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2016-09-14

CybAero: CybAero proposes a resolution for a preferential share issue of approx. SEK 128 million and obtains a short term loan financing of SEK 20 million

The Board of CybAero AB ("CybAero" or the "Company") has resolved on
14 September 2016 to propose an extraordinary meeting with the
shareholders to resolve upon a share issue with preferential rights
for the shareholders of approx. SEK 128 million. The share issue is
guaranteed up to approx. SEK 115 million through subscription and
guarantee undertakings corresponding to approx. 90 per cent of the
total amount of the share issue. In order to provide CybAero with
working capital for the period until receipt of the subscription
amount, the Company has obtained a short term loan financing of SEK
20 million.

Background and motive in brief

CybAero has taken extensive measures to reduce costs and has
restructured the sales and marketing departments in order to support
the growth target. Accomplished measures combined with the present
share issue of approx. SEK 128 million, aiming to increase the
financial flexibility, and future cash flow generated by the
business, including expected payment from the three helicopter system
which have been delivered to the customer Jolly, is expected to
strengthen the Company's balance sheet and reduce the net debt.

After extensive factory tests and further development of the Company's
helicopter platform, the three helicopter systems have in August been
delivered to Jolly, with the Chinese customs as the end customer.
CybAero is first in the world to launch this kind of system and the
Company now enters into a commercialization phase. The cooperation
with Albright Stonebridge Group, which started in December 2015, has
resulted in several important meetings with decision makers during
2016 and the Company is of the opinion that the cooperation will
contribute to the Company's growth already during 2017.

The new share issue will provide CybAero approx. SEK 128 million,
before costs for the share issue. From the issue amount will be
deducted costs for the share issue of approx. SEK 16 million
(including remuneration for underwriting commitments of approx. SEK 9
million). The Company will use the net proceeds from the share issue
of approx. SEK 112 million primarily to strengthen its balance sheet
through repayment of loans of approx. SEK 54 million, including the
short term financing of SEK 20 million obtained in September 2016, in
order to provide the Company with working capital until the net
proceeds from the share issue has been received, and to increase the
financial flexibility to support the growth target, but also to
create a financial preparedness to handle periods with fluctuations
when the order flow could be influenced by long decision-making
processes and lead times.

Conditions in brief

Shareholders will receive one (1) subscription right for each share
owned on the record date 12 October 2016. One (1) subscription right
entitles to subscription for one (1) new share. The company's share
capital may be increased with not more than SEK 47 992 228 kronor 50
öre [1] and the number of shares issued will not exceed 31 994 819[1]
shares. The subscription price is SEK 4.0.

[1] If the 69 066 new shares in the company, which have been
subscribed for through the use of outstanding warrants, will be
registered by the Companies Register and in the share register kept
by Euroclear Sweden AB before the record date for the share issue,
the share issue decision shall be deemed to include that the
company's share capital may be further increased by not more than SEK
103 599 through a share issue of not more than 69 066 shares.

Shares may also be subscribed for without the support from
subscription rights. Shares subscribed for without support from
subscription rights shall primarily be distributed to those who have
subscribed for shares with support from subscription rights,
irrespective of if they were shareholders on the record date or not,
in proportion to the number of used subscription rights, and secondly
to those who have subscribed for shares without support from
subscription rights, irrespective of if they were shareholders on the
record date or not, in proportion to the number of shares subscribed
for during the normal subscription period; and if that is not
possible, by the drawing of lots, and thirdly to those who subscribed
for shares during any extended subscription period, irrespective of
if they were shareholders on the record date or not, in proportion to
the number of shares subscribed for during such extended subscription
period; and if that is not possible, by the drawing of lots, and
finally to those guarantors who have guaranteed subscription and
payment of those shares which have not been distributed to any other
subscriber, in relation to the guaranteed amount.

The record date for establishing which shareholders shall be entitled
to receive subscription rights is 12 October 2016. The shares will be
traded with right to participate in the share issue up until 10
October 2016. Subscription shall take place during the subscription
period from and including 19 October 2016 up until 4 November 2016 or
such later date that the Board may decide. Trade in subscription
rights is supposed to take place from and including 19 October 2016
up until 2 November. Trade in paid subscribed shares will take place
from and including 19 October 2016.

