Momentus closes $5 million private placement at $3.75 per share

Momentus Inc. (NASDAQ: MNTS) completed a private placement of 1,333,334 shares of common stock at $3.75 per share, raising approximately $5 million in gross proceeds before fees and expenses, according to a company statement.

The space technology company sold the shares to a single institutional investor in a transaction priced at-the-market under Nasdaq rules. A.G.P./Alliance Global Partners served as the sole placement agent for the offering.

Momentus plans to use the net proceeds for general corporate purposes, including potential debt repayment, capital expenditures, and working capital needs. The company operates in the commercial space sector, providing satellites, satellite components, and in-space transportation services.

The securities were sold under an exemption from Securities Act registration requirements and have not been registered with the Securities and Exchange Commission. Momentus agreed to file a registration statement with the SEC to cover resale of the shares sold in the offering.

The San Jose, California-based company offers satellite solutions and orbital infrastructure services to government and commercial customers for communications, missile tracking, and science missions.

You May Also Be Interested In

• CopperTech Metals launches IPO roadshow on NYSE at $16-$18 per share
• Alpha Cognition names Dr. Robert Wills as board chairman
• Leifras to acquire Swift Japan childcare operator for ¥454.6 million