Corporate ActionMay 29, 2026, 04:58 PM
Momentus Raises $25M in Private Placement of Stock & Warrants
AI Summary
Momentus Inc. announced the closing of a private placement, raising approximately $25 million in gross proceeds from existing institutional investors. The offering included 2,173,420 shares of Class A common stock at $8.50 per share and pre-funded warrants for up to 768,580 shares. The company intends to use the net proceeds for general corporate purposes, including debt repayment, capital expenditures, and working capital, positioning them with approximately $76 million in cash and equivalents.
Key Highlights
- Raised approximately $25 million in gross proceeds from the private placement.
- Issued 2,173,420 shares of Class A common stock at $8.50 per share.
- Issued pre-funded warrants to purchase up to 768,580 shares of common stock.
- Pre-funded warrants exercisable at $0.00001 per share, with a 9.99% beneficial ownership limit.
- Net proceeds to be used for general corporate purposes, including debt repayment and working capital.
- Company's cash, cash equivalents, and short-term investments are approximately $76 million post-offering.
- Agreed to file a resale registration statement within 10 trading days, effective within 15 calendar days.
- Obligated to pay 1.5% monthly liquidated damages for registration statement delays.
Price Impact
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