Nasdaq Welcomes BH Meraki to the Baltic First North Market

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, November 15, 2021 - Nasdaq
announces that bonds issued by BH Meraki UAB, a special purpose vehicle of the
real estate fund Baltic Horizon Fund, have been admitted to the Nasdaq Baltic
First North Market by Nasdaq Vilnius as of today, November 15.
The size of the bond issue is EUR 4 million. The bonds have a nominal value of
EUR 100 and an annual interest rate of 5% with interest paid semi-annually. The
bonds, which were offered to investors in the form of a private placement,
mature on November 19, 2022. 

On May 12, 2021, BH Meraki UAB completed the private placement of EUR 4.0
million of 18-month secured bonds. During the primary placement, a first
tranche contributing to half of the maximum aggregate value of EUR 8 million
had been issued. Proceeds of the issue will be used to finance the construction
of the Meraki office building in Vilnius. 

"We welcome BH Meraki as a new issuer on the Baltic First North market and the
Nasdaq Vilnius stock exchange," says Saulius Malinauskas, the President of
Nasdaq Vilnius. "It is great to see the First North market enabling the company
to pursue its business objectives and create a circle of investors. We wish BH
Meraki all success on the public capital market." 

"Baltic Horizon Fund has been an active participant of the regional capital
markets since the first listing with fund units on Nasdaq Tallinn in June 2016.
In December the same year, we became listed in Stockholm and in August 2018,
fund level bonds were listed. This property level bond listing is Baltic
Horizon's fourth Nasdaq listing. The oversubscribed private placement confirmed
a strong interest in the Meraki bond among both institutional and private
investors, and we are now listing the bonds on Nasdaq First North to offer
liquidity for our investors," commented Tarmo Karotam, the fund manager of the
Baltic Horizon Fund. 

The Nasdaq First North market is designed 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. 

About BH Meraki UAB

The issuer BH Meraki UAB is an SPV established by the Baltic Horizon Fund.
Baltic Horizon Fund is actively managing commercial real estate properties in
Baltic capitals worth approximately EUR 330 million. The closed-ended
contractual investment fund is managed by Northern Horizon Capital AS, an
experienced investment manager focusing on specialized real asset investment
strategies in Northern Europe. The Issuer has been established with the aim to
develop Meraki business complex in Vilnius, Lithuania. The main characteristics
of Meraki Project are in line with the Fund's investment targets as it is
easily accessible location, has synergies with existing property and integrates
modern spaces with sustainability. 

About Nasdaq
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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq
Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:
nasdaqbaltic.com. 

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