Tonner Drones issues free BSA to all shareholders
Paris, October 15th, 2025, 18:00, Tonner Drones ('the Company') provides further details on the issuance of BSA 2025-3.
Following further information from the facilitating bodies, the final schedule for the distribution of BSA 2025-3 ("TDBS3") is now available.
The TDBS3 will be issued on October 22, 2025 to all shareholders and therefore the last day to purchase shares of the Company that entitle shareholders to the TDBS3 will be October 17,2025.
For each share held, one TDBS3 will be freely allocated. One share can be purchased at a price of €0.032 by exercising 10 TDBS3. TDBS3 expires on December 29, 2028. To limit costs, a minimum of 100,000 TDBS3 per exercise request is required.
TDBS3 will be tradable on the exchange under the ISIN code FR0014012ZX8.
Indicative timetable for the Transaction
The table below sets out the expected timeline for the Transaction as of the date of this press release:
| October 17, 2025 |
|
| October 21, 2025 |
|
| October 22, 2025 |
|
| January 9, 2026 |
|
| January 16, 2026 |
|
| July 1, 2026 |
|
| December 29, 2028 |
|
Tonner Drones will provide an overview of all outstanding warrants and their specifics on the website.
Characteristics of the BSA 2025-3
The characteristics of the BSA 2025-3, in particular the terms and conditions for maintaining the rights of warrant holders, are described in paragraphs III of the subscription notice to shareholders published in the Bulletin des Annonces Légales Obligatoires (BALO) No. 121 of October 8, 2025 (No. 2504418).
592,654,821 TDBS3 will be issued which could lead to a maximum issuance of 59,265,482 new shares.
Gross proceeds, in case of full exercise of TDBS3 amounts €1,896,494.42.
The main characteristics of the BSA 2025-3 are described in the appendix of this press release.
Reinstatement of the right to allocate shares to holders of warrants
The right to the allocation of shares held by holders of warrants issued by the Company was suspended with effect from September 19, 2025.
The board of directors has decided to end this suspension as of 23 October 2025. A notice regarding this resumption will be published in the Bulletin des Annonces Légales Obligatoires (BALO) of October 22, 2025.
End of Press-Release.
About Tonner Drones: Tonner Drones develops technologies for the logistics sector. Tonner Drones holds valuable stakes in some promising French drone manufacturers like Elistair and Donecle. Tonner Drones' strategy is to increase the value of its shareholdings in these companies through active asset management. Additional revenues can be achieved through royalties from patents held by Tonner Drones. Tonner Drones does not plan on owning a factory; however, it is determined to retain R&D for its products and systems in France. Tonner Drones uses an active strategy to manage its treasury.
Tonner Drones' shares are listed on Euronext Growth Paris (ISIN code: FR001400H2X4).
More information at www.tonnerdrones.com / contact@tonnerdrones.com
Warning
Regarding the merits of any transaction or the making of any investment decision. It does not constitute or include any confirmation or commitment by Tonner Drones (or any other person) regarding the present or future value of Tonner Drones ' business, its securities, its subsidiaries or any other assets of Tonner Drones.
This press release contains forward-looking statements based on current beliefs and expectations regarding future events. These forward-looking statements may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and/or expectations regarding future financial results, events, operations and services. and product development, as well as statements regarding performance or events. These statements are generally identified by the terms "expect", "anticipate", "believe", "intend", "estimate", "plan", "project", "may", "should" or the negative form of these and other similar expressions. These statements are not guarantees of future performance and are subject to inherent risks, uncertainties and assumptions regarding Tonner Drones and its subsidiaries and investments, trends in their businesses, future capital expenditures and acquisitions, developments relating to contingent liabilities, changes in global economic conditions or Tonner Drones ' principal markets, competitive market conditions and regulatory factors. The realization of these events is uncertain; their outcome could turn out to be different from that envisaged today, which is likely to significantly affect the expected results. Actual results may differ materially from those anticipated or implied in these forward-looking statements. Any forward-looking statements contained in this press release are made as of the date of this press release. Except as required by applicable law, Tonner Drones undertakes no obligation to revise or update any forward-looking statements, taking into account new information or future events.
APPENDIX
Main characteristics of the BSA 2025-3
| Form | Registered or bearer. |
| Detachment and date of entry in the accounts | The BSA 2025-3 will be allocated free of charge on October 22, 2025 to all shareholders holding shares in the Company on October 17, 2025. The BSA 2025-3 will be registered in accounts and tradable from October 22, 2025. |
| Listing of the BSA 2025-3 | The BSA 2025-3 will be listed on Euronext Growth Paris during the exercise period. |
| ISIN Code | FR0014012ZX8 |
| Exercise period | From October 22, 2025 to December 29, 2028 included |
| Treatment of unexercised securitiess | BSA 2025-3 that have not been exercised by midnight on December 29, 2028 will automatically expire and lose all value. |
| Exercise ratio | 10 BSA 2025-3 gives right to subscribe to 1 new Tonner Drones share with a nominal value of €0.0125. |
| Exercise prise | € 0.032 euro per new share |
| Minimum number of BSA 2025-3 to be exercised per each exercise | 100,000 |
| Maximum number of BSA 2025-3 to be issue d | 592,654,821 BSA 2025-3 |
| Maximum number of shares to be issued upon exercise of BSA 2025-3 | 59,265,482 new shares |
| Terms and conditions of exercise | To exercise their BSA 2025-3, holders must submit a request to the intermediary where their securities are registered and must pay the full amount of their subscription. Uptevia will centralise these transactions. |
| Gross proceeds in the event of exercise of all BSA 2025-3 | € 1,896,495.42 (dont € 740,818.53 of nominal value and € 1,155,676.90 of premium) |
