Business
Momentus Announces Pricing of a $25 Million Private Placement of Common Stock Priced At-The-Market Under Nasdaq Rules with Existing Fundamental Institutional Investors
Momentus Announces Pricing of a $25 Million Private Placement of Common Stock Priced At-The-Market Under Nasdaq Rules with Existing Fundamental Institutional
About this update from Momentus Inc.
[{"type":"text","content":"\nMomentus Inc. (NASDAQ: MNTS) (“Momentus” or the “Company”) a leading U.S. commercial space firm specializing in satellite solutions, in-space transportation, and orbital infrastructure, today announced that it has entered into securities purchase agreements with existing institutional investors for the purchase and sale of 2,942,000 shares of its common stock (or common stock equivalents in lieu thereof) in a private placement priced at-the-market under Nasdaq rules. The gross proceeds from the offering are expected to be approximately $25 million, before deducting placement agent fees and other estimated offering expenses.\n\n\nThe closing of the offering is expected to occur on or about May 28, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes. Existing capital and net proceeds from this offering, positions the Company with approximately $76 million in cash, cash equivalents, and short-term investments.\n\n\n“We are pleased that our existing investors continue to support the company and our mission. We intend to use the proceeds for research and development, investment in strategic business initiatives and general corporate purposes,” said John C. Rood, Chairman and Chief Executive Officer of Momentus.\n\n\nA.G.P./Alliance Global Partners is acting as sole placement agent for the offering.\n\n\nThe offer and sale of the foregoing securities is being made in reliance on an exemption from the registration requirement under Section 4(a)(2) of the Securities Act of 1933, as amended (the \"Securities Act\"), and/or Regulation D promulgated thereunder, and applicable state securities laws, and the securities have not been and will not initially be registered under the Securities Act, or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. Pursuant to the terms of the securities purchase agreement entered into with the investors, the Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the \"SEC\") covering the resa...