Momentus Raises $5 Million in At-the-Market Private Placement

Reuters01-10
Momentus Raises $5 Million in At-the-Market Private Placement

Momentus Inc., a leading U.S. commercial space company, has announced a $5 million private placement with a single institutional investor. The deal includes the sale of 925,926 shares of common stock (or equivalents) and warrants to purchase up to an additional 925,926 shares, all at a combined price of $5.40 per share and warrant. The warrants, which will have an exercise price of $5.40 per share, become exercisable after shareholder approval and will expire five years from the initial exercise date. The securities are being sold in a transaction exempt from SEC registration and will not be initially registered under the Securities Act. Momentus plans to use the proceeds for working capital and general corporate purposes, with A.G.P./Alliance Global Partners acting as the sole placement agent.

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