Nasdaq Welcomes Modera to Baltic First North Bond Market

16.09.2024 RIG, TLN, VLN

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, September 16, 2024 – Nasdaq (NDAQ) announces that bonds issued by Modera have been admitted to trading on the Nasdaq Baltic First North market by Nasdaq Tallinn as of today, September 16.

The size of Modera’s issue of unsecured bonds is EUR 1.5 million. Each bond has a nominal value of EUR 500. They have a fixed annual coupon rate of 11% with quarterly payments. The bonds mature on September 13, 2027.

The listing of the Modera bonds follows their public bond offering to Estonian investors. Based on demand for the bonds of EUR 2.16 million, the base amount of the offering – up to 2,400 bonds – was 1.8 times oversubscribed. More than 700 investors subscribed to the bonds.

“Modera’s shares have been listed on the Nasdaq Baltic First North market already since 2021. It’s a great pleasure to see Modera becoming listed also on the First North bond market. It’s a perfect example of a company utilizing the opportunities provided by the First North market which is exactly meant for smaller yet very ambitious companies to raise growth capital,” said Kaarel Ots, CEO of Nasdaq Tallinn.

“We exceeded the offering target despite the fact that there were several significant offerings ongoing on the local bond market at the same time. We are very satisfied with the results, because the almost two-fold oversubscription on the competitive bond market is a message of investors’ trust,” said Raido Toonekurg, CEO of Modera. “We will use the funds raised from the bond issue mainly to expand into the Finnish and Norwegian markets and introduce local integrations in these markets,” Toonekurg added.

The law firm Ellex Raidla advised the company in the public offering and listing process and serves as the certified adviser for Modera on the First North market.

Modera is a company founded and operating in Estonia, whose main field of activity is the development and sale of innovative and integrated customer management software for car sales. Read more: http://www.modera.com

Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.

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Media Contacts:
Ott Raidla
Nasdaq Tallinn / Nasdaq Baltic Market
Marketing and Communications Manager
ott.raidla@nasdaq.com
+372 5552 4824