(Boursier.com) — Thunder Drones concluded, on November 15, with one of its main financial creditors, the company Yorkville Advisors (Yorkville), an amendment to 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 for the OCAs of December 5, 2023, it being specified that the OCAs which had not yet, on that date, been converted into Tonner Drones shares should have been repaid in cash. Tonner Drones and Yorkville agreed on November 15 to postpone this maturity date to June 5, 2024.
It is specified that OCAs which have not been converted or reimbursed at the latest on their maturity date, may be reimbursed by Tonner Drones, at the request of the OCA holder, in shares on the basis of a price per share. share corresponding to 80% of the volume-weighted average price of the Tonner Drones share observed on the date in question. To date, none of the 23,000 OCAs issued on June 5 have been converted into shares.
Yorkville also holds 35 bonds redeemable in cash and/or new shares (ORNANs) which were the subject of a transfer contract as indicated in the company’s press release dated June 27, 2023. These ORNANs are subject to a repurchase schedule by Tonner Drones, and in the absence of payment of the sums relating to the repurchase by Tonner Drones according to this schedule, Yorkville has the possibility of converting these ORNANs.
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