Momentus announces $50M at-the-market equity program

Sep. 28, 2022 5:55 PM ETMomentus Inc. (MNTS)By: Jessica Kuruthukulangara, SA News Editor1 Comment
  • Momentus (NASDAQ:MNTS) on Wednesday announced an equity distribution agreement providing for an at-the-market equity offering program.
  • MNTS may, during the three-year term of the distribution deal, offer and sell class A shares that would result in gross proceeds of up to $50M.
  • Net proceeds that MNTS receives from the ATM program, if any, will be used for continued development of the Vigoride orbital service vehicle, future enhancements to Vigoride, and general corporate purposes.
  • The timing and extent of the ATM program will be at MNTS' discretion.
  • Accordingly, proceeds under the program could be significantly less than $50M.

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