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MUNICH, GERMANY - Mynaric (ETR:M0YNn) AG, a producer of laser communications terminals with a market capitalization of $8.9 million, has been notified of its impending delisting from the Nasdaq Stock Market, effective as of the opening of business on February 18, 2025. According to InvestingPro data, the company’s stock has experienced significant volatility, falling 88% over the past year. This move follows the company’s decision not to appeal the delisting notice received on February 10, 2025, which was issued as a consequence of the initiation of financial restructuring proceedings under German law.
The German-based company, with additional locations in Los Angeles and Washington, D.C., disclosed on Monday that it had entered into a restructuring process under the German Corporate Stabilization and Restructuring Act (StaRUG Proceeding), which was reported to the Munich Local Court - Restructuring Court. InvestingPro’s financial health assessment indicates a weak overall score of 0.33, with data showing the company is quickly burning through cash. The restructuring was approved by Mynaric’s management and supervisory boards on February 7, 2025.
According to the delisting notice, Mynaric’s American Depositary Shares (ADS) representing its ordinary shares will be removed from Nasdaq due to multiple non-compliances with Nasdaq’s listing rules. These include failure to maintain a minimum market value of listed securities, failure to file an interim balance sheet and income statement on time, not holding an annual shareholder meeting within the required timeframe, and not meeting the minimum closing bid price per share.
Mynaric, listed on Nasdaq under the ticker MYNA and on the Frankfurt Stock Exchange under the ticker M0YN, specializes in providing high-data-rate, secure, long-distance data transmission solutions for wireless terrestrial, mobility, airborne, and space-based applications through its optical communications terminals.
The company’s decision not to appeal the delisting determination indicates acceptance of Nasdaq’s decision, which will lead to the suspension of trading of Mynaric’s ADS on Nasdaq. The Nasdaq will subsequently file a Form 25-NSE with the Securities and Exchange Commission to formally remove Mynaric’s ADS from listing and registration.
This news is based on a press release statement from Mynaric and reflects the current status of the company’s compliance with stock market regulations. Despite the uncertainties, InvestingPro analysts project a 42% revenue growth for the current fiscal year, though the company is not expected to achieve profitability. Discover more insights and 12 additional ProTips about Mynaric’s financial outlook in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Mynaric AG, the Munich-based communication services provider, has been navigating several significant changes. The company announced its delisting from the NASDAQ stock exchange, marking a significant shift in its market participation. To manage its financial challenges, Mynaric AG has secured a bridge loan, providing immediate short-term capital to support its operations and restructuring efforts under Germany’s StaRUG proceedings. Additionally, the company has extended its loan agreement maturity, providing additional financial flexibility.
However, Mynaric AG has also been dealing with compliance issues, receiving a deficiency letter from NASDAQ and facing challenges with Nasdaq’s listing rules. The specifics of these compliance issues were not disclosed, but such notices typically relate to NASDAQ’s listing requirements. The company is expected to submit a plan to regain compliance and avoid potential delisting.
These are recent developments for Mynaric AG. Investors and stakeholders are advised to monitor the company’s filings and public disclosures for further updates on its financial position and strategic initiatives.
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