Nasdaq Grants Momentus Inc. Continued Listing

Rhea-AI Summary

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.

Positive

• Secured Nasdaq listing extension until April 15, 2025
• Regained compliance with $1.00 minimum bid price requirement

Negative

• Company still needs to meet additional Nasdaq listing requirements
• Required reverse stock split to maintain listing compliance

Insights

Financial Analyst

The Nasdaq decision provides Momentus with important breathing room until April 15, 2025, to meet listing requirements, particularly regarding stockholders' equity, market value, or net income standards under Rule 5550(b). The company has already addressed one major concern by executing a reverse stock split to maintain the $1.00 minimum bid price requirement.

This development is particularly critical for a micro-cap company like Momentus, with a market cap of just $16.2 million. The continued listing status is vital for maintaining market access and potential future capital raising activities. However, the extension merely buys time - the company must still demonstrate fundamental business improvements and successfully raise capital to ensure long-term compliance.

The approval reflects the panel's confidence in Momentus's compliance plan, but investors should note that meeting the April 2025 deadline will likely require significant operational progress and possible dilutive financing actions. The space economy sector's growth potential exists, but Momentus's ability to capitalize on it while maintaining listing requirements remains uncertain.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Momentus Inc. (NASDAQ: MNTS) (the “Company” or “Momentus”), a U.S. commercial space company, announced today that the Nasdaq Hearings Panel issued a letter granting the Company’s request to continue its listing on The Nasdaq Capital Market until April 15, 2025, while the Company executes its plan to regain compliance with the requirements of Nasdaq Listing Rule 5550(b).

Additionally, the Nasdaq Hearings Panel confirmed that the Company has regained compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on Nasdaq, as set forth in Nasdaq Listing Rule 5550(a)(2) as a result of the reverse stock split the Company effected on December 12, 2024.

“We thank the Nasdaq Hearings Panel for approving our request and we have been diligently executing our compliance plan,” said Momentus Chief Executive Officer John Rood. “With our exciting technology and capabilities to meet the growing needs of the space economy we are optimistic about our ability to raise capital and grow the business.”

About Momentus

Momentus is a U.S. commercial space company that offers commercial satellite buses and in-space infrastructure services including in-space transportation, hosted payloads, and other in-orbit services.

Forward-Looking Statements

This press release contains certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Momentus’ or the 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 such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at https://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/20250116182247/en/

Investors: investors@momentus.space

Media: press@momentus.space

Source: Momentus Inc.

FAQ

When did Momentus (MNTS) receive its Nasdaq listing extension until?

Momentus received a Nasdaq listing extension until April 15, 2025, as granted by the Nasdaq Hearings Panel.

What was the date of Momentus (MNTS) reverse stock split?

Momentus executed a reverse stock split on December 12, 2024.

Has Momentus (MNTS) regained compliance with Nasdaq's minimum bid price requirement?

Yes, Momentus has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share following its reverse stock split.

What Nasdaq listing rule does Momentus (MNTS) need to comply with by April 2025?

Momentus needs to regain compliance with Nasdaq Listing Rule 5550(b) by April 15, 2025.