Shareholders who choose not to participate in the new share issue will
have their ownership in the Company diluted by 50 per cent, but may
compensate themselves financially by selling their subscription
rights.

The share issue presupposes a decision by an extraordinary meeting
with the shareholders which will be held on 4 October 2016. Notice to
the meeting will be subject to a separate press release.

Subscription - and underwriting commitments

CybAero has received commitments to subscribe for shares in the share
issue from a number of major shareholders, including Rambas AB, of
approx. SEK 4 million, corresponding to 3 per cent of the share
issue. The Company has further entered into agreements for
underwriting commitments of approx. 111 million, corresponding to 97
per cent of the share issue. Altogether the share issue is guaranteed
up to an amount of SEK 115 million, corresponding to 90 per cent of
the amount of the share issue

Indicative timetable for the rights issue

4 October 2016: Extraordinary meeting with the shareholders to resolve upon the Board's proposal of a new share issue.

10 October 2016: The last trading day for the share with right to participate in the new share issue.

11 October 2016: The first trading day without right to participate in the new share issue.

About 11

October 2016: Announcement of prospectus.

12 October 2016: Record date, i.e. shareholders who are registered in the share register that day will receive subscription rights entitling to participation in the new share issue.

19 October -

2 November 2016: Trade with subscription rights on Nasdaq First North.

19 October -

4 November 2016: Subscription period.

About 9

November 2016: Announcement of result.

Advisors

Financial advisors to CybAero in connection with the share issue are
Erik Penser Bank and Redeye AB. Legal advisor to the Company is
Advokatfirman Delphi.

For more information, please contact:
Emmelie Axelsson, Marketing Coordinator, CybAero AB, phone: +46
(0)13-465 29 30

email: emmelie.axelsson@cybaero.se
This information is information that CybAero AB is obliged to make
public pursuant to the EU Market Abuse Regulation. The information
was submitted for publication, through the agency of the contact
person set out above, at 08:30 CET on September 14 2016.

Important Notice

The information in this press release does not contain or constitute
an offer to acquire, subscribe or otherwise trade in shares,
subscription rights or other securities in CybAero AB (publ). Any
invitation to the persons concerned to subscribe for shares in
CybAero AB (publ) will only be made through the prospectus that
CybAero AB (publ) estimates to publish on or around October 11, 2016.

This press release may not be released, published or distributed,
directly or indirectly, in or into Australia, Japan, Canada, the
United States or any other jurisdiction where participation would
require additional prospectuses, registration or measures besides
those required by Swedish, Finnish, Danish, UK and Irish law.

Nor may this press release be distributed in or into such countries or
any other country or jurisdiction in which distribution requires such
measures or otherwise would be in conflict with applicable
regulations. Any failure to comply with the restrictions described
may result in a violation of applicable securities regulations.

No subscription rights, paid subscribed shares or shares in CybAero
have been or will not be registered under the United States
Securities Act of 1933, as amended (the "Securities Act") or the
securities legislation of any state or other jurisdiction in the
United States and no subscription rights, paid subscribed shares or
shares may be offered, subscribed for, sold, resold, delivered or
otherwise transferred, directly or indirectly, in or into the United
States except under an available exemption from, or transaction not
subject to, the registration requirements under the Securities Act
and in compliance with the securities legislation in the relevant
state or any other jurisdiction of the United States.

There is no intention to register any securities referred to herein in
the United States or to make a public offering of the securities in
the United States. This press release contains certain
forward-looking information that reflects CybAero's present view of
future events as well as financial and operational development. Words
such as "intend", "assess", "expect", "may", "plan", "believe",
"estimate" and other expressions entailing indications or predictions
of future development or trends, not based on historical facts,
constitute forward-looking information. Forward-looking information
is inherently associated with both known and unknown risks and
uncertainties as it depends on future events and circumstances.
Forward-looking information is not a guarantee of future results or
development and actual outcomes may differ materially from the
statements set forth in the forward-looking information.

About CybAero
CybAero develops and manufactures Remotely Piloted Aircraft Systems
(RPAS) for safer and more effective aerial operations in various
environments, including those hazardous in nature. The company has
made a great international impact with its APID One helicopter, which
can be adapted for both military an...

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