Momentus prices $5M At-The-Market Offering under NASDAQ rules

Momentus prices $5M At-The-Market Offering under NASDAQ rules

by Clarence Oxford

Los Angeles CA (SPX) Dec 18, 2024

Momentus Inc. (NASDAQ: MNTS) has announced it has entered into a “reasonable best efforts” offering agreement with a single institutional investor, raising approximately $5 million in gross proceeds through the purchase of 800,000 shares of common stock and warrants. The offering, priced at-the-market under NASDAQ rules, includes the sale of shares at a combined price of $6.20 per share and warrant.

Each warrant grants the investor the right to purchase an additional 800,000 shares of common stock at an exercise price of $6.08 per share. These warrants will become immediately exercisable and will remain valid for five years from the date of issuance.

The company anticipates the offering to close on or around December 18, 2024, contingent upon customary closing conditions. Net proceeds will be allocated toward general corporate purposes, including debt repayment, as Momentus continues its operational progress.

A.G.P./Alliance Global Partners is serving as the sole placement agent for the transaction.

The securities are being offered pursuant to a previously filed registration statement on Form S-1 (File No. 333-283539), which was declared effective by the Securities and Exchange Commission (SEC) on December 17, 2024. A prospectus outlining the details of the offering is available as part of the effective registration statement.

Investors may obtain copies of the final prospectus, when available, through the SEC’s website at http://www.sec.gov or from A.G.P./Alliance Global Partners at 590 Madison Avenue, 28th Floor, New York, NY 10022, by phone at (212) 624-2060, or via email at [email protected].

“This announcement does not represent an offer to sell or a solicitation to purchase these securities in any jurisdiction where such an offer or sale would be unlawful under applicable securities laws.”