Risk Notice

This website is operated by Cometum Direct Invest GmbH & Co. KG (the Issuer). All contents of this website are contents of the Issuer and are the sole responsibility of the Issuer. This product is intended exclusively for professional clients as defined by MiFID II. Buyers of a bond assume a significant risk, which can lead to the complete loss of the invested capital. The information provided here is non-binding promotional material and, in its nature and form, expressly does not constitute financial or any other investment advice, nor does it constitute an invitation to submit an offer to purchase, an offer to subscribe to or buy the issuer's bond, or a public offering of securities. The information mentioned in no way replaces investment advice tailored to the investor's circumstances. Only the information provided in the issuer's offering documents (Cometum Direct Invest GmbH & Co. KG), i.e., the terms and conditions of the bond and the risk notice, are decisive for the assessment of the bond. Cometum is not a bank, but solely an issuer and product provider for exclusive private markets products. This investment does not involve the direct acquisition of Kraken shares by the investor; the bond confers no share, membership or ownership rights. Investors participate economically via a subordinated bond in the value development of Kraken, while only the SPV chain directly or indirectly holds shares. All claims under the bonds are subject to a qualified subordination (Sec. 2.2 and 2.3 of the Terms & Conditions): payments of interest and principal are excluded not only in insolvency proceedings, but already outside insolvency for as long as and to the extent that such payment would cause the Issuer's over-indebtedness or inability to pay — payments may be delayed, reduced or lost entirely. Currency / FX risk: Kraken's underlying business and secondary transactions are predominantly denominated in USD, while the bond is issued in EUR; exchange-rate fluctuations between USD and EUR may materially affect the economic outcome for investors. Fees and costs: entry fee and participation fee, as well as SPV, structuring, custody and administrative costs along the SPV chain, reduce the investor's net economic participation; full details are set out in the offering documents. Dilution risk: Kraken may issue additional shares or instruments in future financing rounds, IPO transactions or M&A activity; such issuances may dilute the economic value passed through the SPV chain to the bond. The information regarding the current valuation of Kraken serves informational purposes only. The valuation at which structured participation in Kraken takes place may differ from the current market valuation and does not indicate an indicative entry price from Cometum. The company operates in a highly competitive market environment characterized by regulatory developments and geopolitical uncertainties. Cometum participates directly or indirectly through one or more investments in special purpose vehicles, which in turn are directly involved with Kraken. The Kraken bond is therefore an entrepreneurial investment with risks. In principle, a total loss of the invested capital cannot be ruled out.