Mynaric Announces Approval Of The Majority Of The Groups And Confirmation Of The Starug Restructuring Plan By The Restructuring Court Mynaric AG announced the approval of its restructuring plan under the German Corporate Stabilization and Restructuring Act (StaRUG) by the majority of voting groups and confirmation by the Munich restructuring court. The plan includes a significant financial restructuring with a share capital reduction to zero, resulting in current shareholders' exit without compensation and company delisting. JVF-Holding GmbH will become the sole new shareholder through a EUR 50,000 cash capital increase. The plan also includes a USD 105.5 million loan waiver plus interest and fees by the financial creditor. Implementation is expected by end of Q2/2025 or early Q3/2025, with restructuring financing secured until December 31, 2028.

#MYNA #MYNAY #MOYFF Mynaric Announces Approval Of The Majority Of The Groups And Confirmation Of The Starug Restructuring Plan By The Restructuring Court

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Mynaric to Receive Early Partial Disbursement of Restructuring Loans Due to Delays in StaRUG Proceedings Mynaric AG (MYNA) will receive an early partial disbursement of up to $10.5 million from its previously agreed $25 million restructuring facility due to delays in StaRUG proceedings. The early payout loans, provided by U.S. lenders CO FINANCE II LVS I LLC and OC III LVS LIII LP, will help secure current operational and working capital needs. The loans bear an 8% annual interest rate and will mature on December 31, 2028.The company expects the StaRUG proceedings to conclude in late Q2/2025 or early Q3/2025, with a discussion and voting meeting scheduled for May 28, 2025. These new loans are in addition to previous $95 million loans and $49.5 million bridge loans. Notably, Rocket Lab USA has entered into a non-binding term sheet with the U.S. lenders regarding their future interest in Mynaric.

#MYNA #MYNAY #MOYFF Mynaric to Receive Early Partial Disbursement of Restructuring Loans Due to Delays in StaRUG Proceedings

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