Nasdaq Welcomes Hagen Bikes to Baltic First North Market

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, December 29, 2021 - Nasdaq (NDAQ)
announces that the shares of Hagen Bikes, an Estonian cargobike manufacturer,
have been admitted to trading on Nasdaq Baltic First North Market by Nasdaq
Tallinn as of today, December 29. 

The admittance to trading of Hagen Bikes shares follows the initial public
offering of the company in which they aimed to raise EUR 510 600. The total
demand for the shares was EUR 7.45 million, i.e. the offering was 14.9 times
oversubscribed. 6530 investors participated in the offering. 

"2021 has been an incredible year for the Baltic First North market. And what
could be a better way to end it than to welcome an ambitious bike manufacturer
Hagen Bikes to our market," said Kaarel Ots, CEO of Nasdaq Tallinn. "Hagen is
yet a small company, but their dedication and passion for building cargobikes
and nudging people towards a more sustainable and healthy means of
transportation has paved their way to becoming a public company with more than
6000 shareholders." 

"We chose First North market because it's the best match for financing our
long-term plans," said Kaspar Peek, founder and CEO of Hagen Bikes. "In
addition, we hope that more people will benefit from our success when we are
publicly listed compared to being financed only by institutional investors.
Especially considering that almost 0.5% of the Estonian population are now our
investors - an incredible number for a company in such an early stage as
Hagen!" 

Law firm Ellex Raidlaserves as the certified adviser for Hagen Bikes on First
North market. 

Hagen Bikes' roots go back to 2014, when Estonian bicycle visionary Kaspar Peek
founded his first company in Denmark focusing on the production of bicycles. In
2017, Kaspar moved to Estonia and founded Hagen Bikes OÜ which develops and
manufactures innovative and high-tech cargo bicycles. 

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. 

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital
markets and other industries. Our diverse offering of data, analytics, software
and services enables clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at nasdaq.com. 

Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq
Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:
nasdaqbaltic.com. 

Cautionary Note Regarding Forward-Looking Statements

The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
Nasdaq and its products and offerings. We caution that these statements are not
guarantees of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements. Forward-looking
statements involve a number of risks, uncertainties or other factors beyond
Nasdaq's control. These factors include, but are not limited to factors
detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed
with the U.S. Securities and Exchange Commission. We undertake no obligation to
release any revisions to any forward-looking statements. 

Media Relations Contact:

Ott Raidla
+ 372 5552 4824
[e-mail]