Welcome to our dedicated page for Momentus news (Ticker: MNTS), a resource for investors and traders seeking the latest updates and insights on Momentus stock.
Momentus Inc. (NASDAQ: MNTS) generates news as a U.S. commercial space company focused on satellites, in-space transportation, and orbital infrastructure services. Its press releases highlight developments in satellite buses, satellite components, hosted payloads, and missions flown on the company’s Vigoride Orbital Service Vehicle. News coverage often centers on how Momentus supports government and commercial customers with missions such as communications, missile tracking, and science activities in orbit.
Investors and industry followers can expect frequent updates on mission milestones and technology demonstrations. For example, the company has announced environmental testing milestones for its Vigoride‑7 Orbital Service Vehicle ahead of launch on a rideshare mission, as well as selection for the U.S. Missile Defense Agency’s SHIELD contract vehicle. These announcements describe how Vigoride and related systems may be used for missile tracking, communications, and technology demonstrations under national defense initiatives.
Momentus also issues news about technology partnerships and component development. Recent releases describe the development of an additively manufactured fuel tank in collaboration with Velo3D, scheduled for flight testing on a Vigoride mission, and a contract with DPhi Space to host the Clustergate‑2 edge computing payload to enable software and AI applications in orbit. Such updates provide insight into the company’s work on satellite components, fuel tanks, and hosted payload platforms.
Capital markets and corporate actions are another recurring theme in Momentus news. Press releases describe private placements, warrant inducement transactions, and reverse stock splits, along with the intended use of proceeds for working capital and general corporate purposes. Readers tracking MNTS news can follow these financing activities alongside operational updates, gaining a view into both the company’s in-orbit projects and its funding arrangements. Bookmarking the news feed for MNTS allows interested readers to monitor mission progress, contract awards, technology collaborations, and securities-related announcements as they are disclosed.
Momentus Inc. (NASDAQ: MNTS) has received a delisting notice from Nasdaq due to continued non-compliance with the minimum bid price requirement and failure to file recent quarterly reports. The company's stock has been trading below $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). Additionally, Momentus has not filed its Form 10-Qs for Q1 and Q2 2024, breaching Listing Rule 5250(c)(1).
Momentus plans to request a hearing before a Nasdaq Hearings Panel, which will temporarily stay the suspension of trading for 15 days. The company will seek an extended stay and submit a compliance plan to the Panel. However, there's no guarantee of continued listing or regaining compliance. The stock continues to trade under the symbol 'MNTS' on the Nasdaq Capital Market for now.
Momentus Inc. (NASDAQ: MNTS) has announced a proposed settlement for a stockholder derivative action. The U.S. District Court for the Northern District of California has issued a preliminary order approving the settlement and providing notice to stockholders. The settlement involves multiple cases, including Hanna v. Kabot, et al. and others.
The proposed settlement requires Momentus to adopt corporate governance reforms and pay lead plaintiffs' attorney's fees, expenses, and service awards. A final approval hearing is scheduled for November 21, 2024. The company has posted relevant materials, including the Stipulation of Settlement and notices, on its investor relations website.
Momentus is a U.S. commercial space company offering satellite buses, transportation, and in-space infrastructure services.
Momentus Inc. (NASDAQ: MNTS) has announced a $2.75 million private placement with a single U.S. institutional investor. The deal involves the sale of 5,000,000 shares of common stock at $0.55 per share. Additionally, the company will issue Class A and Class B Common Warrants for up to 15,000,000 shares total, with an exercise price of $0.575. The offering is expected to close around September 17, 2024.
The proceeds will be used for general corporate purposes, including payments to accounting and tax advisors, debt repayment, and working capital needs. A.G.P./Alliance Global Partners is acting as the sole placement agent. Momentus has agreed to file a registration statement with the SEC for the resale of the securities within 28 days of the agreement.
Momentus Inc. (NASDAQ: MNTS) has entered into a Collaboration Agreement with Lodestar Space to integrate a robotic arm onto a Momentus Vigoride Orbital Service Vehicle (OSV). This project aims to develop capabilities for inspecting, protecting, and repairing vital assets beyond Earth. Lodestar Space received a £800,000 grant from the UK Space Agency to fund the development of a platform-agnostic modular robotic arm for dynamic space operations.
Momentus will support the project by providing information on Rendezvous and Proximity Operations and Docking (RPOD), mission operations, and spacecraft operations. This collaboration represents another unique project for Momentus and its flight-proven Vigoride spacecraft, furthering the company's position in commercial satellite buses and in-space infrastructure services.
Momentus Inc. (NASDAQ: MNTS) has been selected to join DARPA's BRIDGES consortium, enabling the company to engage with Department of Defense customers at classified levels. This selection is based on Momentus' innovative technologies supporting the DoD's Space Superiority mission. Once facility and personnel clearances are obtained, Momentus will be able to conduct work up to the Top Secret (TS/SCI/SAP) level.
As a consortium member, Momentus will have regular meetings with Defense Department officials to align expertise, share progress, and receive guidance. The company will also have access to Sensitive Compartmented Information Facilities (SCIFs) managed by the MITRE for classified work. This opportunity allows Momentus to contribute to national defense efforts and potentially grow in the large U.S. Government classified market.
Momentus Inc. (NASDAQ: MNTS) has secured new funding through a convertible note and loan agreements to support operations and pursue funding opportunities. The company entered into a convertible note with Space Infrastructure Ventures, for up to $2.3 million, and received $500,000 in loans from directors and officers. These funds will support ongoing operations and new proposals submitted to the Space Development Agency and U.S. Space Force Space Systems Command.
Momentus successfully held its 2024 Annual Meeting of Stockholders, electing four Independent Directors to its Board. The company also resolved a previous Nasdaq deficiency regarding the Annual Meeting Requirement. Momentus is actively pursuing various government and commercial contracts, with decisions expected in the coming weeks and months.
Momentus (NASDAQ: MNTS), a U.S. commercial space company, announced it received a Nasdaq notification regarding non-compliance with Listing Rule 5250(c)(1) due to delayed filings of its Form 10-Q for the period ended March 31, 2024, and Form 10-K for the year ended December 31, 2023. This notification does not immediately affect the Company's Nasdaq listing. To regain compliance, Momentus has until June 17, 2024, to submit a compliance plan and potentially has up to October 14, 2024, to address the deficiencies. The Company aims to file the required forms within 60 days, negating the need for a formal compliance plan.
Momentus (NASDAQ: MNTS) has secured a contract from DARPA for the design and in-space demonstration of technologies under the NOM4D program to enable large-scale space structures. This initiative focuses on building structures like solar arrays and antennas directly in space using raw materials transported from Earth. Momentus will use its Vigoride Orbital Service Vehicle, known for its flexibility and payload capacity, to test these technologies. The collaboration aims to elevate the Technology Readiness Level (TRL) of these in-space manufacturing methods. CEO John Rood highlighted the significance of this partnership for advancing in-space infrastructure.
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