Momentus Receives Nasdaq Notice of a Delisting Determination
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) ha ricevuto un avviso di delisting da Nasdaq a causa del continuo non rispetto del requisito di prezzo minimo di offerta e della mancata presentazione dei recenti rapporti trimestrali. Le azioni dell'azienda sono state scambiate a meno di $1,00 per azione per 30 giorni lavorativi consecutivi, violando la Regola di Listing 5550(a)(2) di Nasdaq. Inoltre, Momentus non ha presentato i suoi Form 10-Q per il primo e il secondo trimestre del 2024, violando la Regola di Listing 5250(c)(1).
Momentus pianifica di richiedere un'udienza davanti a un Comitato di Udienza di Nasdaq, il quale sospenderà temporaneamente la sospensione degli scambi per 15 giorni. L'azienda cercherà un ulteriore rinvio e presenterà un piano di conformità al Comitato. Tuttavia, non c'è garanzia di continuare ad essere quotati o di riacquistare la conformità. Per ora, le azioni continuano a essere scambiate con il simbolo 'MNTS' sul Nasdaq Capital Market.
Momentus Inc. (NASDAQ: MNTS) ha recibido un aviso de deslistado de Nasdaq debido al incumplimiento continuo de la requisito de precio mínimo por acción y la falta de presentación de informes trimestrales recientes. Las acciones de la empresa han estado cotizando por debajo de $1.00 por acción durante 30 días hábiles consecutivos, violando la Regla de Listado 5550(a)(2) de Nasdaq. Además, Momentus no ha presentado sus formularios 10-Q para el primer y segundo trimestre de 2024, violando la Regla de Listado 5250(c)(1).
Momentus planea solicitar una audiencia ante un Panel de Audiencias de Nasdaq, que suspenderá temporalmente la suspensión de la negociación durante 15 días. La empresa buscará una suspensión extendida y presentará un plan de cumplimiento al Panel. Sin embargo, no hay garantía de mantener el listado o de recuperar el cumplimiento. Por ahora, las acciones continúan negociándose bajo el símbolo 'MNTS' en el Nasdaq Capital Market.
Momentus Inc. (NASDAQ: MNTS)는 상장폐지 통지를 Nasdaq으로부터 받았습니다. 이는 최소 입찰가 요건을 지속적으로 준수하지 않고 최근 분기 보고서를 제출하지 않았기 때문입니다. 회사의 주식은 30영업일 연속으로 주당 $1.00 이하로 거래되고 있어 Nasdaq 상장 규정 5550(a)(2)를 위반했습니다. 또한, Momentus는 2024년 1분기 및 2분기에 대한 Form 10-Q를 제출하지 않아 상장 규정 5250(c)(1)를 위반했습니다.
Momentus는 청문회를 요청할 계획입니다 수 있으며, 이에 따라 거래 정지를 15일 동안 일시 정지합니다. 회사는 연장된 정지를 요청하고 패널에 준수 계획을 제출할 것입니다. 그러나 계속해서 상장되거나 준수 상태를 회복할 보장은 없습니다. 현재 주식은 Nasdaq Capital Market에서 'MNTS' 기호로 거래되고 있습니다.
Momentus Inc. (NASDAQ: MNTS) a reçu un avis de radiation de la part de Nasdaq en raison d'un non-respect continu du critère de prix de soumission minimum et de l'échec à soumettre des rapports trimestriels récents. L'action de la société se négocie en dessous de 1,00 $ par action depuis 30 jours ouvrés consécutifs, ce qui constitue une violation de la Règle de Cotation 5550(a)(2) de Nasdaq. De plus, Momentus n'a pas soumis ses Formulaires 10-Q pour le premier et le deuxième trimestre de 2024, enfreignant ainsi la Règle de Cotation 5250(c)(1).
Momentus prévoit de demander une audience devant un Panel d'Audiences de Nasdaq, ce qui suspendra temporairement la suspension des échanges pendant 15 jours. L'entreprise cherchera à obtenir un report prolongé et soumettra un plan de conformité au panel. Cependant, il n'y a aucune garantie de maintenir le listing ou de retrouver la conformité. Pour l'instant, l'action continue de se négocier sous le symbole 'MNTS' sur le Nasdaq Capital Market.
