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Mynaric AG announces price range for planned IPO and publishes securities prospectus
- Specialist for laser-based communications networks expects gross IPO proceeds of up to EUR27.3 million
- Price range set at EUR45 to EUR54 per share
- Offer period expected to run from 16 October to 25 October 2017
- Initial listing on the Scale segment of the Frankfurt Stock Exchange planned for 30 October 2017
- Securities prospectus approved and published
Munich, 13 October 2017 - Mynaric AG, the specialist for innovative, laser-based communications networks in the air and in space, has announced further details of its planned initial public offering on the Frankfurt Stock Exchange (Scale segment). The price range has been set at EUR45 to EUR54 per share. The final offer price will be determined by means of a bookbuilding process. The offer comprises up to 440,000 shares from a capital increase, as well as an over-allotment option ("greenshoe") of up to 66,000 shares, also from a capital increase. Assuming that all the offered shares are sold, the issue volume is expected to be between EUR22.8 million and EUR27.3 million. Existing shareholders will not sell any shares in the initial public offering.
The offer period during which orders can be placed begins on 16 October 2017 and is expected to end on 25 October 2017 (at 12 noon for private investors and at 2 pm for institutional investors). The shares are planned to be listed in the Scale segment of the Frankfurt Stock Exchange as of 30 October 2017. All the details of the offering can be found in the securities prospectus approved today by the German financial supervisory authority BaFin and available for download from the Investor Relations section of the Mynaric website (www.mynaric.com).
Mynaric offers a key technology for the internet of the future
Mynaric was founded in 2009 by former employees of the German Aerospace Centre (DLR). The company develops cutting-edge laser technologies for building global communications networks in the air and in space. Its products for wireless data transmission include ground stations and laser terminals that make it possible to transmit very large volumes of data at rates of several gigabits per second over thousands of kilometres.
"Existing network infrastructure is reaching its limits. We need new solutions that meet the demand for increasing data volumes and security requirements. We see laser communications as a key technology for tomorrow's data transmission. With our laser technology we have an excellent position in this growth market", says Dr Wolfram Peschko, Chief Executive Officer of Mynaric AG.
The market for laser communications has significant growth potential. Most international telecommunication and data transmission currently takes place via optical, ground-based networks, such as fibre cables. In 2016, this market reported revenue of some US$ 17 billion, with forecast annual growth of 10.5 per cent.
IPO to finance company growth
Mynaric's strategy for the years ahead is to become a leading international company for the implementation of dynamic communications networks in the air and in space.
"The planned IPO opens up new opportunities for us to finance our company growth. We are seeing great interest in our products, so our objective is to move on to mass production as soon as possible," says Dr Peschko. Building a mass production operation requires investment in measuring technology and assembly facilities, for instance. The issue proceeds are therefore primarily intended for the development of an assembly and serial production facility. In addition, funds will be invested in the continued development of laser terminals for use in space, to increase the performance of the Mynaric products and to expand the company's international footprint.
The offering consists of an initial public offering in the Federal Republic of Germany (the "public offer") and a private placement for qualified investors in member states of the European Economic Area.
Shares in Mynaric AG have the international securities identification number (ISIN) DE000A0JCY11 and the German securities code (WKN) A0JCY1.
Hauck & Aufhäuser is acting as sole global coordinator and bookrunner for the IPO.
About Mynaric AG
Mynaric (formerly Vialight Communications) is a manufacturer of laser communications technologies for building dynamic communications networks in the air and in space. Its products for wireless data transmission include ground stations and laser terminals that make it possible to transmit very large volumes of data wirelessly at high speed over long distances.
Kirchhoff Consult AG
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This announcement does not contain or constitute an offer to sell nor a solicitation to buy or subscribe for securities.
This announcement is not a prospectus. Potential investors should not purchase or subscribe for any securities referred to in this announcement except on the basis of the information contained in the prospectus of the Company (including any supplements thereto) which has been approved by the German federal financial supervisory agency (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) published on the Mynaric AG website (www. mynaric.com) in the "Investor Relations" section. Copies of such prospectus are available free of charge from Mynaric AG, Friedrichshafener Straße 3, 82205 Gilching, Landkreis Starnberg, Germany.
This announcement is not an offer of securities for sale in the United States of America (the "United States"). Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Any public offering of securities to be made in the United States would be made by means of a prospectus that could be obtained from the Company and that would contain detailed information about the Company and its management, as well as the financial statements of the Company. There will be no public offer of the securities in the United States.
In the United Kingdom, this information is directed at and/or for distribution only to (i) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) high net worth companies falling within article 49(2)(a) to (d) of the Order (all such persons are collectively referred to herein as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this information or any of its contents.
Subject to certain exceptions under the Securities Act, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan.
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or, in each case, the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with our industry, as well as many other risks specifically related to the Company and its operations.
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