Momentus Announces $4M Registered Direct Offering Of 4,624,280 Shares Of Common Stock At A Purchase Price Of $0.865 Per Share, Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
Momentus Inc. (NASDAQ:MNTS) announced a registered direct offering of 4,624,280 shares at $0.865 per share, aiming to raise approximately $4.0 million. The offering includes warrants with an exercise price of $0.74, exercisable immediately and expiring in five years. A.G.P./Alliance Global Partners is the placement agent for this offering, which is expected to close by March 7, 2024.
March 05, 2024 | 1:00 pm
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Momentus Inc. is raising approximately $4.0 million through a direct offering of shares and warrants, with A.G.P./Alliance Global Partners as the placement agent.
Direct offerings often lead to dilution of existing shares, which can negatively impact the stock price in the short term. The offering price being below the current market price may also suggest a perceived lower value, further pressuring the stock price.
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