Mynaric Resolves on Capital Increase From Authorized Capital With the New Shares Being Subscribed by L3Harris

Rhea-AI Summary

Mynaric AG has increased its share capital from EUR 5,242,948 to EUR 5,652,242 by issuing 409,294 new shares, which is around 7.2% of the company's share capital. These shares were fully subscribed by L3Harris at a price of EUR 27.3675 each. The capital increase aims to strengthen the equity base and support the company's growth. In return for its investment, L3Harris will gain access to Mynaric’s test capabilities and collaborate on laser communication assets for the International Space Station.

Positive

• Share capital increased by EUR 409,294, raising funds for growth.
• L3Harris fully subscribed 409,294 new shares, signaling strong investor interest.
• Collaboration with L3Harris may enhance technological capabilities and market reach.

Negative

• None.

GILCHING, GERMANY / ACCESSWIRE / July 5, 2022 / The management board of Mynaric AG (the "Company") today resolved, with the approval of the supervisory board, to increase the Company's share capital from EUR 5,242,948.00 to EUR 5,652,242.00 by issuing 409,294 new ordinary bearer shares by partially utilizing the Authorized Capital 2021/I and with the exclusion of the shareholders' subscription rights. The new shares issued in the capital increase, which correspond to approximately 7.2% of the Company's share capital, were fully subscribed by L3Harris. The placement price for the new shares is EUR 27.3675 per ordinary share. The net proceeds from the capital increase will be used to strengthen the equity base and to support further growth of Mynaric AG.

Under the framework of the investment, L3Harris will be granted certain collaboration privileges such as access to select test capabilities of Mynaric including the Company's already established link testbeds on the ground and upcoming laser communication assets to be deployed by Mynaric on the International Space Station (ISS). Both parties intend to intensify the collaboration subject to additional investments by L3Harris.

About Mynaric 
Mynaric (NASDAQ:MYNA) (FRA:M0Y) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C.

For more information, visit mynaric.com.

SOURCE: Mynaric AG

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https://www.accesswire.com/707633/Mynaric-Resolves-on-Capital-Increase-From-Authorized-Capital-With-the-New-Shares-Being-Subscribed-by-L3Harris

FAQ

What is Mynaric's recent capital increase announcement?

Mynaric announced a capital increase from EUR 5,242,948 to EUR 5,652,242 by issuing 409,294 new shares fully subscribed by L3Harris.

What will Mynaric use the net proceeds from the capital increase for?

The net proceeds will be used to strengthen Mynaric's equity base and support further growth.

What investment did L3Harris make in Mynaric?

L3Harris subscribed to 409,294 new shares at EUR 27.3675 each as part of Mynaric's capital increase.

What collaboration privileges will L3Harris receive?

L3Harris will gain access to select test capabilities and collaborate on laser communication assets for the International Space Station.

How much of Mynaric's share capital was increased?

The share capital was increased by approximately 7.2%.