@sedermera.se
Website: www.sedermera.se
For further information about Nustay, please contact:
Investor Relations, Nustay A/S
E-mail: investor@nustay.com
Website: www.nustay.com
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 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.
