Mynaric, a German maker of laser technologies for aerospace communications networks, filed on Tuesday with the SEC to raise up to $60 million in an initial public offering. The company is currently listed on the Frankfurt Stock Exchange (M0Y).
Mynaric believes that it is a leading developer and manufacturer of advanced laser communication technology for aerospace communications networks in government and commercial markets. Its technology and products are designed to provide the backbone for connectivity to link satellites, high-altitude platforms, unmanned aerial vehicles, aircraft, and the ground with secure wireless data transmission. The company aims to industrialize laser communication by focusing on developing standardized and modularized products suitable for a wide array of customers and applications, and it has benefited from advancing on the learning curve with the development of the pre-serial product versions of its CONDOR and HAWK terminals. Mynaric is currently ramping up serial production and expects to be able to increase production output from 11 terminals in 2020 to 50 terminals in 2021, targeting an annual production rate of up to 2,000 units going forward.
The Gilching, Germany-based company was founded in 2009 and booked $3 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol MYNA. Mynaric filed confidentially on June 24, 2021. Credit Suisse, Jefferies, and Canaccord Genuity are the joint bookrunners on the deal. No pricing terms were disclosed.
