DJ LIGHTON: LightOn renews its bond financing with the same financial partners for a maximum nominal amount of EUR4 million, and thus extends its cash flow horizon
LIGHTON
LIGHTON: LightOn renews its bond financing with the same financial partners for a maximum nominal amount of EUR4 million,
and thus extends its cash flow horizon
23-Sep-2026 / 19:51 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Press release - Financial information
Paris, 23 September 2026
LightOn renews its bond financing with the same financial partners for a maximum nominal amount of EUR4 million, and thus
extends its cash flow horizon
-- Financing by 2 bond issues up to EUR4 million in nominal value and EUR3.7 million in subscription price
-- Immediate receipt of EUR1.8 million
-- Extended cash horizon until September 2027
LightOn (FR0013230950 - ALTAI) today announced a new bond financing, in continuity with the financing communicated on
13 April 2026[1], subscribed by a group of European investors and the extension of its cash horizon until September
2027.
On this occasion, Jean-Philippe Baert, CEO of LightOn, stated:
"We are pleased to announce the closing of this new financing, in continuity with the financing dated April 2026, for a
nominal value of EUR4 million, subscribed by the same investors including Vester Finance, who trust us to take the next
steps in LightOn's growth. Soon, we will communicate on the new technological advances of our products and the new
commercial offer of LightOn. We look forward to presenting them to our current and prospective clients, both private
organisations and the public sector. This funding thus strengthens our execution capabilities at a key moment in our
transformation and gives us the means to market a cutting-edge technological offering that meets high-demand use
cases."
Cash horizon extended to September 2027
Based on a total subscription price of EUR3.7 million, the Company estimates that its current operations are funded until
September 2027.
Since July 2026, the Company has optimised its cost structure and resource allocation while maintaining the required
capabilities to achieve its strategic objectives. Should any of the assumptions regarding estimated revenues or costs
or public or private funding change, this could impact the Company's cash horizon. The Company continues to seek
funding from investors who will assist it in its medium-term growth.
Main features of the bond issues
The issue of the convertible bonds ("OC0928") was decided by the Chief Executive Officer, using the sub-delegation
granted to him on 16 September 2026 by the Board of Directors, itself using the delegation granted to it by the
Company's General Shareholders' Meeting held on 28 May 2026 under the 10th resolution[2].
The convertible bonds with a nominal unit value of EUR10 were subscribed at 92% of their nominal value, thus at a total
subscription price of EUR1,840,000 paid in full on the subscription day. They will bear no interest or guarantee. They
will be convertible at any time, at a conversion price depending on the stock price at the relevant moment[3].
The simple bonds with a nominal unit value of EUR9.20 were subscribed by the same investors, at 100% of their nominal
value, thus at total subscription price of EUR1,840,000, subject to preconditions. They will bear no interest or
guarantee and will have the same due date as the convertible bonds. Their subscription price will be paid in two equal
installments, when preconditions related to the liquidity of the LightOn share are met. The simple bonds are
redeemable, at the Company's choice, in cash or in convertible bonds with the same features as those described above.
The bonds not converted at the end of a 24-month period from the financing issue date will be ultimately repaid for
100% of their nominal value.
Lighton's four co-founders, who currently own 2,868,742 shares of the Company, have committed not to sell their shares
for 95% of their ownerships, until 80% of bonds are converted or redeemed.
The financing was advised by Vester Finance, which is also the majority subscriber of these 2 bond issues.
The bonds will not give rise to any request for admission to trading on Euronext Growth. These bond issues do not
require the drafting of a prospectus to be submitted for approval by Autorité des Marchés Financiers (French Financial
Markets Authority).
Risk factors
The risk factors affecting the Company are detailed in Chapter 3 of the Registration Document dated 21 October 2024 and
in paragraph 3.1.6 of the 2025 Annual Report, which are available on the Company's website (www.lighton.ai).
