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On October 14, 2025, Momentus Inc. (the "Company") entered into a warrant inducement agreement (the "Inducement Agreement") with a holder (the "Holder") of certain existing warrants to purchase shares of common stock, par value $0.00001 per share (the "Common Stock"), of the Company. Pursuant to the Inducement Agreement, the Holder agreed to exercise for cash on October 14, 2025, (i) its warrants issued on March 21, 2025 (the "March Warrants") to purchase 2,142,858 shares of Common Stock at an exercise price of $1.43 per share, which was the closing price of the Common Stock on the Nasdaq Capital Market on October 13, 2025 and (ii) its warrants issued on July 1, 2025 (the "July Warrants" and, together with the March Warrants, the "Existing Warrants") to purchase 2,836,880 shares of Common Stock at an exercise price of $1.41 per share. Prior to entering into the Inducement Agreement, the March Warrants were immediately exercisable at an exercise price of $2.00 per share and the July Warrants were immediately exercisable at an exercise price of $1.41 per share. The Company will receive aggregate gross proceeds of approximately $7 million from the exercise of the Existing Warrants before deducting financial advisory fees and other expenses payable by the Company.
In consideration of the Holder's agreement to exercise the Existing Warrants in accordance with the Inducement Agreement, the Company agreed to issue new warrants (the "Inducement Warrants") to purchase up to 7,469,607 shares of Common Stock, which is equal to 150% of the number of shares of Common Stock issued upon exercise of the Existing Warrants (the "Inducement Warrant Shares"). The Company agreed in the Inducement Agreement to file a registration statement within 30 days of October 14, 2025, providing for the resale of the Inducement Warrant Shares by the holders of the Inducement Warrant Shares.
The Company engaged A.G.P./Alliance Global Partners ("A.G.P.") to act as its financial advisor in connection with the transactions summarized above and will pay A.G.P. an aggregate fee equal to approximately $494,500 in connection with the transactions contemplated by the Inducement Agreement and reimburse A.G.P. for legal expenses incurred in connection with the transaction not to exceed $35,000.
The Company expects to use the net proceeds from this transaction for general corporate purposes.
Posted In: MNTS
