Latecoere Announces the Success of Its Share Capital Increase With Shareholders’ Preferential Subscription Rights for an Amount of Approximately €124.4 Million, Which Is a Critical Enabler to the Company’s Ramp up Plans

Regulatory News:

Not to be published, distributed or circulated directly or indirectly in the United States, Canada, Australia or Japan.

This press release is an advertisement and not a prospectus within the meaning of Regulation (EU) 2017/1129.

Latecoere (Paris:LAT) (the “Company”), a tier 1 provider to major international aircraft manufacturers, announces today the success of its capital increase with preferential subscription rights for an amount of approximately €124.4 million (the “Capital Increase”), after total exercise of the extension clause.

Greg Huttner, CEO of Latecoere declared: “Latecoere has been growing 40% in H1 2023 with 6000 employees around the world working hard to meet the growing volume demands from customers. This growth requires significant investment in operational capabilities and working capital. The company is also working on a plan to restore profitability through a mix of commercial, efficiency and productivity levers. We have a huge opportunity as a company given the significant ramp up in demand for our business in 2024 and 2025 as well as additional potential new business. This capital raise is a critical enabler and puts us on a solid footing from a cash perspective to successfully execute on the plan, drive our revenue growth and restore the company to profitability.”

Results of the capital increase

Following the subscription period which ended on November 14^th, 2023, total demand amounted to approximately €125.0 million (including the subscription on a reducible basis of Searchlight Capital Partners), representing a subscription rate of 115.5% before exercising the extension clause:

• 9,673,818,582 new shares have been subscribed on an irreducible basis (“à titre irréductible”) representing approximately 89.4% of the shares to be issued (before exercising the extension clause);
• 2,824,913,664 new shares have been applied for on a reducible basis (“à titre réductible”);
• Thus, in accordance with the terms of the Conciliation Protocol, the Company exercised totally the extension clause. Consequently, the extension clause will be allocated with 1,623,020,560 new shares.

The gross proceeds of the Capital Increase (without issue premium) will thus amount to 124,431,576.30 euros, with the issue of 12,443,157,630 new shares at a subscription price of €0.01 per share.