SCHEDULE: Mynaric AG Shares Canceled in Debt-to-Equity Swap

Mynaric AG's existing ordinary shares were canceled for no value as part of a StaRUG process, with Pacific Investment Management Company LLC becoming the sole owner of new equity through a debt-to-equity swap.

Summary

• This filing is Amendment No. 1 to the Schedule 13D originally filed on February 14, 2025, concerning Mynaric AG's ordinary shares.
• On August 14, 2025, Mynaric AG's existing share capital was reduced to zero.
• All outstanding Ordinary Shares were canceled for no value, including those previously held by Pacific Investment Management Company LLC (PIMCO).
• This action was a result of a previously disclosed StaRUG process.
• Pacific Investment Management Company LLC (PIMCO) is now the sole beneficial owner of the new equity of Mynaric AG, following a debt-to-equity swap.

Sentiment

Score: 2

Explanation: Extremely negative for prior equity holders due to complete share cancellation for no value, but represents a financial restructuring and new ownership for the company.

Positives

• Pacific Investment Management Company LLC (PIMCO) converted debt into equity, becoming the sole beneficial owner of the new equity, which may provide a more stable financial foundation for the company moving forward.

Negatives

• All existing Ordinary Shares of Mynaric AG were canceled for no value.
• Previous shareholders of Mynaric AG's Ordinary Shares experienced a complete loss of their investment.

Risks

• The company underwent a StaRUG process, indicating significant financial distress and a need for a comprehensive restructuring.
• Existing shareholders faced a complete loss of their investment due to the cancellation of all outstanding shares for no value.

Future Outlook

The company has completed a significant financial restructuring, including a debt-to-equity swap, which has resulted in new equity ownership by Pacific Investment Management Company LLC.

Industry Context

N/A

Stakeholder Impact

• Shareholders: Existing shareholders lost their entire investment as all outstanding Ordinary Shares were canceled for no value.
• Creditors: Pacific Investment Management Company LLC (PIMCO), as a creditor, converted debt into equity, becoming the sole owner of the new equity.

Key Dates

Recommendation

Existing ordinary shares were canceled for no value, resulting in a complete loss for prior shareholders. This effectively makes the old shares worthless.

Keywords

Mynaric AG, Pacific Investment Management Company LLC, PIMCO, Schedule 13D, Debt-to-Equity Swap, Share Cancellation, StaRUG Process, Corporate Restructuring, Equity Ownership