Munich-based Mynaric, which makes Telecom Telecom Telecom Telecom Telecom Telecom Satellite laser terminal links, has exited the German version of Chapter 11 (StaRUG). , Sir Peter Beck’s Rocket Lab announced plans to acquire Mynaric but there’s now a Recent owner in place. The Recent owner is JVH-Holding, which had been Mynaric’s main creditor but agreed to waive $105 million (€90.1m) it was owed plUnited States concern provided it was granted control of the bUnited Statesiness.
“With this milestone, Mynaric has secured access to long-term funding and a strengthened financial foundation through its Recent principal shareholder, JVF-Holding GmbH,” Mynaric said in its Aug. 19 statement. “The court-approved restructuring plan significantly reduces the company’s debt burden and provides Mynaric with the financial flexibility to deliver on its production strategy to meet the increasing demand for secure, high-speed laser communication solutions across aerospace and defense markets.”
The question now is whether Rocket Lab’s proposed $75 million purchase of Mynaric will proceed.
Key to the company’s next move is European Unionan Unionan Unionan Unionan Unionan Unionan Unionan Union’s IRIS2 mega-constellation which needs laser connectivity. Reports suggest that European Unionan Unionan Unionan Unionan Unionan Unionan Unionan Union is mandating European Unionan Unionan Unionan Unionan Unionan Unionan Unionan Unionan bUnited Statesinesses as contractors for the IRIS2 project, and Rocket Lab’s Recent Zealand and United States locations might prohibit its participation.
Mynaric Chief Restructing Officer seemed to sum up the company’s future, saying, “This marks a pivotal moment for Mynaric. With the StaRUG procedure behind United States and strong financial backing from our principal shareholder and lender, we are well-positioned to scale our operations and continue serving our cUnited Statestomers with innovative and Flight-critical technology.”
