VILLEURBANNE, France--(BUSINESS WIRE)--Regulatory News:
NAVYA (Paris:NAVYA) (FR0013018041- NAVYA), a leading company in autonomous driving systems, announces the extension of the subscription period for the second €10 million tranche of the bond issue subscribed by Esmo Corporation as announced September, 30 2019 and the measures in the event of non-completion.
The subscription of the 10 ORNANE bonds of the first tranche of the bond issue by ESMO Corporation for an amount of €10 million which took place on September 30, 2019 remains confirmed.
Following Esmo Corporation's request, NAVYA is granting an extension of the subscription period for the second €10 million tranche of the bond issue until February 21, 2020.
In the event of non-completion of the operation by this date, the following provisions have been agreed:
- On 30/09/2020, automatic conversion of €9 million of bonds already subscribed at a price of €2.75 per share
- Waiver of debt relating to €1 million of bonds already subscribed
- End of the partnership project signed in June 2019, replaced by an exclusive distribution agreement in Korea
- Resignation of Mr. Kim from the Supervisory Board of NAVYA
As of December 3, 2019, NAVYA has a cash position of nearly €22 million.
NAVYA is a leading French name in the autonomous driving systems. With more than 290 employees in France (Paris and Lyon) and in the United States (Michigan), NAVYA aims at becoming the leading player for the supply of autonomous driving systems for passenger and goods transport. Since 2015, NAVYA has been the first to market and put into service autonomous mobility solutions. The AUTONOM® SHUTTLE, main development axis, was launched in September 2015 and more than 130 units have been sold as of 30 June 2019, notably in the United States, France, Germany Switzerland, Japan and Australia. The AUTONOM® TRACT, whose first road tests will start shortly, is dedicated to goods transport. Created in 2014 with the support of Robolution Capital, investment fund managed by 360 Capital Partners, his reference shareholder, NAVYA’s shareholders also include the Gravitation fund and Paris Region Venture Fund (Région Île-de-France) managed by Cap Decisif Management as well as Valeo and Keolis groups.
NAVYA is listed on the Euronext regulated market in Paris (ISIN code: FR0013018041- NAVYA).
For more information visit: www.navya.tech/en