Mauna Kea Technologies has completed a major financial restructuring and raised €6.1 million in new capital, marking a pivotal step in the Company’s long-term plan to accelerate commercial momentum and solidify its financial foundation. The successful completion of the multistep operation follows the approval of the Company’s safeguard plan by the Paris Court of Economic Activities, enabling Mauna Kea to move forward with significantly reduced debt obligations and renewed financial clarity.
The restructuring transforms the company’s balance sheet, resulting in an increase in equity of €7.7 million and a reduction in total gross debt from €40 million to €12 million. The remaining debt is scheduled to be repaid over ten years, with the majority of repayments concentrated between the end of 2029 and the end of 2035. The extended amortization schedule is expected to be supported by future cash flow, leaving Mauna Kea with meaningful flexibility to focus on commercial expansion and operational execution.
Alongside the restructuring, the Company raised €6.1 million through a series of coordinated transactions. These included a €5.9 million capital increase reserved for a defined category of investors, a €0.2 million PrimaryBid public offering for individual investors, and a €1.7 million capital increase reserved for the European Investment Bank, which was completed through the set-off of existing claims. The Company also confirmed it will implement the free allotment of warrants to shareholders, further aligning them with future value creation initiatives.
The transactions received strong participation from Vester Finance and other long-term investors who reinforced their confidence in the Company’s strategic direction. Leadership at Mauna Kea highlighted strengthening adoption trends for the Cellvizio platform. It emphasized that the restructuring positions the Company to prioritize sales expansion and work toward achieving profitability milestones over the coming years.
With the operation now closed, the Company announced that trading of its shares on Euronext Growth will resume at market open today. The process was supported by Dechert LLP as legal counsel for the operation, with Clémence Vanacker advising on restructuring matters, and Invest Securities serving as placement agent for the reserved capital increase.
Mauna Kea Technologies continues to advance its Cellvizio platform, a real-time in vivo cellular imaging technology used across multiple medical specialties worldwide. The Company believes that the strengthened capital structure and extended cash runway, which now extends into the second half of 2027, provide a strong foundation for its next phase of growth.
KEY QUOTE:
“The completion of our financial restructuring is a major milestone that marks the beginning of a new chapter for Mauna Kea, built on much stronger foundations which comes at a time when signs of growing global adoption of our products are becoming increasingly strong. The significant support of our new equity investors combined with the strong reduction in the Company’s debt enables Mauna Kea to focus on its sales growth and achieving profitability. I want to thank our investors, advisors, employees, customers and lenders for their engagement and support.”
Sacha Loiseau, Chairman, CEO, And Founder Of Mauna Kea Technologies
