CybAero, which develops and markets unmanned helicopters, has a new partner. It is the American partner AeroVironment, AV, who has converted one of its two loans.  AeroVironment will thus acquire in CybAero of 8.5 percent, making them the largest shareholder in the company.

The loan of 10 million, now converted into 1,062,699 shares were issued by CybAero for more than a year ago as part of a larger business agreement between AeroVironment and CybAero. The conversion rate is 9:41 per share. Another convertible loans of 10 million is in the name AeroVironment, with the same terms as it is now converted.

“We are very pleased to AeroVironment has decided to convert one of their loans and become shareholders in CybAero. We confidently look forward to closer cooperation with AeroVironment” says Mikael Hult, CEO CybAero.