IPO of Mynaric AG significantly oversubscribed – issue price set at 54.00 euros per share

IPO of Mynaric AG significantly oversubscribed – issue price set at 54.00 euros per share
  • The specialist for laser-based communication networks generated gross proceeds of 27.3 million euros
  • Offered shares covered over 4 times at the placement price of 54.00 euros
  • First listing on the Frankfurt Stock Exchange in the Scale segment planned for 30 October 2017

 

Munich, 25 October 2017 – Mynaric AG, a specialist for innovative laser-based communication networks in air and in space, has set the issue price for its shares at 54.00 euros per share. The price was therefore at the upper end of the price range between 45.00 and 54.00 euros per share. At the placement price, the IPO of Mynaric AG was covered over 4 times.

The offering of Mynaric AG included up to 440,000 shares from a capital increase and an overallotment option (‘green-shoe option’) consisting of up to 66,000 shares, also from a capital increase. All 506,000 shares offered were placed. The placement volume including the green-shoe option therefore totals around 27.3 million euros.

‘The high demand for our shares shows that investors see significant growth potential in Mynaric. We have positioned ourselves excellently with promising laser technology in an exciting future market. Our technology has the potential to revolutionise the existing network infrastructure. As such, our entry to the stock market gives us new opportunities,’ said Dr Wolfram Peschko, CEO of Mynaric AG.

The proceeds generated by the IPO are intended primarily for the creation of serial production capabilities. This requires investments in measurement systems and assembly. In addition, the proceeds are to be used to fund the further development of laser terminals for space, the general improvement of the performance of the products and continued internationalisation.

The shares of Mynaric AG are expected to be traded in the scale segment of the Frankfurt Stock Exchange from 30 October 2017. The Mynaric AG shares carry the International Securities Identification Number (ISIN) DE000A0JCY11 and the securities identification number (WKN) A0JCY1.

Hauck & Aufhäuser acted as sole global coordinator and bookrunner for the IPO.

Allocation rules for the public purchase offer to private investors

Due to the oversubscription of the offer, not all purchase offers from private investors could be considered as part of the allocation.

The public offerings submitted via the XETRA subscription functionality of the Frankfurt Stock Exchange (the “Subscription Functionality”) were handled according to the following allocation key: Only offers which were submitted at the final offer price of 54.00 euros per share were allocated; subscription orders under 10 shares were not allocated; subscription orders of more than 10 shares were allocated 7.5 per cent of the respective subscription volume (at least 10 shares), whereby rounding was used.

Following allocation, investors receive a separate securities settlement note from their depositary bank. Investors can also receive additional information on the shares allocated to them from their depositary bank. The principles for the allocation of share issues to private investors, which were published by the exchange expert commission at the German Federal Ministry of Finance on 7 June 2000, were adhered to, and the allocation for subscription offerings via the Subscription Functionality was carried out according to uniform criteria.

Preferential allocation to board members of Mynaric AG or their relatives, to employees or to business partners of Mynaric AG did not occur.

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.

 

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Important information

This announcement does not contain or constitute an offer to sell nor a solicitation to buy or subscribe for securities. The offer has ended. It is no longer possible to subscribe for Mynaric AG shares via this offer. The offer in Germany was made exclusively on the basis of the published securities prospectus deposited with the Federal Financial Supervisory Authority (BaFin). The securities prospectus is available free of charge at Mynaric AG, Friedrichshafener Straße 3, 82205 Gilching, Germany, and at www.mynaric.com under the menu item “Investor Relations”.

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.