During the previous session, Mynaric AG (NASDAQ: MYNA) shares displayed notable resilience, marking a remarkable 33.14% surge and culminating at a closing price of $4.66. This upturn in Mynaric’s stock value can be directly attributed to its recent accomplishment in securing a pivotal strategic contract.
Mynaric (MYNA) has formally entered into a definitive agreement with Northrop Grumman, centering on the supply of advanced optical communication terminals. This agreement falls within the purview of the United States government’s Space Development Agency’s Tranche 2 Transport Layer-Beta space vehicles program.
The contract, boasting a considerable valuation of approximately US-$ 25 million, is structured with payment milestones commencing in 2023 and will extend through the years 2024 and 2025. Product deliveries under this contract are set to commence in 2024, persisting until 2026.
In a parallel development, Mynaric has also recently inked an additional definitive agreement with an undisclosed, US-based client for the delivery of CONDOR Mk3 optical communication terminals. This particular order carries an estimated value of $6 million and includes payment milestones scheduled for the fourth quarter of 2023 and 2024, with product deliveries expected in the latter half of 2024.
MYNA has admirably clinched another contract for its flagship product, CONDOR Mk3, within the expanding market for laser communication products. This achievement underscores its preeminent standing in the industry. Mynaric’s stellar performance in comprehensive optical verification and interoperability evaluations not only reflects its past and present accomplishments but also portends promising prospects for the future.
This new agreement firmly underscores MYNA’s unwavering dedication to pioneering laser communication technology. As the industry increasingly tilts towards scalable optical communication solutions, Mynaric’s ever-expanding roster of partnerships and achievements serves as a resounding affirmation of its role as a trusted leader in the sector.
Mynaric’s leadership is set to engage in several prominent investor conferences this month. These include the Deutsche Bank 2023 Global Space Summit, scheduled for November 15, 2023, in New York. Additionally, the company will be a prominent participant in the UBS Aerospace and Defense Conference 2023, taking place on November 16-17, 2023, in Palm Beach, Florida, USA.