After raising just over NOK 12 million in a private placement this spring, crypto exchange NBX will now raise NOK 17 million in a preferential issue against existing shareholders. Earlier this year, NBX has also converted 46.9 MNOK in loans into equity.
According to a stock exchange announcement, the money is to be used to fund both operations, growth and to strengthen the balance sheet by repaying existing shareholder loans.
In September, NBX published the figures for the first half of this year, showing a negative operating profit of NOK 11.8 million against a similar loss in the previous year of NOK 14.3 million. The top line is also modest, with a total turnover of NOK 9,7 million of which 2.1 million is derived from the crypto exchange and 3,1 MNOK from OTC trade while NOK 4.5 million is “other income”. According to CEO Stig Aleksander Kjos-Mathisen, NBX only earns commissions from the crypto trade in its own books.
In its half-year report, NBX states that the total turnover in the first half of the year amounted to MNOK 551, which is a threefold increase compared to the same period in 2023. Turnover in the first half of 2024 is divided by MNOK 429 over stock exchange, and MNOK 122 million as OTC trading, i.e. trading outside the stock exchange, but between buyer and seller. According to an article in InvestorNews.com, NBX also had record revenue last month.
The price in the preferential issue is set at NOK 0.27, which is 47 per cent lower than the average price over the past 10 days. There are also guarantees for the subscription of NOK 10 million in the issue, which means a total of NOK 17 million. The subscription period is from November 25 to December 9.
After raising just over NOK 12 million in a private placement this spring, crypto exchange NBX will now raise NOK 17 million in a preferential issue against existing shareholders. Earlier this year, NBX has also converted 46.9 MNOK in loans into equity.
According to a stock exchange announcement, the money is to be used to fund both operations, growth and to strengthen the balance sheet by repaying existing shareholder loans.
In September, NBX published the figures for the first half of this year, showing a negative operating profit of NOK 11.8 million against a similar loss in the previous year of NOK 14.3 million. The top line is also modest, with a total turnover of NOK 9,7 million of which 2.1 million is derived from the crypto exchange and 3,1 MNOK from OTC trade while NOK 4.5 million is “other income”. According to CEO Stig Aleksander Kjos-Mathisen, NBX only earns commissions from the crypto trade in its own books.
In its half-year report, NBX states that the total turnover in the first half of the year amounted to MNOK 551, which is a threefold increase compared to the same period in 2023. Turnover in the first half of 2024 is divided by MNOK 429 over stock exchange, and MNOK 122 million as OTC trading, i.e. trading outside the stock exchange, but between buyer and seller. According to an article in InvestorNews.com, NBX also had record revenue last month.
The price in the preferential issue is set at NOK 0.27, which is 47 per cent lower than the average price over the past 10 days. There are also guarantees for the subscription of NOK 10 million in the issue, which means a total of NOK 17 million. The subscription period is from November 25 to December 9.
