Tonner Drones has strengthened its cash position by €1.5 million through the issuance of a traditional bond with warrants to a supportive investor. The bond matures on December 31, 2027, carries a 5% interest rate paid monthly, and includes two series of warrants. Series A warrants have an exercise price of €0.028 and could generate €1.5 million upon full exercise, while Series B warrants have an exercise price of €0.032 and could generate an additional €1.5 million, with maximum aggregate dilution of approximately 16%. The investor, Sitimo Ltd, a long-term backer of Dutch companies, cited confidence in CEO Diede van den Ouden's strategy and the company's potential in defense, drone, and technology sectors. Tonner Drones plans to use the funds to capitalize on emerging opportunities in those dynamic markets.
Tonner Drones S.A.Raises €1.5M via bond with warrants, strengthening cash position for growth opportunities.
