Momentus Announces $5M Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Portfolio Pulse from Happy Mohamed
Momentus Inc. (NASDAQ:MNTS) has announced a registered direct offering priced at-the-market under Nasdaq rules. The company will sell 672,948 shares of common stock at $7.43 per share to a single institutional investor, resulting in gross proceeds of approximately $5.0 million. Momentus will also issue Series A and Series B warrants to the investor, exercisable immediately at $7.18 per share.
September 07, 2023 | 12:00 pm
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Momentus Inc. is raising $5 million through a registered direct offering. This could potentially dilute existing shareholders' equity.
The direct offering will increase the number of shares in circulation, which could dilute the value of existing shares. However, the funds raised could be used to finance the company's operations, which could have a positive impact in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100