Momentus Inc. announced a private placement offering with a single institutional investor for the purchase and sale of shares and warrants.
The offering is priced at $5.40 per share, resulting in gross proceeds of approximately $5.0 million.
Existing warrants will be amended to a reduced exercise price of $5.40 per share subject to stockholder approval.
Private Placement Offering
Announcement of a $5.0 million private placement with a single institutional investor.
Share Price
The offering is priced at $5.40 per share, with 925,926 shares and warrants available.
Warrant Amendment
Existing warrants to be amended to a reduced exercise price of $5.40 per share.
- The net proceeds from the offering are expected to be used for working capital and general corporate purposes.
- The offer and sale of securities are being made in reliance on an exemption from the registration requirement under the Securities Act of 1933.
Momentus Inc.'s private placement offering indicates a strategic move to raise funds for operational needs and further development.