Momentus cuts note conversion price to $10
Momentus Inc. reported that it has exchanged an existing unsecured convertible promissory note held by A.G.P./Alliance Global Partners for a new note on substantially the same terms, keeping the aggregate principal amount at $500,000.
Rhea-AI Filing Summary
Momentus Inc. reported that it has exchanged an existing unsecured convertible promissory note held by A.G.P./Alliance Global Partners for a new note on substantially the same terms, keeping the aggregate principal amount at $500,000. The original note, issued on June 30, 2025, was convertible into shares of Class A common stock at a price of $29.8095 per share after a 1‑for‑17.85 reverse stock split on December 17, 2025.
Under the new exchange note dated January 9, 2026, the conversion price has been reset to $10.00 per share of common stock, which means more shares could be issued if the note is converted. The exchange was conducted under the Securities Act exemption in Section 3(a)(9), and the company has filed the new unsecured convertible promissory note as an exhibit.
Positive
- None.
Negative
- None.
8-K Event Classification
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Momentus Inc. (MNTS) change in its convertible note on January 9, 2026?
What was the previous conversion price on the Momentus (MNTS) convertible note?
How much is the Momentus (MNTS) exchange note issued to A.G.P. worth?
What is the new conversion price for the Momentus (MNTS) exchange note?
Under what securities law exemption was the Momentus (MNTS) exchange note issued?
Where can investors find the full terms of the Momentus (MNTS) exchange note?
AI-generated analysis. How Rhea-AI works. Not financial advice.