debt
confidence high
sentiment neutral
materiality 0.60
Momentus amends loan terms, issues additional convertible note and reduces A.G.P. note
Momentus Inc.
- Loan amended: second $750K tranche conditions include closing price ≥$1.25, market cap ≥$6.7M, daily volume ≥50K shares.
- Company issues $1,012,500 junior secured convertible note and warrant for 476,470 shares of common stock.
- Conversion price on convertibles set at lesser of $1.70 and prior closing price; cash make-whole provision added.
- A.G.P. convertible note reduced to $500K from $1.2M, conversion at $1.67 per share, with 180-day lock-up.
- Company must call shareholder meeting within 90 days of note issuance to approve loan amendments.
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