• Latest coverage follows recent news of second space contract and successful capital increase
  • Initiation study predicts strong aerospace market growth in the coming years
  • Kepler Cheuvreux joins three other major European financial services companies now covering Mynaric: Hauck & Aufhäuser, MainFirst and Edison

Munich, February 11, 2020 – Shares in Mynaric (ISIN: DE000A0JCY11 / WKN: A0JCY1) have today received a ‘buy’ rating and a EUR 72 price target from Kepler Cheuvreux, one of the leading independent European financial services company.

The start of today’s equity research coverage comes after Mynaric’s mid-January announcement that a second, multimillion Euro contract with a space customer has been secured. Additionally, in the last few days, Mynaric has also informed of a successful and heavily oversubscribed EUR 12 million capital increase – the proceeds of which will be earmarked for a further ramp-up of laser terminal production to properly meet the expected demand which today’s report details.

The initiation study, entitled “Ready for Launch”, from stock analyst Charles Bordes, details the current opportunities existing in the various aerospace network market segments that Mynaric operates in and concludes that there is a high likelihood of a market boom over the next few years.

In line with Mynaric’s recent commercial announcements regarding contracts in the space sector, the report identifies that Mynaric should benefit greatly from spaceborne constellations: a market it sees as the company’s “bread and butter”.

Today’s report is the second new coverage of the Mynaric share to begin this year and is available to professional investors directly from Kepler Cheuvreux.

In January, Hauck & Aufhäuser initiated coverage with a ‘buy’ recommendation and a price target of €75. Both Hauck & Aufhäuser and Kepler Chevreux join MainFirst (80€, ‘buy’) and Edison (no rating) in covering Mynaric.

About Mynaric

Mynaric is a manufacturer of laser communication technologies used to establish dynamic communication networks in air and space. Its laser data transmission products include ground stations and flight terminals, which allow very large quantities of data to be sent wirelessly over long distances between aircraft, autonomous drones, high altitude platforms, satellites and the ground at high data rates.

Globally, the need for fast and ubiquitous network connectivity is advancing inexorably. Data networks are today largely based on infrastructure on the ground, which cannot be expanded arbitrarily for legal, economic or logistical reasons. The future therefore calls for an expansion of the existing network infrastructure into air and space. With its wireless laser communication products Mynaric is positioned as a pioneer in this growth market.

For more information see: www.mynaric.com

Important information

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.