IPOS - Mynaric stock pops 33% intraday after Christian Angermayer-backed laser firm stages IPO

Mynaric (MYNA) soared more than 30% intraday Friday following a U.S. IPO for the German laser-communications firm, which enjoys backing from mega-investor Christian Angermayer, founder of legal-hallucinogens firm Atai Life Sciences (NASDAQ:ATAI). MYNA rose to as high as $22 per American Depositary share, up 33.3% from the $16.50 the company’s initial public offering priced at. The ADSs later partly pulled back, but were still changing hands at $20.01 shortly before 3 p.m. ET, up 21.3% for the session. Each ADS equal 0.25 of MYNA’s ordinary shares. Mynaric (MYNA) also already trades on the Frankfurt Stock Exchange, where its ordinary shares rose 20.4% to close at 72.70 euros ($83.23). The company builds laser-communications systems to connect the ground with airplanes, drones and satellites. MYNA wrote in an F-1 filing with the U.S. Securities and Exchange Commission that its laser system beats traditional radio-frequency communications by using lower power and no licensed

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Mynaric stock pops 33% intraday after Christian Angermayer-backed laser firm stages IPO