Welcome to our dedicated page for Momentus news (Ticker: MNTS), a resource for investors and traders seeking the latest updates and insights on Momentus stock.
Momentus Inc. (MNTS) is a pioneering company in the commercialization of space, specializing in in-space transportation and infrastructure technology. With a seasoned team of aerospace, propulsion, and robotics engineers, Momentus has developed a highly efficient and cost-effective in-space transport system utilizing advanced plasma water propulsion technology. The company offers critical services in the new space economy, including Space Transportation, Satellite as a Service, and In-Orbit Servicing.
Momentus has established significant partnerships with industry giants such as Lockheed Martin and NASA, as well as various private satellite companies, government agencies, and research organizations. These collaborations underscore the company's strategic importance and operational capabilities in the space sector.
One of Momentus's notable projects is the Vigoride™ transport system, which is designed to carry satellites and hosted payloads between orbits. The first Vigoride™ launch was scheduled for December 2020, marking a significant milestone in the company's journey toward enhancing space infrastructure.
Momentus Inc. continues to push the boundaries of space technology, ensuring sustainable and efficient in-space operations. For investors and stakeholders, the company represents a crucial player in the ongoing expansion of the space economy, offering innovative solutions that cater to the growing demand for space services.
Momentus (NASDAQ: MNTS) has been awarded a contract from the U.S. Defense Department's Space Development Agency (SDA) for the Hybrid Acquisition for Proliferated LEO (HALO) program. The program aims to deploy hundreds of satellites in low-Earth orbit, with Momentus being one of 19 vendors selected. The HALO program will enable rapid prototyping and spaceflight demonstrations, with prototype orders expected to launch 12-18 months after award. Momentus will leverage its Vigoride satellite bus for these missions, which is designed to accommodate diverse payloads and conduct complex operations from their San Jose mission control center.
Momentus Inc. (NASDAQ: MNTS) has been selected by NASA to provide launch services for future agency missions through its VADR (Venture-Class Acquisition of Dedicated and Rideshare) contract. This selection allows Momentus to play a important role in broadening access to space by delivering satellites like Class D, CubeSats, and higher risk-tolerant payloads to various orbits.
Momentus CEO John Rood expressed delight in being part of the VADR program and pride in the company's capabilities to provide cost-effective services using their flight-proven Vigoride spacecraft. Momentus is a U.S. commercial space company offering commercial satellite buses and in-space infrastructure services, including in-space transportation, hosted payloads, and other in-orbit services.
Momentus Inc. (NASDAQ: MNTS) has received a delisting notice from Nasdaq due to continued non-compliance with the minimum bid price requirement and failure to file recent quarterly reports. The company's stock has been trading below $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). Additionally, Momentus has not filed its Form 10-Qs for Q1 and Q2 2024, breaching Listing Rule 5250(c)(1).
Momentus plans to request a hearing before a Nasdaq Hearings Panel, which will temporarily stay the suspension of trading for 15 days. The company will seek an extended stay and submit a compliance plan to the Panel. However, there's no guarantee of continued listing or regaining compliance. The stock continues to trade under the symbol 'MNTS' on the Nasdaq Capital Market for now.
Momentus Inc. (NASDAQ: MNTS) has announced a proposed settlement for a stockholder derivative action. The U.S. District Court for the Northern District of California has issued a preliminary order approving the settlement and providing notice to stockholders. The settlement involves multiple cases, including Hanna v. Kabot, et al. and others.
The proposed settlement requires Momentus to adopt corporate governance reforms and pay lead plaintiffs' attorney's fees, expenses, and service awards. A final approval hearing is scheduled for November 21, 2024. The company has posted relevant materials, including the Stipulation of Settlement and notices, on its investor relations website.
Momentus is a U.S. commercial space company offering satellite buses, transportation, and in-space infrastructure services.
Momentus Inc. (NASDAQ: MNTS) has announced a $2.75 million private placement with a single U.S. institutional investor. The deal involves the sale of 5,000,000 shares of common stock at $0.55 per share. Additionally, the company will issue Class A and Class B Common Warrants for up to 15,000,000 shares total, with an exercise price of $0.575. The offering is expected to close around September 17, 2024.
The proceeds will be used for general corporate purposes, including payments to accounting and tax advisors, debt repayment, and working capital needs. A.G.P./Alliance Global Partners is acting as the sole placement agent. Momentus has agreed to file a registration statement with the SEC for the resale of the securities within 28 days of the agreement.
Momentus Inc. (NASDAQ: MNTS) has entered into a Collaboration Agreement with Lodestar Space to integrate a robotic arm onto a Momentus Vigoride Orbital Service Vehicle (OSV). This project aims to develop capabilities for inspecting, protecting, and repairing vital assets beyond Earth. Lodestar Space received a £800,000 grant from the UK Space Agency to fund the development of a platform-agnostic modular robotic arm for dynamic space operations.
Momentus will support the project by providing information on Rendezvous and Proximity Operations and Docking (RPOD), mission operations, and spacecraft operations. This collaboration represents another unique project for Momentus and its flight-proven Vigoride spacecraft, furthering the company's position in commercial satellite buses and in-space infrastructure services.
Momentus Inc. (NASDAQ: MNTS) has been selected to join DARPA's BRIDGES consortium, enabling the company to engage with Department of Defense customers at classified levels. This selection is based on Momentus' innovative technologies supporting the DoD's Space Superiority mission. Once facility and personnel clearances are obtained, Momentus will be able to conduct work up to the Top Secret (TS/SCI/SAP) level.
As a consortium member, Momentus will have regular meetings with Defense Department officials to align expertise, share progress, and receive guidance. The company will also have access to Sensitive Compartmented Information Facilities (SCIFs) managed by the MITRE for classified work. This opportunity allows Momentus to contribute to national defense efforts and potentially grow in the large U.S. Government classified market.
Momentus Inc. (NASDAQ: MNTS) has secured new funding through a convertible note and loan agreements to support operations and pursue funding opportunities. The company entered into a convertible note with Space Infrastructure Ventures, for up to $2.3 million, and received $500,000 in loans from directors and officers. These funds will support ongoing operations and new proposals submitted to the Space Development Agency and U.S. Space Force Space Systems Command.
Momentus successfully held its 2024 Annual Meeting of Stockholders, electing four Independent Directors to its Board. The company also resolved a previous Nasdaq deficiency regarding the Annual Meeting Requirement. Momentus is actively pursuing various government and commercial contracts, with decisions expected in the coming weeks and months.
Momentus (NASDAQ: MNTS), a U.S. commercial space company, announced it received a Nasdaq notification regarding non-compliance with Listing Rule 5250(c)(1) due to delayed filings of its Form 10-Q for the period ended March 31, 2024, and Form 10-K for the year ended December 31, 2023. This notification does not immediately affect the Company's Nasdaq listing. To regain compliance, Momentus has until June 17, 2024, to submit a compliance plan and potentially has up to October 14, 2024, to address the deficiencies. The Company aims to file the required forms within 60 days, negating the need for a formal compliance plan.
Momentus (NASDAQ: MNTS) has secured a contract from DARPA for the design and in-space demonstration of technologies under the NOM4D program to enable large-scale space structures. This initiative focuses on building structures like solar arrays and antennas directly in space using raw materials transported from Earth. Momentus will use its Vigoride Orbital Service Vehicle, known for its flexibility and payload capacity, to test these technologies. The collaboration aims to elevate the Technology Readiness Level (TRL) of these in-space manufacturing methods. CEO John Rood highlighted the significance of this partnership for advancing in-space infrastructure.
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