American AeroVironment to become shareholder of CybAero
Swedish CybAero, which is listed on Nasdaq OMX First North in Stockholm, develops and markets unmanned helicopters, has gained a new shareholder. AeroVironment, AV, a leading manufacturer of unmanned aerial vehicles (”UAV”), converted one of its two convertible loans, giving AV a stake of just over 8.5% and making them a significant shareholder in the company.
The SEK 10 million loan now being converted into 1 062 699 shares was issued more than a year ago by CybAero as part of a larger business arrangement between AeroVironment and CybAero. The conversion price is 9.41 SEK/ share. AV continues to hold an additional SEK 10 million convertible loan, bearing the same terms as the loan now being converted.
"We are pleased that AeroVironment decided to convert one of the loans and become a major shareholder of CybAero. We look forward to continued cooperation with AV”, said CybAero CEO Mikael Hult.
For more information please contact:
Mikael Hult, CEO CybAero AB, phone +4613-465 29 00, e-mail: mikael.hult@cybaero.se
Read more on: www.cybaero.se Films: www.youtube.com/cybaero
About CybAero
CybAero AB develops, manufactures and sells autonomous, unmanned helicopter (called VTOL UAVs) and related sensor systems för both defense and civilian missions. CybAero formed in 2003 on the foundations laid in 1992 through research collaboration between Linköping University and the FOI (Swedish Defence Research Agency). CybAero is today with its brand APID established as a leading global player in VTOL UAV field. The company´s product APID has recieved considerable global attention for its ease of use, robustness and price efficiency. CybAero is headquartered in Mjärdevi Science Park in Linköping. The company has approximately 20 employees and is listed on NASDAQ OMX First North. Remium Nordic AB, phone +468-454 32 00, is Certified Adviser. www.cybaero.se
About AeroVironment
AeroVironment is a system provider and operator in the UAV field and in the electricity-based transport solutions. Customers in the U.S. Department of Defense and the armed forces are using electric and hand-launched UAVs for tactical requirements such as real-time reconnaissance, surveillance and communication. A number of U.S. government agencies have participated in the financing, development and demonstration of Global Observer (symbol for registered trademark) which is hybrid technology driven UAVs operating in the stratosphere and can be used for communication or surveillance globally from a single base. AeroVironment’s electricity-based transport solutions cover a wide range of systems such as charging systems for electric vehicles, installation and network services for consumers, automakers, suppliers and government agencies, as well as test systems and industrial charging systems. www.avinc.com.