- Laser communication equipment manufacturer Mynaric AG (NASDAQ:MYNA) signed financing in total €80.6 million to refinance existing indebtedness and support growth.
- Under the arrangement, the lenders will provide a $75 million (€68.2 million) secured five-year term loan facility.
- Two affiliates will acquire an aggregate equity stake of approximately 9.1% in Mynaric AG for €12.4 million.
- The net proceeds of the term loan and the equity investment of €75.1 million will be used to repay the company’s existing debt under the May 2022 credit agreement and to support the near-to-medium term business plan.
- For FY23, the company’s Optical Communications Terminal Backlog and Cash-in from Customer Contracts are expected to increase significantly.
Brazil’s PagSeguro Digital Gets A Boost: Goldman Sachs Upgrades Stock, Forecasts Stronger 2024 Growth
Goldman Sachs' Tito Labarta upgrades PagSeguro (PAGS) to Neutral, setting a bullish tone with a raised price target of $13.8. Anticipate sustained low double-digit Total Payment Volume (TPV) growth in 2024, boosting revenue. Labarta foresees improved net margins due to declining interest rates and controlled expenses, positioning PagSeguro for growth in its loan book and deposit base.
