Mynaric Extends Bridge Loan Maturities and Plans Restructuring

Mynaric AG recently announced the extension of the maturity date for its three existing bridge loans, now set to expire on February 7, 2025. The decision follows advanced negotiations with U.S.-based lenders, initially providing a total of USD 21.5 million in funds between October and December 2024. Additionally, Mynaric is in discussions to secure a fourth bridge loan and a separate restructuring loan.

The extension aims to support Mynaric's ongoing operational needs while preparing for financial reorganization under the German StaRUG proceedings. Current cash reserves amount to EUR 8.4 million, which the company will use to fulfill its operational requirements.

As part of the restructuring, Mynaric may see a reduction in share capital, potentially impacting shareholders. The restructuring and any new financing remain subject to successful negotiations and board approvals.