Mynaric €25m credit line (2022)
Working capital
Key terms
- Borrower or issuer
- Mynaric
- Date
- 2 May 2022
- Type
- Bank facility
- Amount
- €25m (US$26m)
- Maturity
- 2023-06-30
Recorded terms
- Structure
- Credit line until 30 June 2023: €10m loan disbursed at signing, the rest drawable from 1 October 2022 in tranches of up to €5m, capped at 10% of market capitalisation
- Lenders and arrangers
- Formue Nord Fokus A/S, Modelio Equity AB (publ) and Munkekullen 5 förvaltning AB, lenders
- Country
- Germany
Parties
- Mynaric borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 13 Jun 2022 | Spire Global US$120m term loan (Blue Torch) | Bank facility | US$120m |
| 14 Jun 2022 | Maxar US$2bn amended and restated credit facilities (2022) | Bank facility | US$2bn |
| 4 Mar 2022 | Viasat US$700m term loan B | Bank facility | US$700m |
| 29 Jul 2022 | ispace ¥5bn syndicated loan (2022) | Bank facility | JPY 5bn |
| 31 Jan 2022 | Astroscale Japan ¥3bn loan from MUFG and Japan Finance Corporation (2022) | Bank facility | JPY 3bn |
More from Mynaric
| Date | Financing | Type | Amount |
|---|---|---|---|
| 14 Mar 2024 | Mynaric US$20m delayed draw facility (2024) | Bank facility | US$20m |
| 25 Apr 2023 | Mynaric US$75m secured term loan (2023) | Bank facility | US$75m |
M&A and investment involving Mynaric
| Date | Deal | Type | Value |
|---|---|---|---|
| 14 Apr 2026 | Rocket Lab acquisition of Mynaric | M&A | US$155.3m |
| 12 Nov 2021 | Mynaric IPO on Nasdaq | IPO | US$66m |
Sources
- Mynaric annual report on Form 20-F for 2021 (Credit Agreement 2022) sec.gov · 6 May 2022
About this record
Record ORB-2022-0013, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
