PIMCO exits Mynaric (MYNA) ordinary shares, gains new equity via swap

Rhea-AI Filing Summary

Pacific Investment Management Company LLC filed Amendment No. 1 to its Schedule 13D on Mynaric AG to report that it now beneficially owns 0 Ordinary Shares, or 0% of that class. On August 14, 2025, as part of a StaRUG restructuring process, Mynaric’s existing share capital was reduced to zero and all outstanding Ordinary Shares were canceled for no value, including those previously held by PIMCO. The amendment also notes that, following a debt‑to‑equity swap, PIMCO is now the sole beneficial owner of the new equity of Mynaric, indicating that the company’s ownership structure has been completely reset through the restructuring.

Positive

• None.

Negative

• Existing Mynaric ordinary shareholders wiped out as all outstanding Ordinary Shares were canceled for no value on August 14, 2025, reducing prior equity investors’ holdings in that class to zero.

Insights

Restructuring and equity-capital analyst

Mynaric’s old equity was wiped out in a StaRUG restructuring while PIMCO received all new equity.

The disclosure shows that all existing Ordinary Shares of Mynaric AG were canceled for no value as part of a StaRUG restructuring completed on August 14, 2025. PIMCO’s beneficial ownership of this class is now 0 shares, representing 0% of that class.

At the same time, a debt‑to‑equity swap left PIMCO as sole beneficial owner of Mynaric’s new equity, meaning economic control shifted entirely to creditors involved in the swap. The impact on investors depends on how the new equity is structured and whether it later becomes broadly held.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Mynaric AG

(Name of Issuer)

Ordinary Shares, no par value

(Title of Class of Securities)

62857X101

(CUSIP Number)

Zephram Yowell
650 Newport Center Drive,
Newport Beach, CA, 92660
(949) 720-6000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/14/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 62857X101

1

Name of reporting person

Pacific Investment Management Company LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Ordinary Shares, no par value
(b)	Name of Issuer: Mynaric AG
(c)	Address of Issuer's Principal Executive Offices: BERTHA-KIPFMUELLER-STRASSE 2-8, MUNICH, GERMANY , 81249.
Item 1 Comment: This Amendment No. 1 to Schedule 13D ("Amendment No. 1") amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission on February 14, 2025 (as amended to date, the "Schedule 13D"), relating to the ordinary shares, no par value (the "Ordinary Shares"), of Mynaric AG, a company organized under the laws of the Federal Republic of Germany (the "Issuer"). Capitalized terms used herein without definition shall have the meanings set forth in the Schedule 13D.
Item 4.	Purpose of Transaction
	Cancellation of Ordinary Shares On August 14, 2025, in connection with the consummation of the previously disclosed StaRUG process, the Issuer's existing share capital was reduced to zero and all outstanding Ordinary Shares were canceled for no value, including those beneficially held by the Reporting Person. In addition, as a result of the previously described debt-to-equity swap, the Reporting Person is the sole beneficial owner of the new equity of the Issuer.
Item 5.	Interest in Securities of the Issuer
(a)	Items 11 and 13 of the cover page of this Schedule 13D are incorporated herein by reference.
(b)	Items 7 through 10 of the cover page of this Schedule 13D are incorporated herein by reference.
(c)	Except as set forth in Item 4, the Reporting Person has not engaged in any transactions in the Ordinary Shares during the past sixty days.
(d)	Not applicable.
(e)	As of August 14, 2025, the Reporting Person ceased to beneficially own Ordinary Shares in the Issuer.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Pacific Investment Management Company LLC

Signature:	/s/ Alyssa Creighton
Name/Title:	Alyssa Creighton, Senior Vice President
Date:	08/18/2025

FAQ

What does PIMCO’s Schedule 13D/A say about its Mynaric (MYNA) ownership?

The amendment shows Pacific Investment Management Company now beneficially owns 0 Ordinary Shares of Mynaric AG, representing 0% of that class, after all existing Ordinary Shares were canceled during a StaRUG restructuring completed on August 14, 2025.

What happened to Mynaric AG’s existing Ordinary Shares in the StaRUG process?

On August 14, 2025, Mynaric’s existing share capital was reduced to zero and all outstanding Ordinary Shares were canceled for no value under a StaRUG restructuring, eliminating previous holders’ interests in that specific class of equity securities.

Who now owns Mynaric AG’s new equity after the restructuring described by PIMCO?

Following a previously described debt‑to‑equity swap, Pacific Investment Management Company LLC is identified as the sole beneficial owner of the new equity of Mynaric AG, indicating creditor-backed ownership after the StaRUG restructuring process.

Why did PIMCO file Amendment No. 1 to its Schedule 13D for Mynaric (MYNA)?

PIMCO filed Amendment No. 1 to update its beneficial ownership information. It reports holding 0 Ordinary Shares, or 0% of that class, after those shares were canceled, and notes its sole beneficial ownership of Mynaric’s new equity post debt‑to‑equity swap.

What percentage of Mynaric AG’s Ordinary Shares does PIMCO now report owning?

PIMCO reports owning 0.00 shares and 0% of Mynaric AG’s Ordinary Shares. All such shares, including those it previously held, were canceled for no value when the company’s existing share capital was reduced to zero on August 14, 2025.

Did PIMCO trade Mynaric Ordinary Shares in the 60 days before August 14, 2025?

The filing states that, except for the restructuring transaction described in Item 4, Pacific Investment Management Company did not engage in any transactions in Mynaric’s Ordinary Shares during the 60 days preceding August 14, 2025.