PRESS RELEASE

from The Naga Group AG (isin : DE000A161NR7)

The NAGA Group AG: NAGA repays majority of convertible bonds; launches first SaaS White-label for Kuwaiti brokerage and starts “NAGA Communities” feature

EQS-News: The NAGA Group AG / Key word(s): Bond/Product Launch
The NAGA Group AG: NAGA repays majority of convertible bonds; launches first SaaS White-label for Kuwaiti brokerage and starts “NAGA Communities” feature

24.10.2023 / 20:57 CET/CEST
The issuer is solely responsible for the content of this announcement.


NAGA repays majority of convertible bonds; launches first SaaS White-label for Kuwaiti brokerage and starts “NAGA Communities” feature

  • Alongside positive EBITDA developments in the past quarters, NAGA has repaid majority of outstanding convertible bonds
  • NAGA proceeds with adding SaaS product to global business, launching first white label partner
  • New communities feature will allow super-influencers to run their branded version of NAGA

Hamburg, October 24th, 2023 - The NAGA GROUP (XETRA: N4G, ISIN: DE000A161NR7), provider of the All-in-One Financial Super App, NAGA, informs about changes for its outstanding convertible bonds and shares exciting product updates accelerating global expansion.

Global expansion fueled by new SaaS partnership. NAGA Communities feature going live in Mexico

Following its reported positive footprint in emerging markets, NAGA is pleased to announce its White-Label product offering is fully operational and will imminently launch its first ever White-label partnership. A regulated online-brokerage from Kuwait will launch its own branded version using NAGA’s innovative frontend and backend technology to expand social trading in the Middle East. A further, new revenue stream will thereby be added with the SaaS vertical generating platform fees as well as transaction based and volume-driven income.

Additionally, NAGA developed a unique “Communities” feature allowing certain super-influencers, trading educators and partners to run and promote their very own social trading community with a fully custom and branded version of the NAGA Platform.

“In the course of our R&D and engineering efforts, we have identified a problem for our existing super influencers and partners who manage their communities using ordinary Social Media apps such as Instagram, Facebook or Telegram where communication and trading activity is disconnected. With the NAGA communities feature, Influencers can utilize all our social media features which are instantly connected with the trading platform and run their very own community branded as their own platform. This will drive more personalized engagement and identification of the community as a whole”, comments Founder & CIO Benjamin Bilski on the latest product innovation.

The communities platform went live in Mexico on October 20th, whilst the SaaS partnership is expected to yield first results in this quarter.

NAGA avoids dilution for existing shareholders

NAGA repaid the majority of the convertible bonds and renegotiated terms for its outstanding convertible bonds issued in April 2023.

The holder of the remaining convertible bonds is not exercising the conversion right, so that no equity dilution for existing shareholders will occur.

 

About NAGA

NAGA is an innovative fintech company that seamlessly connects personal finance transactions and investments through its social proprietary trading platform. The company's platform offers a range of products from stock trading, investments and cryptocurrencies to a physical VISA card. Additionally, the platform allows for exchanges with other traders, provides relevant information in the feed, and autocopy features for successful members' trades. NAGA is a synergistic total solution that is easily accessible and inclusive. It provides an improved foundation to trade, invest, network, earn and pay. This applies to both fiat and crypto products.

 

 



24.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:English
Company:The NAGA Group AG
Hohe Bleichen 12
20354 Hamburg
Germany
E-mail:info@naga.com
Internet:www.naga.com
ISIN:DE000A161NR7
WKN:A161NR
Indices:Scale 30
Listed:Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:1756483

 
End of NewsEQS News Service

1756483  24.10.2023 CET/CEST

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