In addition to paragraph 3.1.6. of the 2025 Annual Report referred to above, general management has been performed by
Mr. Jean-Philippe Baert, Chief Executive Officer, since the resignation of Mr. Igor Carron from his positions as
Chairman and Chief Executive Officer on 9 July 2026.
Furthermore, the intensifying conflict in the Middle East since 28 February 2026 poses a risk to the Company's ability
to successfully execute its growth strategy in this region.
As the conversion price of the bonds presented above depends on the share price variation, the number of shares that
may be issued upon bond conversion cannot be determined precisely on the bond issue date and the bond conversion may
dilute existing shareholders significantly.
Should preconditions relating to the subscription of simple bonds not be met, the Company would take additional
measures to control its costs, with the understanding that it is also pursuing the search for private or public
funding.
Impact on the shareholder's position and on the ownership of share capital
The following table presents, for information only, three assumptions regarding the impact of the issue of new shares
resulting from the conversion of OC0928 and of the bonds still to be converted in respect of the financing announced on
13 April 2026 ("OC0428") on the shareholder's situation depending on the share price variation.
As of today, the number of OC0428 still to be converted is 19,483, thus a nominal value of EUR194,830, with the same
holders as their issue date. 1,081,725 new ordinary shares with a unit nominal value of EUR0.01 were issued resulting
from the OC0428 conversion.
Conversion price of convertible bonds -10% Current[4] +10%
Number of shares issued resulting from conversion of OC0428 still to be 834,035 746,242 680,397
converted and of OC0928 issued
Number of shares in the share capital after share issue 8,373,478 8,285,685 8,219,840
Dilution of existing share capital[5] 11.06% 9.90% 9.02%
Ownership of a shareholder holding 1% of the share capital before conversion on 0.90% 0.91% 0.92%
an undiluted basis
Ownership of a shareholder holding 1% of the share capital before conversion on 0.88% 0.89% 0.90%
a diluted basis
About LightOn
Founded in Paris in 2016, and the first European AI company listed on Euronext Growth, LightOn develops an enterprise AI platform designed to enable organizations to connect cutting-edge AI to their sensitive data. LightOn offers an integrated architecture built for large-scale production deployment, robust, efficient, and secure, allowing organizations to industrialize use cases in regulated environments. LightOn's solutions are intended in particular for the finance, industrial, healthcare, defense, and public sectors.
LightOn is listed on Euronext Growth Paris (ISIN: FR0013230950, ticker: ALTAI-FR). The company is eligible for PEA and PEA-PME investment schemes and has been recognized as an "Innovative Company" by Bpifrance
To learn more: https://www.lighton.ai
Contacts
LIGHTON
invest@lighton.ai
SEITOSEI --ACTIFIN SEITOSEI --ACTIFIN
Investor Relations Financial Media Relations
Benjamin LEHARI Jennifer JULLIA - +33 6 47 97 54 87
lighton@seitosei-actifin.com jennifer.jullia@seitosei-actifin.com
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[1] https://lighton.ai/fr/newsroom
[2] Delegation of authority to increase the share capital with removal of the preferential subscription right in favour of a specific category of beneficiaries
[3] At least equal to the lower of (i) EUR3.21 and (ii) 93% of the lowest daily volume-weighted average price recorded among the 10 trading days preceding each conversion request
[4] Assumption of a conversion price equal to 93% of the lowest daily volume-weighted average price recorded among the 10 trading days preceding 23 September 2026, thus EUR2.91
[5] Based on the 7,539,443 shares in the Company's share capital as at 23 September 2026
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Regulatory filing PDF file
File: LIGHTON_PR_23.09.2026 vdéf
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Language: English
Company: LIGHTON
2 rue de la Bourse
75002 Paris
France
E-mail: contact@lighton.ai
Internet: www.lighton.ai
ISIN: FR0013230950
Euronext Ticker: ALTAI
AMF Category: Inside information / Other releases
EQS News ID: 2404274
End of Announcement EQS News Service
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