Structuring of financing in progress to secure the safeguard period and support long-term development plan
Authorization to implement the classes of affected parties proceeding, paving the way to the Company’s debt restructuring
Paris and Boston, July 10, 2025 – 5:45 pm CEST – Mauna Kea Technologies (Euronext Growth: ALMKT), inventor of Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, today announces that it has reached a major milestone in its safeguard procedure, initiated on March 31, 2025.
The Company has obtained authorization from the court-appointed supervising judge (“juge-commissaire”) to implement a classes of affected parties proceeding (“procédure de classes de parties affectées”), a mechanism introduced by the 2021 reform of the French insolvency law. This procedure allows creditors whose prior claims and rights are affected by the plan to be grouped into different classes representing common economic interests, in order to submit a global restructuring plan to their vote. Thanks to this authorization, Mauna Kea Technologies will be able to propose a plan allowing for a significant restructuring of its liabilities, which will be submitted to a vote by the different classes in compliance with the French Commercial Code. This represents a structuring step forward to sustainably restore the Company’s financial situation.
As part of this procedure, the Company, assisted by Maître Aurélia Perdereau as judicial administrator, will finalize the constitution of these classes. The draft safeguard plan will then be submitted for their approval with a vote expected by September 2025.
Mauna Kea Technologies is also working on structuring a bridge financing to ensure business continuity during the observation period. At the same time, the Company is engaged in discussions with strategic investors and family offices to secure long-term funding to support a sustainable development plan.
Sacha Loiseau, Ph.D., Chief Executive Officer of Mauna Kea Technologies, stated: “We have just reached a critical stage in the safeguard procedure initiated on March 31, paving the way for a restructuring of the Company’s financial liabilities. In collaboration with our judicial administrator and in consultation with all stakeholders, we have worked intensively to secure the necessary resources to fully relaunch our operations.”
