- 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.
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