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Mynaric increases loan capacity by $20 million to $95 million
By Mary-Katherine Stinson
Lexington, Ky., March 14 – Mynaric AG has upsized its borrowing capacity, according to a press release.
The company amended its existing $75 million loan agreement with U.S.-based lenders to provide a $20 million delayed-draw facility. It is being provided on substantially the same terms as the company’s existing term facility.
The borrower will be the company’s wholly owned subsidiary, Mynaric USA Inc. Loans drawn will be guaranteed by the company and each of its subsidiaries.
The facility is available until September 2025.
Borrowings will bear interest at the same applicable rate as the existing term loan facility, which is SOFR plus 1,000 basis points, subject to a 2% floor. Up to 300 bps of interest payable on or prior to the first interest payment date occurring on or after April 25, 2025 may be paid in kind by increasing the principal amount of the loans.
Proceeds are expected to be used as needed for working capital and other general corporate purposes. There is a required payment of a 2% original issue discount with each drawdown.
Mynaric is a Munich-based manufacturer of laser communication products for space, air and ground applications.
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