Momentus signs 5-yr 3D printing deal with Velo3D; issues 477k common, 673k preferred

Momentus Inc.

Momentus issued 477,455 common shares and 673,408 Series A Convertible Preferred (each convertible into 10 common) to Velo3D for additive manufacturing services.
Velo3D will provide capacity equivalent to two Sapphire XC 3D metal printers for five years; Momentus has first priority on capacity use.
If Velo3D uses unused capacity for other customers, Momentus receives compensation: 20% of $3M less fees in year one, 50% of $3M less fees in subsequent years.
Momentus plans to use 3D-printed components in its satellites and sell components to space industry customers for new revenue streams.
Preferred stock has conversion price of $2.08, stated value $20.80, with ownership limitations preventing VLD from holding over 9.99% of common stock.

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