Momentus (MNTS) said Monday it has signed a five-year, $15 million master services agreement with Velo3D, a metal 3D printing services provider.
Under the terms of the agreement, Velo3D will provide consulting and parts manufacturing services through its Rapid Production Solutions program.
In return, Momentus issued 477,455 shares of class A common shares and 673,408 shares of non-voting series A convertible preferred stock. Each share of preferred stock is convertible into 10 shares of class A common stock. Velo3D's ownership in Momentus will remain below 9.99% of its outstanding common stock.
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