on Mynaric AG (isin : DE000A0JCY11)
Mynaric Secures $11 Million Loan to Address Immediate Capital Needs
Mynaric AG has secured an additional bridge loan of USD 11 million as part of its amended loan agreement with US-based lenders. This move aims to address immediate working capital needs. The new loan supplements the USD 95 million originally provided and an earlier USD 5.5 million bridge loan from October 2024.
The agreement includes an extension of the initial bridge loan's maturity to December 30, 2024. Accessing the new loan depends on providing an updated liquidity plan. Mynaric plans to utilize the funds by November 18, 2024.
Additionally, Mynaric anticipates a production increase incentive agreement, potentially bringing in up to USD 9 million, contingent on milestone achievements. Part of this includes a USD 4.3 million upfront payment. The company continues to explore further funding avenues to maintain operations over the next year.
R. H.
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