Momentus (MNTS) said Monday it priced an offering with an unnamed investor for the sale of nearly 1.3 million common shares and warrants at $3.925 apiece.
The warrants will be immediately exercisable at $3.80 per share and expire five years from the issuance date, according to Momentus.
The commercial space company said it expects the offering to close around Tuesday and anticipates using the net proceeds for general corporate purposes.
The company also said it will amend existing warrants for about 2.2 million shares to lower the exercise price to $3.80 per share. This applies to class A and class B September 2024 warrants, as well as the October and December 2024 warrants.
The changes are subject to stockholder approval, with alternative provisions if approval isn't secured within six months, the company said.
Shares of Momentus jumped more than 22% in recent Monday trading.
Price: 4.64, Change: +0.84, Percent Change: +22.11
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