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Mynaric Extends Maturity of Three Existing Bridge Loans Until February 7, 2025 and Expects Additional Bridge Loan, Restructuring Loan and Application for StaRUG Proceedings

1. Mynaric extends bridge loans totaling $21.5 million to February 2025. 2. Company plans to undergo financial reorganization under German stabilization act.

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FAQ

Why Bearish?

The need for loan extensions implies financial distress, which may deter investors. Past cases show similar situations often lead to declining stock prices.

How important is it?

The loan extension and restructuring indication could significantly affect investor sentiment towards MYNA.

Why Short Term?

Immediate market reactions are likely given the financial restructuring context. Historical precedence indicates quick impacts from loan renegotiations.

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MYNA
MUNICH, DE / ACCESS Newswire / January 31, 2025 / Mynaric AG (NASDAQ:MYNA)(ISIN: US62857X1019)(FRA:M0YN)(ISIN: DE000A31C305) (the "Company") announces the extension of the maturity of its three bridge loans and the expectation to agree on a fourth bridge loan, a separate restructuring loan and an application for the initiation of a financial reorganization under the German Corporate Stabilization and Restructuring Act (Gesetz über den Stabilisierungs- und Restrukturierungsrahmen für Unternehmen ("StaRUG"). New maturity date of bridge loans The Company today entered into an amendment to its existing loan agreement with its U.S.-based lenders, which are funds affiliated with a U.S.-based global investment management firm (the "Lenders"), pursuant to which the Lenders have agreed to extend the maturity date of the three existing bridge loans in the aggregate amount of USD 21.5 million from January 31, 2025 to February 7, 2025.

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