Momentus Inc - MNTS STOCK NEWS

Momentus (NASDAQ: MNTS) has announced a $5 million offering priced at-the-market, involving the sale of 1,273,886 shares of common stock and warrants to a single institutional investor. The combined purchase price is set at $3.925, with warrants exercisable at $3.80 per share for a 5-year period.

The offering is expected to close around February 11, 2025. A.G.P./Alliance Global Partners is serving as the sole placement agent. The company plans to use the proceeds for general corporate purposes.

Additionally, Momentus will amend existing warrants for 2,228,572 shares, reducing their exercise price to $3.80 per share. This includes Class A and B September 2024 Warrants, October 2024 Warrant, and December 2024 Warrant. The amendment requires stockholder approval, with specific provisions if approval isn't obtained within six months.

Momentus (NASDAQ: MNTS) has secured an expanded contract from DARPA's Defense Sciences Office for Phase 3 of the NOM4D program, valued at approximately $3.5 million. The contract involves conducting an in-orbit demonstration of large-scale structure assembly, scheduled to launch on a SpaceX Transporter rideshare mission in early 2026.

The mission will utilize Momentus' Vigoride Orbital Service Vehicle to validate the functionality and performance of in-space assembly payload in LEO environment. This marks Momentus' fourth Vigoride mission and first supporting DARPA. The NOM4D program aims to develop foundations for building structures in space, such as solar arrays, antennas, and optics, specifically designed for space fabrication.

The company will provide full-service support, including launch services, payload integration, and in-orbit hosting. Additional capacity remains available for customers planning LEO deployment and hosted payload missions in early 2026, with capabilities to support microsatellites up to 200 kg and provide power up to 1kW.

Momentus (NASDAQ: MNTS) has been selected by the U.S. Air Force Research Labs AFWERX organization to demonstrate a new low-cost multispectral sensor suite for Rendezvous and Proximity Operations (RPO) in space. The company will conduct this demonstration under a Phase II Small Business Innovation Research (SBIR) project, following a competitive evaluation process.

The demonstration, planned for early 2026, will utilize Momentus' RPO system equipped with optical, infrared, and Lidar sensors to guide a space vehicle's approach to an uncharacterized client object. The mission will be launched on a SpaceX Transporter rideshare mission, which will also carry other Department of Defense and commercial payloads.

The project aims to reduce costs while maintaining operational safety for future in-space operations including satellite refueling, manufacturing, assembly, servicing, and debris removal. Momentus' Vigoride vehicle can support microsatellites up to 200 kg and provide power up to 1kW for missions in orbits above 500 km and below the International Space Station.

Momentus (NASDAQ: MNTS) announced that Chief Legal Officer and Corporate Secretary Paul Ney will resign effective January 27, 2025, to join the Trump Administration as Deputy Counsel to the President for National Security Affairs and National Security Council Legal Advisor.

Ney, who joined Momentus in September 2021 after serving as General Counsel of the U.S. Department of Defense, played a key role in establishing Momentus as a public company and implementing a Committee on Foreign Investment in the United States (CFIUS) National Security Agreement. His tenure at the company was marked by successful navigation of complex legal issues and government regulatory matters.

Prior to Momentus, Ney held various public service positions and worked in private law practice, bringing nearly four decades of experience. The company will announce his successor at a later date.

Momentus Inc. (NASDAQ: MNTS) has received approval from the Nasdaq Hearings Panel to maintain its listing on The Nasdaq Capital Market until April 15, 2025. The extension allows the company time to regain compliance with Nasdaq Listing Rule 5550(b). The panel also confirmed that Momentus has regained compliance with the minimum bid price requirement of $1.00 per share following a reverse stock split executed on December 12, 2024.

The U.S. commercial space company's CEO, John Rood, expressed gratitude for the panel's decision and confidence in the company's ability to raise capital and grow, citing their technology and capabilities in the space economy.

Momentus (NASDAQ: MNTS) has closed its previously announced 'reasonable best efforts' offering with a single institutional investor. The offering includes 800,000 shares of common stock and warrants to purchase up to 800,000 additional shares at a combined price of $6.20 per share and accompanying warrant, raising approximately $5 million in gross proceeds.

The warrants have an exercise price of $6.08 per share, are immediately exercisable, and will expire in five years. The company plans to use the net proceeds for general corporate purposes, including debt repayment. A.G.P./Alliance Global Partners served as the sole placement agent for the offering.

Momentus (NASDAQ: MNTS) has announced a $5 million offering priced at-the-market under Nasdaq rules. The company will sell 800,000 shares of common stock and warrants to a single institutional investor at $6.20 per share and accompanying warrant. The warrants, exercisable immediately at $6.08 per share, will expire in five years.

The offering is expected to close around December 18, 2024. Net proceeds will be used for general corporate purposes, including debt repayment. A.G.P./Alliance Global Partners is serving as the sole placement agent for this offering, which is being conducted pursuant to an effective SEC registration statement.

Momentus (NASDAQ: MNTS) has signed a contract with SpaceX for a Transporter rideshare mission scheduled for early 2026. The company will deploy its Vigoride Orbital Service Vehicle (OSV) to transport payloads from the U.S. Department of Defense and commercial customers to Low-Earth Orbit.

The Vigoride vehicle can launch and deliver microsatellites up to 200 kg and cubesats, provide average power up to 1kW, and deploy hosted payloads in orbits above 500 km and below the International Space Station. This will be Momentus' fourth Vigoride mission, and additional capacity remains available for customers planning LEO deployment and hosted payload missions.

Momentus (NASDAQ: MNTS) has announced a 1-for-14 reverse stock split of its Class A common stock, effective December 12, 2024. The split will reduce outstanding shares from approximately 31 million to 2 million, with trading on a split-adjusted basis beginning December 13, 2024 on Nasdaq under the same symbol 'MNTS'.

The reverse split was approved by stockholders on December 2, 2024. Stockholder ownership percentages will remain unchanged except for fractional shares, which will be rounded up. The company's public warrants and equity-based awards will be proportionately adjusted. This action aims to comply with Nasdaq's minimum bid price requirement of $1.00 per share and attract a broader investor base.