DBT Draws €500,000 from WTO29 in Convertible Bonds to Fund Its Development
French electric mobility specialist DBT is tapping into its financing line with WTO29 by drawing two new tranches of convertible bonds. This operation is part of a total envelope of 5 million euros established in June 2025 to support the group's development.
Two Tranches of Convertible Bonds Worth €250,000 Each
DBT announced on Wednesday the issuance of the eighth and ninth tranches of its convertible bond program (OCEANE) for a total nominal amount of €500,000. Each convertible bond will have a nominal value of €5,000 and will be subscribed at its nominal value, representing the issuance of 100 new bonds. These securities will not bear interest and will have a maturity of 24 months from the date of issue.
Financing within a €5 Million Envelope
This drawdown is part of the financing agreement signed with WTO29 on June 6, 2025, which provides for a maximum envelope of 5 million euros to support the development of the group's scope. The operation is based on a delegation of authority granted by the extraordinary general meeting on February 6, 2024, which authorizes the board of directors to increase the share capital with the elimination of the shareholders' preferential subscription rights.
Dilution for Existing Shareholders
The group draws investors' attention to the risk factors associated with this financing, particularly the significant dilution risk when the convertible bonds are converted into shares. This conversion would occur under the terms set in the financing agreement, altering the company's capital structure.
