NEW YORK, November 12, 2021 - Mynaric AG, a leading developer and manufacturer of high-speed and high-security laser communication products for air and spaceborne applications in government and commercial markets, today announced the pricing of its initial public offering of 4,000,000 American Depositary Shares (the "ADSs"), representing 1,000,000 ordinary bearer shares at a public offering price of $16.50 per ADS. In addition, Mynaric has granted the underwriters a 30-day option to purchase up to an additional 600,000 ADSs at the initial public offering price, less the underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Mynaric, assuming the underwriters fully exercise their over-allotment option, are expected to be $75.9 million.
Mynaric intends to use the net proceeds from the offering to ramp-up serial production, further advance its existing products and to expand its product portfolio, invest in additional research and development equipment, grow its sales and marketing efforts and repay outstanding amounts under a credit line.
Mynaric's ADSs are expected to begin trading on The Nasdaq Global Select Market on November 12, 2021, under the ticker symbol "MYNA." The offering is expected to close on November 16, 2021, subject to the satisfaction of customary closing conditions.
Credit Suisse and Jefferies are acting as joint lead book-running managers for the offering. Canaccord Genuity and Berenberg are acting as joint bookrunners for the offering. Beech Hill Securities is acting as co-manager for the offering.
A registration statement on Form F-1 relating to the ADSs being sold in this offering was declared effective by the Securities and Exchange Commission on November 10, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, or by telephone at 1-800-221-1037 or by email email@example.com or from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 1-877-821-7388 or by email at Prospectus_Department@Jefferies.com. Copies of the final prospectus, when available, related to the offering will be available at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Mynaric (Nasdaq: MYNA; Frankfurt Stock Exchange: M0Y) is pioneering 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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Mynaric, including those set forth in the Risk Factors section of the registration statement, the preliminary prospectus included therein, and, when available, the final prospectus. Copies are available on the SEC's website at www.sec.gov. Mynaric undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.