Mynaric secures another USD 28 million bridge loan, extends three outstanding bridge loans, agrees to USD 25 million restructuring loan and resolves on reorganization under StaRUG

EQS-Ad-hoc: Mynaric AG / Key word(s): Financing/Restructure of Company Mynaric secures another USD 28 million bridge loan, extends three outstanding bridge loans, agrees to USD 25 million restructuring loan and resolves on reorganization under StaRUG 07-Feb-2025 / 21:16 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group. The issuer is solely responsible for the content of this announcement.

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MUNICH, February 7, 2025 – Mynaric AG (NASDAQ: MYNA; ISIN: US62857X1019) (FRA: M0YN; ISIN: DE000A31C305) (the “Company”) announces the grant of a fourth bridge loan, the extension of the maturity date of its three outstanding bridge loans, agrees to a new restructuring loan and resolves on a financial restructuring by proceedings under the German Corporate Stabilization and Restructuring Act (Gesetz über den Stabilisierungs- und Restrukturierungsrahmen für Unternehmen (“StaRUG”).

Bridge Loans

The Company today entered into an amendment to its existing loan agreement with its U.S.-based lenders CO FINANCE II LVS I LLC and OC III LVS LIII LP (“U.S. Lenders”), which are funds affiliated with the U.S.-based global investment management firm Pacific Investment Management Company LLC (“PIMCO”), pursuant to which the U.S. Lenders agreed to provide a fourth bridge loan in the amount of USD 28 million. Such bridge loan is in addition to the USD 95 million originally provided under such loan agreement and the three bridge loans in the aggregate amount of USD 21.5 million that the U.S. Lenders provided in the fourth quarter of 2024 and which they now assigned to SCUR-Alpha 1797 GmbH, a German-based special purpose vehicle affiliated with PIMCO (“SPV”). The new bridge loan is to cover the expected ongoing operational and working capital needs of the Company until the anticipated time of the conclusion of the StaRUG proceedings.

The new bridge loan will be provided directly to the Company and will be guaranteed by each of its subsidiaries. The new bridge loan will bear interest at a fixed rate equal to 4.5% per annum and will mature on February 7, 2031. The availability of the new bridge loan is subject to the satisfaction of certain conditions. The Company expects to satisfy all necessary conditions and have the bridge loan available today, to meet ongoing operational and working capital needs until conclusion of the StaRUG proceedings.