Tonner Drones and Yorkville Agree to Extend Convertible Bonds’ Maturity Date to June 5, 2024

TONNER DRONES AND YORKVILLE AGREE TO EXTEND CONVERTIBLE BONDS’ MATURITY DATE TO JUNE 5, 2024

Cannes, November 15, 2023 at 6:00 pm

Tonner Drones (FR001400H2X4 - ALTD) is pleased to announce that on November 15, 2023, it agreed with Yorkville Advisors ("Yorkville"), one of its main financial creditors, to amend the terms and conditions of the 23,000 bonds convertible into shares ("OCA") issued on June 5, 2023.

The terms and conditions of these OCAs initially provided for a maturity date of December 5, 2023, and that any OCAs that had not yet been converted into Tonner Drones shares by that date were to be redeemed in cash.

On November 15, 2023, Tonner Drones and Yorkville agreed to extend this maturity date to June 5, 2024.

In accordance with Tonner Drones' press release dated June 7, 2023, OCAs that have not been converted or redeemed by their maturity date, as amended, may be redeemed by Tonner Drones, at the request of the OCA holder, in shares at a price per share corresponding to 80% of the volume-weighted average price of Tonner Drones’ shares on the relevant date. As of the date of this press release, none of the 23,000 OCAs issued on June 5, 2023, have been converted into shares.

Yorkville also holds 35 bonds redeemable in cash and/or new shares (the "ORNANs") that were the subject of an assignment agreement as set forth in the Company's press release of June 27, 2023. As a reminder, these ORNANs are subject to a repayment schedule by Tonner Drones, and in the absence of any payment of the scheduled amounts by Tonner Drones, Yorkville has the option of converting these ORNANs into shares.

For further details on the Company's capital transactions, please visit https://tonnerdrones.com/finance.
About Tonner Drones: Tonner Drones (formerly Delta Drone) develops drones and associated technologies for the defense and homeland security sectors. It is also a recognized international player in the sector 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.
Tonner Drones shares are listed on Euronext Growth Paris (ISIN code: FR001400H2X4).
More information on www.tonnerdrones.com

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• 2023 11 15_Avenant accord OCA Tonner Drones et Yorkville_EN