Cybergun lands with the launch of its ORA-BSA issue

Photo credit © Cybergun

( — Cybergun which this morning gave an update on its operational activity, its financial situation and its outlook, fell 49.49% to 0.2 euro in session.

Cybergun has also launched a fundraiser intended to strengthen its financial structure and support its development programs. The specialist in recreational shooting is launching an issue of bonds redeemable in shares (ORA) accompanied by share subscription warrants (BSA) (together the ORA-BSAs), with shareholders’ preferential subscription rights (DPS) maintained. This transaction is for a maximum gross amount of 6.81 million euros.

Specifically, it is planned to issue a maximum number of 6,818 ORAs with a nominal value of 1,000 euros each and a maturity of 2 years to which 2,083 BSAs will be attached per ORA. The redemption of 1 ORA will give rise to the issue of 2,500 new shares, i.e. an issue price per share of 0.40 euro corresponding to the volume-weighted average price of the Cybergun share for the 5 trading days preceding the 28 november. The BSAs will be detached as soon as the ORA-BSAs are issued. Each BSA will give the right to subscribe to 1 Cybergun share for a period of 2 years from the 1st anniversary of their issue at an exercise price set at 0.36 euro (corresponding to 88% of the average price weighted by the volumes of Cybergun share for the 5 trading days preceding November 28, 2022). The exercise parity of the BSAs will be adjusted quarterly at the end of a period of 12 months following their issue to take into account the evolution of the Cybergun share price and thus maintain their attractiveness for subscribers to the issue of ORA-BSA.

In addition, in the immediate extension of the ORA-BSA issueit is provided :
1) the establishment of a management trust responsible for converting all or part of the ORAs issued and transferred to the Trust into Cybergun shares, in a structured and organized manner over time, then selling the resulting Cybergun shares on the market (process of ‘equitization’);
2) the subscription over time, by the Fiducie, to several successive issues of Cybergun dry bonds (OS) for a maximum total amount of 6 ME thanks to the proceeds of the sale on the market of the shares resulting from the equitization of the NRS , and OS if applicable
3) the equitization of OS by the Trust.

It is specified that persons who have subscribed to ORA-BSA will in no way be obliged to join the Fiducie and transfer their ORA to it.

In the event of subscription of all 6,818 ORAs, the gross proceeds of the issue would be 6 ME before exercise of the attached BSAs and subscription of the OS by the Trust, i.e. a maximum net proceeds that can be received by the company of approximately 5 .75 ME.
Furthermore, the exercise of the maximum number of BSAs to be issued would allow the company to receive additional gross proceeds of €5.11 million. Finally, the subscription by the Fiducie of the maximum total amount of OS concerned would allow the company to receive additional gross proceeds of 5.28 M.


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