The programs proposed include non-convertible bonds with a nominal value of RON100 and EUR100 per bond, respectively, with 3 and 5-year maturity and with fixed or variable interest rates of up to 12% per year. The bonds will be “offered to investors through private placement or public offering. The bond issue will be carried out depending on market conditions and the company’s financing needs, within a single bond issue or through multiple issues, within a public offering program,” the report reads.
Brothers Cristian and Mihai Logofatu, the founders of Bittnet Systems, directly own 17.67% of the company’s subscribed and paid-up share capital. The shareholding structure also includes Agista Investments, with a 13.75% stake, and Impetum, with 13.3%.
Bittnet’s losses widened to RON17 million in the first half of 2025, from a negative net result of RON4.5 million in the same period of 2024. Consolidated revenue totaled RON103.9 million in January-June 2025, down 38% on the year.
BNET shares have traded 39% lower over the last 12 months, triggering a market capitalization of RON76 million.