The purpose of the bridge financing is to fund Nustay’s operations, platform development and marketing activities in the short term. The bridge financing is intended to be re-paid in a future planned capitalization. The bridge financing will run until it is repaid or converted into shares, but no longer than March 31, 2020. The loan runs at a monthly interest rate of three (3) percent. The parties in this bridge financing are the Company’s main shareholders and previous lenders.

As previously communicated, through a press release on October 11, 2019, Nustay has initiated a process of raising additional capital and these plans continue to apply. The planned capitalization comprises of approximately DKK 35 million. The board and management of Nustay are currently evaluating different strategic opportunities to conduct this capitalization and are planning to present the details in the near future.

For further information about Nustay, please contact:

Mathias Lundoe Nielsen, Founder & CEO, Nustay A/S

Telephone: +45 22 91 94 99

E-mail: mln@nustay.com

Website: www.nustay.com 

This information is information that Nustay A/S is obliged to publish following the EU Market Abuse Regulation. The information was provided by the contact person above for publication on November 21th, 2019. 

About Nustay

Nustay is a Danish online hotel booking company established in 2014. The company has developed an innovative booking platform offering the lowest possible hotel prices while also enhancing customer’s booking experience. Nustay has set out an ambitious vision to become the global leader within the online hotel booking industry, and is confident its large hotel room inventory, novel pricing strategy, and transparent booking process, will achieve that goal.