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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.
Mynaric, a leader in laser communications products, has announced key leadership changes in its Supervisory Board. Peter Müller-Brühl, who has served on the board since July 2018, has been elected as the new Chair effective April 24, 2025. He succeeds Bulent Altan, who stepped down from both his Chair position and board membership on April 1, 2025.
The company also appointed Dr Manfred Krischke as Vice-Chair of the Supervisory Board. The current board composition includes:
- Peter Müller-Brühl (Chair)
- Dr Manfred Krischke (Vice-Chair)
- Margaret Abernathy
- Arndt Rautenberg
Müller-Brühl, previously serving as Vice-Chair, expressed his commitment to ensuring strong governance and building a resilient organization during Mynaric's transformation phase. The company, which specializes in industrialized, cost-effective, and scalable laser communications products, trades under FRA:M0YN and OTC:MYNAY.
Mynaric AG (FRA:M0YN, OTC PINK:MYNAY) announced that Bulent Altan has resigned as Chairman and Member of the Supervisory Board, effective April 1, 2025. Altan, who was elected to these positions by the General Assembly in August 2023, cited personal reasons for his departure.
The company's Supervisory Board will promptly conduct a new election for the Chairman position, and a new board member will be appointed according to the German stock act (Aktiengesetz).
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