Momentus Inc Stock Price, News & Analysis

Momentus Inc. (NASDAQ: MNTS) has successfully completed extensive ground testing of solar arrays for its upcoming Vigoride Orbital Service Vehicle, set to launch on SpaceX Transporter-6 in December 2022. The tests aimed to ensure effective deployment and functionality, addressing previous issues encountered during the first demonstration mission. The next mission will include innovative customer payloads and a new propulsion system designed for enhanced performance.

Momentus Inc. (NASDAQ: MNTS) has announced an equity distribution agreement to implement an at-the-market equity offering program, allowing them to sell up to $50 million in Class A common stock over three years. Sales will be facilitated by Stifel, Nicolaus & Company. Proceeds are intended for the development of the Vigoride orbital service vehicle and general corporate purposes, but the actual amount raised may be lower than the maximum. The offering is registered under the effective registration statement with the SEC, which allows capital raising of up to $200 million.

Momentus Inc. (NASDAQ: MNTS) has announced the successful completion of vibration testing for its Vigoride Orbital Service Vehicle, which is set to launch on SpaceX's Transporter-6 mission in December 2022. This testing represents a crucial milestone in preparation for upcoming missions. The vehicle, which features enhanced payload capacity and improvements following learnings from its first mission, will carry payloads for clients such as Caltech and Qosmosys, while also testing its water-based propulsion system.

Sidus Space, Inc. (NASDAQ:SIDU) partners with Momentus Inc. (NASDAQ:MNTS) under a memorandum of understanding (MOU) to explore launching LizzieSat™ satellites using Momentus’ Vigoride Orbital Service Vehicle. The collaboration aims to enhance mission versatility, allowing Sidus to provide power and data to LizzieSat™ in orbit. The companies are interested in four potential mission launches initially and will seek joint payload opportunities and government solicitations. Sidus aims to improve customer value and flexibility in satellite missions with this partnership.

Momentus Inc. (NASDAQ: MNTS) has released its fifth Mission Update for the Vigoride mission launched on May 25. Since the last update on August 3, the company successfully deployed additional payloads, including the SelfieSat, which will capture images of Earth. Momentus has now deployed eight customer satellites in low Earth orbit and plans to continue deploying remaining payloads. The company has agreements with SpaceX for further Vigoride launches throughout 2023, reflecting its ongoing efforts to expand in-space infrastructure services.

Momentus Inc. (NASDAQ: MNTS) announced its participation in two major space events: the World Satellite Business Week from September 12-16 and the International Astronautical Congress from September 18-22, both in Paris, France. CEO John Rood will discuss in-space logistics on September 14. Momentus aims to promote its vision for space infrastructure, focusing on last-mile delivery and sustainability solutions. The company successfully launched its Vigoride vehicle earlier this year and plans another launch in November.

Momentus Inc. (NASDAQ: MNTS) has granted inducement awards to 30 new employees, totaling 1,269,645 restricted stock units (RSUs) worth approximately $2.55 million, based on a share price of $2.01 as of August 22, 2022. These awards are designed to attract talent and are contingent on the employees' continued service, featuring a three- or four-year vesting schedule. Momentus focuses on in-space infrastructure services, including transportation and payload hosting, powered by its innovative water plasma propulsion technology.

Momentus Inc. (NASDAQ: MNTS) has announced a service agreement with LuxSpace to transport its Triton-X small satellite platform aboard a Vigoride Orbital Transfer Vehicle in 2023. This mission aims to demonstrate key Triton-X subsystems. LuxSpace's CEO highlighted the importance of the launch for validating technologies within the Triton-X product line. Momentus CEO expressed commitment to support LuxSpace, emphasizing the role of hosted payloads in providing operational efficiency. The Triton-X platform is designed for small LEO satellites, leveraging over 15 years of heritage from previous designs.

Momentus Inc. (NASDAQ: MNTS) reported its Q2 2022 financial results, marking significant milestones in its space services initiative. The company has cleared regulatory hurdles and successfully launched its Vigoride 3 vehicle, deploying seven customer satellites to low Earth orbit. Momentus plans to incorporate lessons learned from this launch into future missions, with additional launches scheduled for late 2022 and beyond. The company aims to reduce its cash burn rate and extend its financial runway into 2023 by cutting overhead and delaying R&D projects.