May 11, 2020 / 4:17 PM / 22 days ago

BRIEF-Delta Drone Signs 1 Million Euros Convertible-Bonds Contract With OTT Ventures

May 11 (Reuters) - Delta Drone SA:

* REINFORCES ITS FINANCIAL RESOURCES

* SIGNATURE OF A EUR 1M CONVERTIBLE-BONDS CONTRACT WITH OTT VENTURES

* IN VIEW OF A CASH POSITION OF EUR 2.5M AT BEGINNING OF MAY 2020 AFTER PAYMENT OF MOST OF CURRENT DEBTS, SETTING UP NEW FINANCING IN ADDITION TO EUR 10M CONTRACT FOR ORNAN WITH WARRANTS ANNOUNCED 8 APRIL 2020

* NEW FINANCING WOULD MAKE IT POSSIBLE TO HAVE A MINIMUM CASH POSITION OF EUR 12.5M, WHICH WOULD COVER COMPANY’S FINANCING NEEDS FOR SEVERAL YEARS

* ON CORONAVIRUS: SUSPENSION OF VARIOUS ASSIGNMENTS COULD AFFECT ACTIVITY LEVEL OF Q1 AND EVEN FIRST SIX MONTHS OF CURRENT FINANCIAL YEAR

* ON CORONAVIRUS: NOT POSSIBLE TO EVALUATE FINANCIAL CONSEQUENCES AT THIS TIME Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below