Candlewood Partners Advises Mynaric AG on its Restructuring
Mynaric is a US- and European- integrated designer and manufacturer of mission critical laser communications systems for command and communication applications across space, airborne, and terrestrial operations. The company supports some of the US Government's most high-profile programs, such as the SDA's Proliferated Warfighter Space Architecture satellite constellation and serves as a strategic supplier to leading commercial Aerospace & Defense customers.
Candlewood Partners acted as the financial advisor and investment banker to assist the company in reaching a restructuring deal with the holders of its $105.5M 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 ('StaRUG') 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
This transaction underscores Candlewood's strength in restructuring advisory and cross-border advisory services and continued success advising clients in the aerospace & defense sector.
ABOUT MYNARIC AG
Mynaric is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C.
ABOUT CANDLEWOOD PARTNERS
Candlewood Partners is a Cleveland, New York, and South Florida-based boutique investment bank and advisory firm. Our focus is middle market capital raising, restructuring advisory, lender services, and M&A execution. Since 2001, Candlewood has supported the needs of private companies, small cap public companies, private equity and independent sponsors, and private credit lenders. We leverage decades of experience to maximize value for our clients, successfully navigating complex engagements across diverse industries and markets worldwide.
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