Summary by Moomoo AI
Momentus Inc. has amended two convertible note agreements with Space Infrastructures Ventures, LLC (SIV) on November 30, 2024. The amendments accelerated the borrowing of a $1 million second tranche under the October 2024 Convertible Note to December 2, 2024, bringing the total borrowed amount to $3 million. SIV was permitted to reserve $670,000 from the second tranche to cover amounts due on December 1, 2024, under the July 2024 Convertible Note.The amendments allow SIV to convert all outstanding amounts under either note into Momentus' Class A common stock at any time. Conversion prices remain unchanged at $0.52908 for the July 2024 note and $0.5292 for the October 2024 note. Momentus issued warrants to SIV for approximately 2.7 million shares at $0.5292 per share, as required by the October 2024 note.Momentus agreed to register the resale of shares issuable upon conversion of the notes and warrants. Conversion and exercise are subject to a 9.99% beneficial ownership limit and compliance with Nasdaq rules. The company will seek shareholder approval if required for conversions or exercises.