Momentus Inc. (NASDAQ: MNTS) hat eine Abmeldung von Nasdaq erhalten, da weiterhin die Mindestgebotsanforderung nicht eingehalten wurde und die Einreichung aktueller Quartalsberichte versäumt wurde. Die Aktien des Unternehmens wurden 30 aufeinanderfolgende Handelstage unter $1,00 pro Aktie gehandelt, was gegen die Nasdaq-Listing-Regel 5550(a)(2) verstößt. Darüber hinaus hat Momentus seine Form 10-Qs für das 1. und 2. Quartal 2024 nicht eingereicht, was einen Verstoß gegen die Listing-Regel 5250(c)(1) darstellt.
Momentus plant, ein Hearing anzufordern vor einem Nasdaq-Hearing-Panel, das die Handelsaussetzung vorübergehend für 15 Tage aussetzen wird. Das Unternehmen wird eine verlängerte Aussetzung beantragen und dem Panel einen Konformitätsplan vorlegen. Es gibt jedoch keine Garantie für einen fortgesetzten Listung oder die Wiedererlangung der Konformität. Derzeit wird die Aktie weiterhin unter dem Symbol 'MNTS' am Nasdaq Capital Market gehandelt.
- None.
- Received delisting notice from Nasdaq
- Non-compliance with minimum bid price requirement ($1.00 per share)
- Failure to file Q1 and Q2 2024 Form 10-Qs
- Risk of suspension of trading and potential delisting from Nasdaq Capital Market
Insights
This news is significantly negative for Momentus. The company is facing potential delisting from Nasdaq due to two critical issues:
- Failure to maintain the minimum bid price of
$1.00 per share - Non-filing of quarterly reports for Q1 and Q2 2024
These compliance failures indicate severe financial distress and operational challenges. The delisting threat could lead to reduced liquidity, access to capital and diminished investor confidence. While Momentus plans to request a hearing and seek an extended stay, there's no guarantee of success. The company's ability to regain compliance is uncertain, given its current financial state with a market cap of only
For investors, this situation presents significant risks. The potential delisting could trigger forced selling by institutional investors, further depressing the stock price. Moreover, the lack of timely financial reporting raises questions about the company's internal controls and overall financial health. Unless Momentus can quickly address these issues and demonstrate a viable path to compliance, the outlook remains highly uncertain and risky for shareholders.
As previously reported, on March 27, 2024, the Company received a letter (the “Bid Price Deficiency Notice”) from Nasdaq notifying the Company that, because the closing bid price for its common stock has been below
Additionally, the Notice states that since the Company has not yet filed its Form 10-Qs for the periods ended March 31, 2024 and June 30, 2024, it no longer complies with Listing Rule 5250(c)(1), and that these matters individually serve as separate and additional basis for delisting the Company’s securities from The Nasdaq Capital Market.
The Company intends to request a hearing before a Nasdaq Hearings Panel, which will automatically stay the suspension of trading in the Company’s securities for a period of 15 days from the date of the request. The Company also intends to seek an extended stay pending the hearing, although no assurance can be provided that such an extension would be granted.
The Company is working to evidence compliance with all applicable requirements for continued listing on the Nasdaq Capital Market and intends to submit a plan to that effect to the Panel as part of the hearing process; however, there can be no assurance the Panel will grant any request for continued listing or that the Company will be able to regain compliance with the applicable listing criteria within the period of time that may be granted by the Panel.
The Notices have no immediate effect on the listing or trading of the Company’s common stock and the common stock will continue to trade on the Nasdaq Capital Market under the symbol “MNTS.”
About Momentus Inc.
Momentus is a
Forward-Looking Statements
This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding the expected filing of the Company’s Form 10-K and Form 10-Q and its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the heading “Risk Factors” in the Annual Report on Form 10-K filed by the Company on June 6, 2024, as amended by that certain Annual Report on Form 10-K/A filed by the Company on September 16, 2024, as such factors may be updated from time to time in our other filings with the Commission, accessible on the Commission’s website at www.sec.gov and the Investor Relations section of our website at investors.momentus.space. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240926631146/en/
Investors: investors@momentus.space
Media: press@momentus.space
Source: Momentus Inc.
FAQ
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