Mynaric Expects the Capital Reduction to Zero and Subsequent Capital Increase to Take Effect Shortly, Resulting in the Current Shareholders to Leave Without Compensation and Trading to End
Mynaric AG (OTC:MYNA) announced the imminent execution of a drastic restructuring plan that will result in a complete capital reduction to zero euros, followed by a cash capital increase. The plan, which was approved on May 28, 2025, and confirmed by the Munich Local Court, will lead to current shareholders leaving without compensation and the termination of share trading on the Frankfurt Stock Exchange.
JVF-Holding GmbH, the financial creditor affected by the plan, has indicated readiness to proceed without waiting for the investment review process. The capital measures are expected to be registered with the commercial register on July 30, 2025. Following the registration, existing shares will expire and be removed from custody accounts by custodian banks.
Mynaric AG (OTC:MYNA) ha annunciato l'imminente attuazione di un piano di ristrutturazione drastico che comporterà una riduzione totale del capitale a zero euro, seguita da un aumento di capitale in denaro. Il piano, approvato il 28 maggio 2025 e confermato dal Tribunale Locale di Monaco, porterà a la perdita di qualsiasi compenso per gli azionisti attuali e alla cessazione della negoziazione delle azioni presso la Borsa di Francoforte.
JVF-Holding GmbH, il creditore finanziario interessato dal piano, ha manifestato la disponibilità a procedere senza attendere il processo di revisione degli investimenti. Le misure sul capitale dovrebbero essere registrate nel registro commerciale entro il 30 luglio 2025. Dopo la registrazione, le azioni esistenti scadranno e saranno rimosse dai conti di custodia da parte delle banche depositarie.
Mynaric AG (OTC:MYNA) anunció la inminente ejecución de un plan de reestructuración drástico que resultará en una reducción total del capital a cero euros, seguida de un aumento de capital en efectivo. El plan, aprobado el 28 de mayo de 2025 y confirmado por el Tribunal Local de Múnich, provocará que los accionistas actuales se queden sin compensación y la terminación de la negociación de acciones en la Bolsa de Frankfurt.
JVF-Holding GmbH, el acreedor financiero afectado por el plan, ha indicado su disposición a proceder sin esperar el proceso de revisión de inversiones. Se espera que las medidas de capital se registren en el registro mercantil el 30 de julio de 2025. Tras el registro, las acciones existentes expirarán y serán retiradas de las cuentas de custodia por los bancos custodios.
Mynaric AG (OTC:MYNA)는 전면적인 자본금 감액을 0유로로 실시한 후 현금 증자를 포함하는 대대적인 구조조정 계획을 곧 실행할 것이라고 발표했습니다. 이 계획은 2025년 5월 28일 승인되었으며 뮌헨 지방 법원에서 확인되었습니다. 이에 따라 현재 주주들은 보상 없이 주식을 잃게 되며, 프랑크푸르트 증권거래소에서 주식 거래가 종료됩니다.
이 계획에 영향을 받는 금융 채권자인 JVF-Holding GmbH는 투자 심사 절차를 기다리지 않고 진행할 준비가 되어 있다고 밝혔습니다. 자본 관련 조치는 2025년 7월 30일 상업 등기소에 등록될 예정입니다. 등록 후 기존 주식은 소멸되고 수탁 은행에 의해 보관 계좌에서 제거됩니다.
Mynaric AG (OTC:MYNA) a annoncé l'imminente mise en œuvre d'un plan de restructuration drastique qui entraînera une réduction totale du capital à zéro euro, suivie d'une augmentation de capital en numéraire. Le plan, approuvé le 28 mai 2025 et confirmé par le tribunal local de Munich, conduira à ce que les actionnaires actuels partent sans compensation et à la cessation de la cotation des actions à la Bourse de Francfort.
JVF-Holding GmbH, le créancier financier concerné par le plan, a indiqué sa volonté de procéder sans attendre le processus de révision des investissements. Les mesures de capital devraient être enregistrées au registre du commerce le 30 juillet 2025. Après cet enregistrement, les actions existantes expireront et seront retirées des comptes de garde par les banques dépositaires.
Mynaric AG (OTC:MYNA) hat die bevorstehende Umsetzung eines drastischen Restrukturierungsplans angekündigt, der eine vollständige Kapitalherabsetzung auf null Euro zur Folge haben wird, gefolgt von einer Barkapitalerhöhung. Der am 28. Mai 2025 genehmigte und vom Amtsgericht München bestätigte Plan führt dazu, dass die aktuellen Aktionäre ohne Entschädigung ausscheiden und der Handel der Aktien an der Frankfurter Börse eingestellt wird.
JVF-Holding GmbH, der durch den Plan betroffene Finanzgläubiger, hat seine Bereitschaft erklärt, ohne Abwarten des Investitionsprüfungsverfahrens fortzufahren. Die Kapitalmaßnahmen sollen am 30. Juli 2025 im Handelsregister eingetragen werden. Nach der Eintragung verfallen die bestehenden Aktien und werden von den Depotbanken aus den Verwahrkonten entfernt.
- None.
- Complete capital reduction to zero euros, resulting in total loss for current shareholders
- Termination of share trading on the Frankfurt Stock Exchange
- Existing shareholders will exit without any compensation
- Existing shares will be delisted and removed from custody accounts
Insights
Mynaric's restructuring plan wipes out existing shareholders completely - a total loss event with immediate trading termination.
