Momentus Inc. (NASDAQ: MNTS) (“Momentus” or the “Company”), a
U.S. commercial space company that offers satellite buses,
transportation, and other in-space infrastructure services, today
announced it has effectuated a 1-for-50 reverse stock split (the
“Reverse Stock Split”) of its Class A common stock (the “Common
Stock”) that will become effective on August 23, 2023, at 11:59
p.m. Eastern Time. The Company’s Common Stock will continue to
trade on the Nasdaq Global Select Market (“Nasdaq”) under the
symbol “MNTS” and will begin trading on a split-adjusted basis at
the opening of the market on August 24, 2023. The new CUSIP number
for the Common Stock following the Reverse Stock Split will be
60879E200.
The Reverse Stock Split was approved by the Company’s
stockholders at the special meeting of the stockholders on August
22, 2023. As a result of the Reverse Stock Split, every 50 shares
of Common Stock issued and outstanding will be automatically
combined into one share of Common Stock. The Reverse Stock Split
will proportionately reduce the number of outstanding shares of
Common Stock from approximately 98 million shares to approximately
2 million shares and the ownership percentage of each stockholder
will remain unchanged other than as a result of fractional shares.
The Company’s public warrants trading on Nasdaq under the existing
symbol “MNTSW,” and outstanding equity-based awards and shares or
share units issued under the Company’s benefit plans, including
applicable exercise prices, will be proportionately adjusted.
No fractional shares of Common Stock will be issued in
connection with the Reverse Stock Split. Stockholders that would
hold a fractional share of Common Stock as a result of the Reverse
Stock Split will have such fractional shares of Common Stock
rounded up to the nearest whole share of Common Stock.
To effectuate the Reverse Stock Split, the Company filed the
Certificate of Amendment to its Second Amended and Restated
Certificate of Incorporation, which was accepted for filing by the
Secretary of State of the State of Delaware on August 22, 2023.
There will be no change to the total number of authorized shares of
Common Stock as set forth in the Second Amended and Restated
Certificate of Incorporation of the Company, as amended.
Among other considerations, the Reverse Stock Split is intended
to bring the Company into compliance with the minimum bid price
requirement for maintaining the listing of its Common Stock on
Nasdaq, and to make the bid price more attractive to a broader
group of institutional and retail investors. Nasdaq requires, among
other things, that a listing company’s common stock maintain a
minimum bid price of at least $1.00 per share.
About Momentus Inc.
Momentus is a U.S. commercial space company that offers
commercial satellite buses, in-space infrastructure services,
including in-space transportation, hosted payloads and in-orbit
services.
Forward-Looking Statements
This press release contains certain statements which may
constitute “forward-looking statements” within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding Momentus or its management team’s
expectations, hopes, beliefs, intentions or strategies regarding
the future, projections, forecasts or other characterizations of
future events or circumstances, including any underlying
assumptions, and are not guarantees of future performance. The
words “may,” “will,” “anticipate,” “believe,” “expect,” “continue,”
“could,” “estimate,” “future,” “expect,” “intends,” “may,” “might,”
“plan,” “possible,” “potential,” “aim,” “strive,” “predict,”
“project,” “should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions.
Because forward-looking statements relate to the future, they
are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict and many of which are
outside of Momentus’ control. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including but not limited to: the
ability of the Company to generate revenue and raise capital in
order to continue as a going concern; the ability of the Company to
obtain licenses and government approvals for its missions, which
are essential to its operations; the ability of the Company to
effectively market and sell satellite transport services and
planned in-orbit services; the ability of the Company to protect
its intellectual property and trade secrets; the development of
markets for satellite transport and in-orbit services; the ability
of the Company to develop, test and validate its technology,
including its water plasma propulsion technology; delays or
impediments that the Company may face in the development,
manufacture and deployment of next generation satellite transport
systems; the ability of the Company to convert backlog or inbound
inquiries into revenue; changes in applicable laws or regulations
and extensive and evolving government regulations that impact
operations and business, including export control license
requirements; the ability to attract or maintain a qualified
workforce with the required security clearances and requisite
skills; product service or product or launch failures or delays
that could lead customers to use competitors’ services;
investigations, claims, disputes, enforcement actions, litigation
and/or other regulatory or legal proceedings; the Company’s ability
to comply with the terms of its National Security Agreement and any
related compliance measures instituted by the director who was
approved by the CFIUS Monitoring Agencies; the possibility that the
Company may be adversely affected by other economic, business,
and/or competitive factors; and/or other risks and uncertainties.
These are only some of the factors that may affect the
forward-looking statements contained in this press release. For a
discussion identifying additional important factors that could
cause actual results to differ materially from those anticipated in
the forward-looking statements, see the company’s filings with the
U.S. Securities and Exchange Commission including, but not limited
to, “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” and “Risk Factors” in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2022.
The Company’s filings may be accessed through the Investor
Relations page of its website, investors.momentus.space, or through
the website maintained by the SEC at www.sec.gov. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and, except as required by law, the Company assumes no obligation
and does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230822466549/en/
For media inquiries: press@momentus.space
For investor relations inquiries:
investors@momentus.space
Momentus (NASDAQ:MNTS)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Momentus (NASDAQ:MNTS)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024