Haffner Energy: €2M Subscribed and Cash Position Strengthened by €4.4M
The renewable fuel solutions designer has completed the first tranche of the investment program concluded with Mundi Énergies and its partners. The transaction is part of a staggered financing mechanism whose activation remains at the discretion of the Company.
A Second Issuance Completing the €2M Tranche
Haffner Energy carried out a second issuance of new shares in the amount of 1,346,907.82 euros, bringing to 2 million euros the total amount fully subscribed under the first sequence of the program concluded with Mundi Énergies and its partners, announced on July 27, 2026.
According to the Company, this issuance constitutes neither a new sequence nor an increase in the program amount, but completes the first sequence it had triggered. The subscription price, determined according to the formula announced on July 27, 2026, stands at 0.4149 euros per share based on a reference VWAP of 0.59274 euros, reduced by a 30% discount.
This issuance resulted in the creation of 3,246,343 new shares, representing a dilution of 1.73% of post-transaction capital, and is accompanied by the allocation to investors of 3,246,343 share subscription warrants (BSA) at an exercise price of 0.7706 euros per share.
Tranche Financing Controlled by the Company
The program is based on a mechanism allowing Haffner Energy to decide on the activation of each sequence, based in particular on its financing needs, industrial and commercial development, and progress of projects conducted with its Canadian partners. Once triggered, a sequence constitutes an irrevocable commitment, executed by one or more issuances at the initiative of investors over a maximum period of two months.
The Company indicates that it has strengthened its cash position by a total of 4.4 million euros in August 2026, taking into account this first sequence of 2 million euros and the exercise of all BSAs held by Hanover Square Investments 1, an affiliate of Alpha Blue Ocean, which contributed an additional 2.4 million euros. Based on the current level of recurring cash consumption, these 4.4 million euros represent approximately 11 months of consumption, without taking into account customer receipts or non-recurring items.
The activation of any new sequence remains at the initiative of Haffner Energy. The next one may be engaged as of September 25, 2026, with the agreement also providing for a possible grouping of sequences if the share price reaches or exceeds 0.80 euros during three consecutive trading sessions.
