Navya Announces the Issuance of the 3rd Tranche for ?2.0 Million as Part of the Financing Program Concluded with Negma for a Maximum Amount of ?36 Million*

BY Business Wire | CORPORATE | 11/15/22 12:12 PM EST

VILLEURBANNE, France--(BUSINESS WIRE)-- Regulatory News:

NAVYA (FR0013018041- Navya) , an autonomous mobility systems leader (the ?Company? or ?Navya?), today announces the issue of the 3rd tranche of convertible bonds into shares with warrants (OCABSA) for an amount of ?2.0 million.

On July 21st, 2022, the Company announced the implementation of a new equity line with Negma, involving the provision of convertible bonds into shares with warrants in tranches of up to ?2.5 million each, for a total amount of ?36 million, subject to compliance with the conditions of issue, it being specified that neither the convertible bonds nor the warrants will be listed.

Using the delegation of powers granted by the Combined General Meeting of June 17th, 2022 in its 20th resolution, the Board of Directors has decided to issue 800 convertible bonds into shares with warrants, for a total gross amount of ?2.0 million to Negma (the "investor"). This issue follows the 1st tranche of ?2.5 million, i.e. 1,000 convertible bonds into shares with warrants, which was issued on July 21st, 2022 and the 2nd tranche of ?1.25 million, i.e. 500 convertible bonds into shares with warrants, which was issued on October 20th, 2022. This issue was carried out in a context of (i) a recent and sustained increase in the share price, which has risen above par value, and (ii) improved liquidity of the share on Euronext.

The detailed characteristics of this financing program, structured in convertible bonds into shares with warrants tranches of up to ?2.5 million each and a maximum total amount of ?36 million, are described in the prospectus approved by the Autorit? des March?s Financiers (AMF) on November 10th, 2022 under number 22-438 and consisting of an offering memorandum and an amendment to the Universal Registration Document approved by the AMF under number R.22-037.

As mentioned in the press release published on November 10th, 2022, in the event of the issuance of shares resulting from the conversion of the convertible bonds, shareholders will see their stake in Navya's share capital diluted. This stake could also be diluted in the event of the issuance of shares resulting from the warrants. As of October 31st, 2022, the full exercise of all the instruments giving access to the capital allocated and outstanding to date would allow the subscription of 62,609,565,217 New Shares, generating a dilution equal to 99.9% on the basis of fully diluted capital. The interest of a shareholder holding 1% of the share capital would be 0.0009% (based on a share price of the Company equal to ?0.001 after reduction of the nominal value).
The impact of dilution is detailed in section 9 of the offering memorandum.

The details of the new shares issued following the issue of the 1st two tranches of convertible bonds into shares with warrants and of the commitment fee are presented in the attached table: https://www.navya-corp.com/images/PDF/docs/gb/Navya_PR_15112022_OCABSA_2022_EN_b6aba.pdf

There have been no significant events concerning the results or the financial situation of the Company since the information presented in the prospectus approved on November 10th, 2022.

Following the issue of the first three tranches of convertible bonds into shares with warrants on July 20th, 2022, October 20th, 2022 and November 15th, 2022, the Company still has a maximum issue amount of ?30.250 million, which should enable it to cover its estimated cash requirements over the next 12 months if the conditions for issuing the convertible bonds into shares with warrants are met.

About NAVYA
Created in 2014, NAVYA is a leading French name specialized in the supply of autonomous mobility systems and associated services. With 280 employees in France (Paris and Lyon), in the United States (Michigan) and in Singapore, NAVYA aims at becoming the leading player in Level 4 autonomous mobility 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, is dedicated to passenger transport. Since its launch, more than 200 units have been sold in 25 countries as of 31 December 2021. The Autonom? Tract is designed to goods transport. Engaged in an ambitious CSR approach, the Company has an active policy in this area, as illustrated by the obtaining of the ISO 9001 certification in September 2021. The Valeo and Keolis groups are among NAVYA's historical shareholders.

NAVYA is listed on the Euronext regulated market in Paris .
Further details: www.navya.tech

*Subject to conditions: see prospectus approved by the AMF on 30/09/22

Source: Navya

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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