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Exail Technologies issues €256 million of additional undated bonds convertible into new shares and/or exchangeable for existing shares

January 2026

Client(s) Exail Technologies SA

Jones Day advised Exail Technologies SA on its supplementary issuance of undated bonds convertible into new shares and/or exchangeable for existing shares (ODIRNANE), the first European primary offering this year in the Defense sector. Following the success of its inaugural €300 million issue in September 2025, on which Jones Day also advised, Exail decided to tap the initial issue for a nominal value of €256 million.

Listed in Paris with a c. €1.8 billion market capitalization, Exail Technologies is a high-tech defense company specializing in the fields of autonomous robotics and navigation systems, with a strong vertical integration of the businesses. The group offers maritime drone systems, particularly for countering underwater mines, and inertial navigation units using state-of-the-art fibre-optic gyroscope technology.

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