DELTA DRONE - Drawing of a tranche of ORNAN of €2.5 million in nominal value and significant reduction in potential dilution
May 10 2022 - 12:00PM
DELTA DRONE - Drawing of a tranche of ORNAN of €2.5 million in
nominal value and significant reduction in potential dilution
Drawing of
a tranche of
ORNAN of €2.5
million in nominal
valueand significant reduction in potential
dilution
Dardilly, May 10, 2022 – 6pm
Increase in financial resources
and significant reduction in potential
dilution
The financing transaction agreed between Delta
Drone and Yorkville Advisors will take place in two parts, with the
draw of a tranche of €2.5 million today (May 10, 2022), followed by
the draw of a second tranche of €1 million scheduled for June 10,
2022 (the draw of this second tranche will be the subject of a
specific press release).
This agreement is part of a particular context
that aims not only to strengthen the group's financial resources,
but also to reduce the potential dilution in a very significant
way.
The reinforcement of financial resources is
justified by the commercial prospects that are accumulating and
require a need for sufficient working capital, in line with the
sale of equipment whose unit value is between 150 and 200 K€.
Regarding the reduction in potential dilution,
the drawdown of the €2.5 million tranche of ORNAN achieved today is
accompanied by the acquisition by Delta Drone of all existing BSAs
held by Yorkville Advisors, i.e. 2,147,549,465 BSA which
represented a potential future dilution of 36.76%. The cash value
of these BSAs is based on an assessment by an independent expert,
whose work has been the subject of a written report.
It should be noted that this number of BSAs does
not include the BSAs attached to the two draws to come, the one of
today and that of June 10th. All the BSAs attached to these two
tranches will be immediately bought by Delta Drone at a price of
€1.
All BSAs will be cancelled in order to eliminate
the risk of dilution attached.
Drawing of a tranche of ORNAN of €2.5
million in nominal value
In accordance with the delegation of competence
conferred on the Board of Directors by the Extraordinary General
Meeting of Shareholders of Delta Drone (the
"Company") on April 24, 2020 under the terms of
its 6th resolution, the Board of Directors has, on October 14,
2020:
- approved the principle of an issue
of 2,500 warrants (the "Warrants"), which will
give rise, on exercise, to the issue of 2,500 bonds redeemable in
cash and/or new shares (the "ORNAN") accompanied
by share purchase warrants (the "BSAs"), for the
benefit of the investment fund YA II PN, LTD (the
"Investor"), a fund managed by the US asset
management company Yorkville Advisors, representing a bond
financing of a maximum total nominal amount of €25 million,
and
- delegated to the Chairman and Chief
Executive Officer the power to decide on the launch of this
operation, to decide on the final terms, to issue the Emission
Vouchers, and to proceed with the issuance of the ORNAN with BSA
attached.
Making use of the subdelegation granted to him
by the Board of Directors on April 28, 2020, the Chairman and Chief
Executive Officer has decided to draw a tranche of ORNAN with BSA
attached.
The main features of the Warrants, ORNAN and
BSAs (the detailed terms and conditions of which are available on
the Company's website (www.deltadrone.com) in the "Investors" tab)
were the subject of a press release dated October 14, 2020.In
accordance with the provisions of the financing agreement concluded
on 14 October 2020 with the Investor, a tranche of ORNAN with
attached BSAs of €2.5 million in nominal value was subscribed
today, corresponding to the issue to the Investor of 250 ORNAN. All
attached BSAs are immediately purchased by Delta Drone for an
overall price of €1, before being cancelled.
About Delta Drone: Delta Drone
Group is a recognized international player in the field of civilian
drones for professional use. It develops a range of professional
solutions based on drone technology as well as all associated
services that form a complete value chain.Delta Drone shares are
listed on the Euronext Growth Paris market – ISIN code:
FR0011522168BSA Y – ISIN code: FR 0013400991www.deltadrone.com
Investor
contacts: Press
contact:
|
|
|
Jerome
Gacoin |
Marie-Laure Laville |
+33 1 75
77 54 65 |
+33 1 55 02 15 13 |
jgacoin@aelium.fr |
ml.laville@open2europe.comSarah Ousahla+33 1 55 02 15
31s.ousahla@open2europe.com |