BUX

Idea

Introduction

BUX is a tech company that makes it easy and affordable for Europeans to do more with their money. Launched in 2014, and with more than 2.3 million users across Europe, BUX is making the markets more accessible through its apps that offer commission-free investing and speculative trading.

BUX Zero, launched in 2019, allows a new generation of investors to engage in the market through an intuitive app where they can invest commission-free in the brands that are aligned to their personal interests and values. Alternatively, BUX X simplifies the trading experience for those who want to trade stocks, cryptos, forex and other products on the short-term using leverage, all while engaging with a community of fellow traders.

BUX ultimately aims to be the go-to destination for those who want to take ownership of their financial future: for every investment need, BUX aims to offer a solution by disrupting the current world of investing and trading.

As this is a pre-emption campaign, limited information is being provided. More information can be found by downloading the pitch deck under the Documents tab. Please note that the information hasn't been approved by Seedrs.

Preemption details and convertible loan terms

This investment round is being raised by way of a convertible equity investment structure.

The key terms that apply to this convertible structure are set out below. See also attached the convertible instrument entered into between the Company and the lead investor in this round, which sets out further details on the structure.

This convertible differs in a few key ways from Seedrs standard convertible instrument, so please read carefully.

Interest rate

- 8% per annum (to be converted or repaid with principal amount)

Conversion

- The investment plus interest will convert, at the option of investors holding the majority of the convertible instruments in this round (which must include the lead investor, Velocity Capital Fintech Ventures Cooperatief U.A, the “Investor Majority”), on the earlier of an equity fundraise or the longstop date of 31 December 2020.

- The conversion price on an equity fundraise will be a 30% discount to the lowest price per share issued in the equity fundraise. However, if the Company raises investment capital of at least €15,000,000 on the basis of a fully diluted pre-money valuation of at least €74,311,174 (a “Qualifying Equity Fundraise”), the share price for conversion will be at least €14.81.

- The conversion price on the longstop date will be the valuation of the shares at that moment.

- There is no valuation cap.

Redemption

- On the earlier of a Qualifying Equity Fundraise and the longstop date of 31 December 2020, the Investor Majority have the option of requesting repayment of their investment plus accrued interest.

- On a change of control of the company or winding-up event, the convertible instrument will be terminated and the funds plus any accrued interest will be returned to investors.

- Those who invest via Seedrs will therefore have their investment convert or repaid in line with the decision of the Investor Majority