Candlewood Partners, a middle market investment bank, participated in the successful restructuring of all existing secured debt issued by Mynaric AG together with arranging a new financing to strengthen the company’s balance sheet and support the company as it scales production.
Candlewood Partners acted as the financial advisor and investment banker to assist the company in reaching a restructuring deal with the holders of its $105.5 million note, as well as raising an incremental €50 million in funding to support the operations of the business going forward.
On May 28, 2025, the restructuring plan proposed by the company in accordance with the German Corporate Stabilization and Restructuring Act was confirmed by the restructuring court, and became legally effective June 25, 2025.
The transaction results in the following for Mynaric:
- Cancellation of all outstanding equity interests and delisting on both the Frankfurt Stock Exchange and NASDAQ
- Cancellation of the full $105.5 million secured note, plus accrued interest and exit fees, in exchange for 100% of the company’s common share ownership
- An injection of €50 million in new funding by the former noteholders