Mynaric's announcement represents one of the most severe corporate actions possible for existing shareholders. The company is executing a capital reduction to zero followed by a cash capital increase that explicitly excludes current shareholders from participation rights. This restructuring mechanism, permitted under German law (StaRUG), effectively eliminates all existing equity ownership without any compensation.
The severity of this action indicates Mynaric has exhausted all other options for financial recovery. The restructuring has already received court approval from the Munich Local Court and is legally binding. JVF-Holding GmbH, the financial creditor mentioned in the announcement, appears to be taking control of the company through the subsequent capital increase.
For shareholders, this represents a complete loss of investment - their shares will literally cease to exist upon registration with the commercial register (expected July 30, 2025). Trading on the Frankfurt Stock Exchange will immediately terminate, and custodian banks will remove the worthless shares from investment accounts.
This type of zero-compensation restructuring is exceptionally rare and only implemented when a company faces such severe financial distress that bankruptcy would otherwise be inevitable. It represents the complete transfer of ownership from shareholders to creditors, with existing owners receiving nothing in return. The company will continue operations, but under entirely new ownership, with former shareholders completely eliminated from the capital structure.
MUNICH, DE / ACCESS Newswire / July 28, 2025 / Mynaric AG (OTC PINK:MYNAY)(OTC PINK:MOYFF)(ISIN:US62857X1019)(FRA:M0YN; ISIN:DE000A31C305) (the "Company") expects that the capital reduction to zero euros and the subsequent cash capital increase with exclusion of subscription rights, which are provided for in the Company's restructuring plan, will be applied for registration with the commercial register on July 30, 2025, entered shortly thereafter, and thus take effect.
As communicated in the ad hoc announcement of May 28, 2025, the majority of those affected by the plan had approved the restructuring plan submitted by the Company in accordance with the German Act on the Stabilization and Restructuring Framework for Companies ("StaRUG") at the discussion and voting meeting, whereupon the Munich Local Court confirmed the restructuring plan on the same day. The restructuring plan is now legally binding. Since then, the competent Munich tax office has also issued the binding information required under the restructuring plan with regard to the Company.
Today, JVF-Holding GmbH, as the financial creditor affected by the plan, informed the Company that it is not necessary to wait for the conclusion of the investment review process. The Company therefore assumes that the cash payment for the capital increase will now be made and the subscription certificate for the new shares will be issued. The Company will then apply for registration of the two capital measures with the commercial register.
Upon entry of the reduction of the share capital to zero euros in the commercial register, the existing shares will expire, the shareholders will leave the Company without compensation, and trading of the shares on the open market of the Frankfurt Stock Exchange will be terminated. The existing shares will be removed from the custody accounts by the custodian banks in the following days.
About Mynaric
Mynaric (FRA:M0YN)(OTC:MYNAY) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional operations in Los Angeles, California. For more information, visit mynaric.com.
Forward-Looking Statement
This release includes forward-looking statements. All statements other than statements of historical or current facts contained in this release, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations, are forward-looking statements. These statements represent our opinions, expectations, assumptions, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. Forward looking statements are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "target" "will," "would" and/or the negative of these terms or other similar expressions that are intended to identify forward-looking statements.
The forward-looking statements included in this release are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties and assumptions that are difficult to predict or are beyond our control, and actual results may differ materially from those expected or implied as forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to (i) the impact of any geopolitical tensions on the global economy, our industry and markets as well as our business, (ii) risks related to our limited operating history, our history of significant losses and the execution of our business strategy, (iii) risks related to our ability to successfully manufacture and deploy our products and risks related to serial production of our products, (iv) risks related to our sales cycle which can be long and complicated, (v) risks related to our limited experience with order processing, our dependency on third-party suppliers and external procurement risks, (vi) risks related to defects or performance problems in our products, (vii) effects of competition and the development of the market for laser communication technology in general, (viii) risks related to our ability to manage future growth effectively and to obtain sufficient financing for the operations and ongoing growth of our business, (ix) risks relating to the uncertainty of the projected financial information, (x) risks related to our ability to adequately protect our intellectual property and proprietary rights and (xi) changes in regulatory requirements, governmental incentives and market developments. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements.
The forward-looking statements included in this release are made only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Unless required under applicable law, neither we nor any other person undertakes any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release or otherwise. You should read this release with the understanding that our actual future results, levels of activity, performance and events and circumstances may materially differ from what we expect.
This release may include certain financial measures not presented in accordance with IFRS. Such financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing our financial results. Therefore, these measures should not be considered in isolation or as an alternative to loss for the period or other measures of profitability, liquidity or performance under IFRS. You should be aware that our presentation of these measures may not be comparable to similarly titled measures used by other companies, which may be defined and calculated differently.
SOURCE: Mynaric AG
View the original press release on ACCESS Newswire
FAQ
What happens to Mynaric (MYNA) shareholders after the capital reduction?
When will Mynaric's (MYNA) shares stop trading on the Frankfurt Stock Exchange?
What is the purpose of Mynaric's restructuring plan under StaRUG?
Who is the main financial creditor in Mynaric's restructuring plan?
What happens to Mynaric shares in custody accounts after the restructuring?
