Matternet goes public via reverse merger with Los Altos Ventures, $27.6M PIPE

Matternet, Inc.

Merger closed May 22, 2026; former Legacy Matternet shareholders received 2.0801 new shares per share.
Private placement of 9,212,773 shares at $3.00/share raised ~$27.6M gross, net ~$20.7M after fees.
$6.0M in bridge notes converted into ~2.5M shares at $2.40/share; holders also got warrants for 2.5M shares at $3.00 strike.
New board of directors and executive officers appointed; company intends to list common stock on OTCQB.
Lock-up agreements restrict share transfers for 6 months post-exchange listing; 3.825M shares reserved under 2026 equity plan.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Matternet, Inc.: Amended and restated certificate of incorporation.

Change: charter amendment

Exact text from the filing

At the Effective Time, we amended and restated our certificate of incorporation.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Matternet, Inc.: Amended and restated bylaws in their entirety.

Change: bylaw amendment

Exact text from the filing

At the Effective Time, we amended and restated our bylaws in their entirety.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Matternet, Inc.: Changed fiscal year from December 31 to September 30.

Change: fiscal year change

Exact text from the filing

Change in Fiscal Year At the Effective Time, we changed our fiscal year from December 31 to September 30, which is the fiscal year of Legacy Matternet.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Matternet, Inc.: Company ceased to be a shell company as a result of the merger.

Change: shell status

Exact text from the filing

Prior to the Merger, we were a "shell company" (as such term is defined in Rule 12b-2 under the Exchange Act). As a result of the Merger, we have ceased to be a shell company.

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Source: SEC EDGAR

accession 0001213900-26-062961

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