Summary by Moomoo AI
Momentus Inc. completed a $5 million public offering on December 18, 2024, selling 230,000 shares of Class A common stock and 570,000 pre-funded warrants at $6.20 per share, along with 800,000 common stock purchase warrants. The common warrants have an exercise price of $6.08 per share with a five-year term.The offering was conducted with a single institutional investor through A.G.P./Alliance Global Partners as placement agent, who received a 7% cash fee and warrants to purchase 40,000 shares at $6.82 per share. The company implemented a 90-day lock-up period for executives, directors, and major shareholders.Momentus plans to use the proceeds for general corporate purposes and debt repayment. Following the offering and assuming full exercise of pre-funded warrants, the company's outstanding common stock totals 2,982,881 shares.
