Momentus raises $4.0M in registered direct offering; reprices prior warrants subject to stockholder vote

Momentus Inc.

Gross proceeds ~$4.0M from offering of 4,624,280 shares (or equivalents) at $0.865 each plus 4,624,280 warrants at $0.74, five-year term.
Existing warrants for 3,687,000 shares amended to reduce exercise price from $0.96 to $0.74, conditional on stockholder approval.
Offering expected to close March 7, 2024; proceeds for general corporate purposes including R&D and working capital.
A.G.P./Alliance Global Partners acting as sole placement agent; offering made under effective Form S-3 shelf registration.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Momentus Inc. entered into Securities Purchase Agreement with an investor (the "Investor") valued at approximately $4.0 million (effective 2024-03-04).

Action: entry
Agreement: equity purchase
Counterparty: an investor (the "Investor")
Value: approximately $4.0 million
Effective: 2024-03-04

Exact text from the filing

On March 4, 2024, Momentus Inc., a Delaware corporation (“Momentus” or the “Company”), entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with an investor (the “Investor”) for the purchase and sale to the Investor in a registered direct offering (the “Offering”) of (i) an aggregate of 1,320,000 shares of the Company’s Class A common stock, par value $0.00001 per share (the “Class A Stock”), at a purchase price of $0.865 per share of Class A Stock and one Warrant (as defined below), (ii) in lieu of Class A Stock, at the election of the Investor, pre-funded warrants (the “Pre-Funded Warrants”) to purchase 3,304,280 shares of Class A Stock, at a purchase price of $0.86499 per Pre-Funded Warrant and one Warrant, and (iii) warrants to purchase 4,624,280 shares of Class A Stock (the “Warrants”).

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Momentus Inc. filing history →

Source: SEC EDGAR

accession 0001140361-24-011869

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