Shares of Momentus Inc. (NASDAQ:MNTS) fell 18% in pre-market trading on Friday after the company disclosed a registered direct offering of common stock intended to generate roughly $25 million in gross proceeds before fees and expenses.
The U.S. commercial space firm said it has entered into securities purchase agreements to sell 1,851,852 shares of common stock in a registered direct offering priced at-the-market under Nasdaq rules. The transaction is structured to be executed at prevailing market prices in line with Nasdaq"s at-the-market framework.
Momentus indicated the offering is expected to close on or about June 15, 2026, subject to customary closing conditions. The company stated it plans to apply the net proceeds from the sale toward working capital and other general corporate purposes.
A.G.P./Alliance Global Partners is identified as the sole placement agent for the offering.
Momentus positions itself as a provider of satellite solutions, in-space transportation and orbital infrastructure. The company supplies satellites and satellite components to both government and commercial customers for applications that include communications, missile tracking and science missions. Its services cover hosted payloads, support for in-space assembly, on-orbit servicing and refueling, and satellite transportation to specified orbits.
The announcement and the financing structure come as the company seeks to augment liquidity for operational needs. The reported decline in the stock reflects immediate market reaction to the equity raise disclosed in the filing. The timing of the closing remains contingent on customary conditions associated with registered direct offerings.
Summary
Momentus has arranged a registered direct offering to sell 1,851,852 shares at-the-market, expected to produce approximately $25 million in gross proceeds before fees. The offering is scheduled to close on or about June 15, 2026, subject to customary closing conditions, and A.G.P./Alliance Global Partners is serving as sole placement agent. The company plans to use net proceeds for working capital and general corporate purposes.