Mynaric AG expands loan facility by $20 million By Investing.com

Mynaric AG expands loan facility by  million By Investing.com

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MUNICH – Mynaric AG (NASDAQ:MYNA), a leader in laser communications, has amended its loan agreement with U.S.-based lenders to increase its borrowing capacity by $20 million, utilizing a delayed draw facility. This additional liquidity, which is expected to be effective today, will be available until September 2025 and will support the company’s working capital requirements and general corporate purposes.

The delayed draw facility will be on similar terms as the existing term loan facility. It will be guaranteed by Mynaric and its subsidiaries and secured by a security interest in nearly all of the borrower’s and guarantors’ assets. The interest rate for the delayed draw facility will match the existing term loan, with a minimum rate of 2%, plus a margin of 10% or 9%, depending on the rate chosen by the borrower.

Mynaric, headquartered in Munich with locations in Los Angeles and Washington, D.C., specializes in producing optical communications terminals for various applications, including air, space, and mobile platforms. These networks enable high data rates and secure data transmission over long distances.

The company’s decision to amend its loan agreement comes amid its efforts to bolster its financial position and ensure sufficient funding for its operational and growth strategies. However, like all forward-looking statements, this financial move carries risks and uncertainties that could affect the company’s future financial condition and operations, including the impact of global economic conditions and market competition.

The information in this article is based on a press release statement from Mynaric AG.

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