Tonner Drones welcomes its new investors

Tonner Drones welcomes its new investors

Cannes, 7 March 2024 - 18:00

Tonner Drones (FR001400H2X4 - ALTD) is pleased to announce that it has full support from its new investors.

Tonner Drones recently announced that it had ended all relations with Yorkville advisors. It was able to do so, since it had found investors who were willing to buy the OCA-contract from Yorkville.
Today it received confirmation that Yorkville has received the full remaining payments, therefore the SPA-contract is now fully effective. As communicated in the press-release of March 1^st, therefore there is no relationship anymore between Yorkville and TonnerDrones.
These new owners of the OCA-contract have now informed TonnerDrones that they support management’s strategy to terminate contracts with a variable pricing mechanism.

"I’m pleased that we now have the support of the new TonnerDrones investors. We need their support in the restructering of our capital structure. We have always believed that equity-line products are unfair products. We will therefore freeze the OCA contract and are thankful that our new investorsare supporting the company in seeking more traditional means of financing.” D.M. van den Ouden, member of the board said.

TonnerDrones is pleased that it has fulfilled its long-desired goal, terminating the OCA contract. Although it has already significantly limited the influence of Fiducie A (restricted conversion possibilities and this institution may sell only a maximum of 13.5% of the daily volume), the goal and desire of TonnerDrones and management remains to also terminate this equilization-contract.
TonnerDrones will further focus on completing the restructuring and refinancing, so that it can then be fully focused on rebuilding the company.

About Tonner Drones: Tonner Drones (formerly Delta Drone) develops UAVs and associated technologies for the defense and homeland security sectors. Tonner Drones holds valuable stakes in some of France's leading civilian and military drone manufacturers. Tonner Drones’ strategy is to leverage its shareholdings in these companies through active asset management, a private equity fund, and by teaming up with other private equity funds to become a significant industry consolidator. Additional revenues can be achieved through royalties from patents held by Tonner Drones to recognized manufacturers. Tonner Drones does not plan on owning a factory; however, it is determined to retain R&D for its products and systems in France.

Tonner Drones’ shares are listed on Euronext Growth Paris (ISIN code: FR001400H2X4).

More information at www.tonnerdrones.com
If you would like to find out more, or if you are interested in a partnership: contact@tonnerdrones.com

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