DRONE VOLT: DRONE VOLT announces the success of its capital increase open to all with preferential subscription rights maintained – 06/22/2023 at 17:35

Villepinte, June 22, 2023

• Overall request of 6.4 million euros;
  

• Capital increase of €4.4 million through the issue of 395,811,626 new shares at a price of €0.011;
  

• Listing of new shares from June 26, 2023.
  

DRONE VOLT, an expert in on-board artificial intelligence and manufacturer of professional civilian drones, announces the success of its capital increase with maintenance of preferential subscription rights (“DPS”).

Marc Courcelle, Managing Director of DRONE VOLT, declares: “

I would like to warmly thank all the investors, shareholders or not, who participated in the success of this operation and are now giving us the means to supplement our financing to support our strong future momentum. »

Operation Results

At the end of the subscription period, the overall demand (for irreducible, reducible and free shares) amounted to 578,497,179 New Shares subscribed at a unit price of €0.011, including:

• 247,706,988 New Shares requested on an irreducible basis;

• 68,289,975 New Shares requested on a reducible basis;

• 262,500,216 New Shares requested free of charge.

Insofar as all of the requests, on an irreducible, reducible and free basis, excluding subscription commitments, represented 73.9% of the initial gross amount of the Operation, the subscription commitments entered into by 20 investors, who were committed to subscribing for New Shares that had not been subscribed at the end of the subscription period for a maximum amount of €3,749,999.91 and within the limit of 75% of the initial gross amount of the Operation, were called for a marginal amount of less than €0.1 million.

Finally, the Company carried out a capital increase of €4,353,927.89, through the creation of 395,811,626 new Shares at a price of €0.011 (the ”

Operation

”), according to the following allocation:

• 247,706,988 New Shares subscribed on an irreducible basis, representing 55.95% of the Offer;

• 68,289,975 New Shares subscribed on a reducible basis, representing 15.42% of the Offer;

• 79,814,663 New Shares subscribed free of charge, representing 18.03% of the Offer.

It should be noted that 4,895,555 New Shares were subscribed free of charge under subscription commitments and 63,757,428 New Shares were subscribed free of charge by certain investors beyond their initial subscription commitment.

All subscriptions, irreducible, reducible and free, excluding subscription commitments, have been served.

Reminder of the use of the proceeds of the Operation

As an extension of the capital increase carried out last March, the funds raised within the framework of the Operation will enable DRONE VOLT to strengthen its balance sheet and acquire the financial resources necessary to respond in the best possible conditions to the strong market pull.

Settlement-delivery

Settlement-delivery and admission of the New Shares to trading on the Euronext Growth Paris market are scheduled for June 26, 2023 according to the indicative timetable. The New Shares will carry current dividend rights, will be immediately assimilated to the Company’s existing shares and will be traded on the same quotation line as the latter under the same ISIN code (FR0013088606 – ALDRV).

At the end of the settlement-delivery, the share capital of the Company will amount to €15,026,589.53 and will be divided into 1,502,658,953 shares with a nominal value of €0.01 each.

Impact of the issue on equity per share

For information, the impact of the capital increase on the share of consolidated equity per share (calculations made on the basis of consolidated equity as of December 31, 2022 and the number of shares making up the share capital of the Company as of May 31, 2023) would be as follows:

* based on a number of existing shares of 1,106,847,327 as of May 31, 2023

Impact of the issue on the situation of the shareholder (for the shareholder who does not subscribe)

As an indication, the impact of the capital increase on the participation in the capital of a shareholder holding 1.00% of the Company’s share capital prior to the capital increase and not subscribing to it ( calculations made on the basis of the number of shares making up the Company’s share capital as of May 31, 2023) would be as follows:

* based on a number of existing shares of 1,106,847,327 as of May 31, 2023

Impact on the breakdown of the company’s capital and voting rights

To the knowledge of the Company, no shareholder holds more than 5% of the capital before and after the Transaction.

Prospectus

This offer does not give rise to the establishment of a prospectus subject to the approval of the AMF.

Risk factors

The Company recalls that the risk factors relating to the Company and its activity are set out in its 2022 annual financial report available on the Company’s website (https://www.dronevolt.com/fr/investment-drone-volt /documents/?t=RA ). The occurrence of all or part of these risks is likely to have an adverse effect on the business, financial situation, results, development or outlook of the Company.

In addition, investors are invited to take into consideration the following risks specific to the Transaction:

• the market price of the shares could fluctuate and fall below the subscription price of the shares issued within the framework of the Operation;

• the volatility and liquidity of the Company’s shares could fluctuate significantly;

• sales of Company shares could take place on the market and have an adverse effect on the Company’s share price; And

• the shareholders of the Company could suffer a potentially significant dilution resulting from possible future capital increases.

Operation Partners

DRONE VOLT was advised by Atout Capital (financial), Winston & Strawn (legal) and ACTUS finance & communication (communication).

Next press release: Revenue for 1

^er

semester 2023, Wednesday July 12, 2023

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About DRONE VOLT

Created in 2011, DRONE VOLT is an aeronautical manufacturer specialized in professional civilian drones and artificial intelligence. DRONE VOLT is established in France, Benelux, Canada, Denmark, the United States, Switzerland and Indonesia. A global partner, DRONE VOLT offers its customers “turnkey” business solutions including various services and training in drone piloting.

The DRONE VOLT Group, a member of GICAT, achieved a turnover of 13.7 million euros in 2022.

DRONE VOLT notably supplies administrations and manufacturers such as the French Army, the Ministry of the Armed Forces, Engie, Total, Bouygues ES, ADP, the Gendarmerie des Transports Aériens (GTA), international governmental agencies, etc.

DRONE VOLT is qualified as an “Innovative Company” by Bpifrance.

DRONE VOLT is listed on the Euronext Growth market in Paris:

Share: Ticker: ALDRV – ISIN code: FR0013088606 – Eligible: PEA, PEA-PME

Warrant: Ticker: BNBS – ISIN code: FR0014007951

More information on www.dronevolt.com

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