Capex.com, the global multi-asset brokerage, has entered an agreement to merge with NAGAGroup, a social trading focused Fintech company, by way of a non-cash capital increase. Thisdeal is expected to close in Q2 2024

CAPEX.com and its Founder and CEO, Octavian Patrascu, will contribute USD 15 million inequity in total to the joint company, with Octavian personally to inject USD 9 million via aconvertible bond. Also, he will take on the role of group CEO of the merged company.

The combination is expected to forge a powerful and profitable Fintech platform, combining thestrengths of both companies. The joint group will operate 8 licenses globally, and is estimatedto generate USD 90 million in 2023, with an EBITDA of USD 6.5 million. Besides, the jointannual trading volume will come in at about USD 300 billion dollars.

"l am truly excited about this union as in today's market, consolidation can help accelerate ourroadmap, objectives and give us the dimension needed for true innovation," commentedOctavian Patrascu. "NAGA and CAPEX.com have a multitude of synergies and that is why l amconfidently investing my own money in this transaction. I believe we can reach our targets andam ready to embrace this new challenge to set a new benchmark in the industry.'

Michael Milonas, the CEO of NAGA, added, "l am particularly pleased with this development asit unlocks value under the leadership of Octavian and becomes the cornerstone of NAGA'sfuture success."