Mynaric seeks $16.5M loan extension, may reorganize under German law, risking shareholder losses.
Mynaric, a Munich-based laser communication company, is negotiating with its main lender for a $16.5 million loan extension and additional funding to support its operations. The lender’s support is conditional on Mynaric initiating a financial reorganization under Germany’s Corporate Stabilization and Restructuring Act (StaRUG). This could lead to shareholders losing part or all of their investment. Mynaric has postponed its annual general meeting.
4 months ago
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