Momentus Inc., a prominent commercial space enterprise, disclosed Tuesday that a transaction has been finalized with an American institutional investor involving the sale of its 4,624,280 shares for approximately $4 million. The set list price for each share is $0.865. Alongside the sale, the company has also consented to awarding the investors the privilege to purchase up to the same amount of additional shares.
These investors' warrants, priced at $0.74 each, can be exercised right away and they maintain their validity for the next five years, starting from their day of issuance. Momentus has also highlighted that some of the existing warrants, which originally allowed the purchase of a total of 3,687,000 shares at $0.96 each, will be modified so that their exercise price decreases to $0.74 per share.
The entire transaction is anticipated to be officially closed on, or around, the 7th of March. In response to this news, MNTS shares were observed to have a 12.86 percent surge, reaching $0.88 in the Nasdaq's pre-market trading.
