MYNA - Mynaric secures Euro80.6M debt/equity financing

2023-04-25 10:14:13 ET

• Mynaric ( NASDAQ: MYNA ) signed a €80.6M financing to refinance existing indebtedness and support further growth with funds affiliated with a U.S.-based global investment management firm.
• Under the arrangement, the lenders will provide a $75M (~€68.2M) secured five-year term loan facility and two affiliates will acquire an aggregate equity stake of ~9.1% in Mynaric AG for €12.4M.
• The new shares are expected to be issued out of the company's authorized capital under the exclusion of shareholders' subscription rights on or around 28 April 2023.
• The company resolved to increase the company's share capital from €5.67M to €6.23M by issuing 565,224 new ordinary shares.
• The net proceeds of the term loan and the equity investment €75.1M will be used to fully repay the company's existing debt under the May 2022 credit agreement and provide working capital funding to support the near-to-medium term business plan.

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