Travel Technology Interactive (ENXTPA:ALTTI) announced a private placement of 1,500,000 convertible bonds at €1 per bond for gross proceeds of €1,500,000 on June 30, 2014. The company will also issue 1,500,000 warrants as part of the transaction. The bonds will be issued over a period of four years in two tranches. The bonds will carry an annual nominal interest of 5% per annum and non-conversion premium equal to 3% capitalized annually. The bonds will be convertible into common shares of the company at a conversion price of €1.10 per share. The warrants issued as part of the transaction will be exercisable into common shares at €1.35 per share. The warrants are detachable from the convertible bonds at the option of the holder. The warrants will be listed on the market no later than December 31, 2015. The transaction was approved at the Extraordinary General Assembly of the company.

On July 24, 2014, Travel Technology Interactive (ENXTPA:ALTTI) closed the transaction. The company received €500,000 in the round, with the investment made by an institutional investor.