Drone Volt: A €2.35M capital increase through dilutive private placement
The French professional drone manufacturer completed a capital increase through private placement with the waiver of pre-emptive subscription rights. The transaction aims to strengthen its financial structure and support a business model focused on high-margin service activities. Settlement and admission to trading on Euronext Growth are scheduled for September 8, 2026.
A share issuance accompanied by subscription warrants
Drone Volt announced on September 4, 2026 a capital increase totaling €2.35 million gross, through the issuance of 6,724,178 new shares, each accompanied by a subscription warrant. This issuance was subscribed by a limited number of investors, with the waiver of pre-emptive subscription rights in favor of categories determined by the extraordinary general assembly of June 30, 2026. The issuance price of an ABSA stands at €0.35, representing a discount of 16.9% compared to the volume-weighted average price of the ten trading sessions preceding the price setting, from August 21 to September 3, 2026 (€0.4212). When incorporating the theoretical value of the attached subscription warrant and its exercise price, the discount stands at 29.8% compared to the same average price, which is the maximum authorized by the 17th resolution of the general assembly. Each subscription warrant grants the right to subscribe for one new share at the exercise price of €0.35, exercisable over a period of 60 months from its issuance.
Financing operations, R&D and potential acquisitions
According to the Company, the funds raised are intended to finance its operating cycle, consolidate its growth trajectory and expand its research and development activities. The transaction also provides the Company with flexibility to pursue, if appropriate, targeted acquisition opportunities. Drone Volt emphasizes the orientation of its model toward high-margin activities, with the Services segment now representing nearly 40% of half-yearly revenue. The group also reiterated the Sol.One order announced in early September 2026, for a total minimum amount of €50 million over five years. The issuance represents 8.7% of current share capital before the exercise of subscription warrants, and 17.3% after full exercise of all warrants. A shareholder holding 1% of the capital before the transaction and not subscribing to it would see its stake reduced to 0.92%, then to 0.85% if all warrants were exercised.
