Momentus announces $5M offering priced at-the-market under Nasdaq rules

Momentus (MNTS) announced the pricing of its “reasonable best efforts” offering with a single institutional investor for the purchase and sale of 800,000 shares of common stock and warrants to purchase up to 800,000 shares of common stock at a combined offering price of $6.20 per share and accompanying warrant, priced at-the-market under Nasdaq rules. The company expects to receive aggregate gross proceeds of approximately $5M, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants. The warrants will have an exercise price of $6.08 per share, will be exercisable immediately and will expire five years from the issuance date. The company intends to use the net proceeds from the offering for general corporate purposes, including repayment of debt. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.