Nasdaq Welcomes Modera to Baltic First North Bond Market

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. 

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 X @Nasdaq, or at nasdaq.com 


Media Contacts:
Ott Raidla
Nasdaq Tallinn / Nasdaq Baltic Market
Marketing and Communications Manager
[e-mail]
[phone]