Exail Technologies Launches €150 Million Convertible Bond Offering

Exail Technologies S.A. has announced a tap issuance of undated bonds convertible into new shares or exchangeable for existing shares. The nominal amount is set at €150 million, with the option to increase to €175 million. This issuance will align with the company's previous €300 million issue from October 2025.

The bonds, classified under Exail's "European Defence Bond" label, will be issued through an accelerated bookbuilding process and will not require shareholder subscription rights. Settlement is expected on January 20, 2026. The proceeds are intended for general corporate use, including refinancing the 2022 acquisition of iXblue.

BNP Paribas and Natixis are leading the offering as joint global coordinators. Both Exail and its main shareholder, Gorgé S.A., have committed to a 90-day lock-up on shares and securities.