Momentus Inc. (MNTS) entered into a Securities Purchase Agreement with institutional investors for a private placement, raising approximately $25 million in gross proceeds. The placement, which closed on May 28, 2026, consisted of Class A common stock and pre-funded warrants. The company intends to use the net proceeds for general corporate purposes.
Key Details
- Transaction: The company sold 2,173,420 shares of Class A common stock at $8.50 per share and pre-funded warrants to purchase 768,580 shares of common stock.
- Proceeds & Timeline: The private placement generated aggregate gross proceeds of approximately $25 million before deducting fees and expenses. The agreement was signed on May 26, 2026, and the transaction closed on May 28, 2026.
- Warrant Terms: The pre-funded warrants have an exercise price of $0.00001 per share and do not expire. The placement agent, A.G.P./Alliance Global Partners, also received warrants to purchase 147,100 shares at an exercise price of $9.35 per share.
- Use of Funds: Net proceeds will be used for general corporate purposes, which may include repayment of debt, capital expenditures, and funding working capital needs.