Delta Drone Enters into New Securities Purchase Agreement with Yorkville


Delta Drone Enters into New Securities Purchase Agreement with Yorkville

Dardilly, 27 June 2023 at 08:30 am


Delta Drone is pleased to announce that today it entered into a new Securities Purchase Agreement (the “New SPA”) with YA II PN, Ltd (“Yorkville”) that replaces the Securities Purchase Agreement that was signed between the parties on 5 June 2023 (the “Original SPA”).

The New SPA provides Delta Drone with greater cash flow flexibility over the next few months as new management continues the process of restructuring and strengthening the company.

Pursuant to the Original SPA, Delta Drone was to purchase one hundred and twenty-five (125) notes convertible into new shares of Delta Drone and/or redeemable in cash (the “Outstanding Notes”) held by Yorkville for €1,250,000 payable within 20 days of new management’s arrival at Delta Drone. Further negotiations between the parties since that time led to Yorkville terminating the Original SPA on 26 June 2023 rendering it null and void and replacing it with the New SPA.

On the same day, Delta Drone and Yorkville entered into the New SPA setting forth the following payment plan:

Purchase Schedule
InstallmentsSettlement DateNumber of Outstanding Notes being purchasedPurchase Price
Installment 1June 26, 202363630 000 €
Installment 2July 26, 2023880 000 €
Installment 3August 25, 2023880 000 €
Installment 4September 26, 2023880 000 €
Installment 5October 26, 2023880 000 €
Installment 6November 24, 2023880 000 €
Installment 7December 26, 2023880 000 €
Installment 8January 26, 2024880 000 €
Installment 9February 26, 2024660 000 €
Total 1251 250 000 €

This payment plan with Yorkville provides Delta Drone with the cash flow flexibility needed over the next several months of restructuring,” stated Jean-François OTT, President of Delta Drone.


About Delta Drone
: The Delta Drone Group is a recognized international player in the sector of civil 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 Euronext Growth Paris – ISIN code: FR001400H2X4
www.deltadrone.com


Investor contacts:

Aelium  
Jerome Gacoin 
+33 1 75 77 54 65 
jgacoin@aelium.fr 

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