Mynaric AG (MYNA) disclosed Monday it secured a $5 million loan following an amendment to its loan agreement with US-based lenders.
The company expected to have the third bridge loan fully drawn as of Dec. 23 to meet "immediate" working capital needs.
The third loan is in addition to the $95 million provided under the agreement and two bridge loans totaling $16.5 million provided by the same lenders in October and November 2024.
The new bridge loan will mature on Jan. 31. The maturity date of the two $16.5 million bridge loans was extended to the same day.
Shares of the company jumped more than 20% in premarket activity Tuesday.
Price: 0.53, Change: +0.09, Percent Change: +20.56
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.