[424B5] Momentus Inc. Prospectus Supplement (Debt Securities)
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Per Share and Accompanying Warrants | Per Pre-Funded Warrant and Accompanying Warrants | Total(2) | |||||||
Public offering price | $1.41 | $1.40999 | $3,999,979 | ||||||
Placement Agent fees(1) | $0.0987 | $0.0986993 | $279,999 | ||||||
Proceeds to us, before expenses | $1.3113 | $1.3112907 | $3,719,980 |
(1) | We have agreed to pay the Placement Agent a cash fee equal to seven percent (7%) of the aggregate gross proceeds raised in this offering. In addition, we have agreed to reimburse certain expenses of the Placement Agent in connection with this offering. See “Plan of Distribution” on page 30. |
(2) | The above summary of offering proceeds does not give effect to any proceeds from the exercise of any Warrants being issued in this offering. |
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ABOUT THIS PROSPECTUS | ii | ||
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS | iii | ||
PROSPECTUS SUMMARY | 1 | ||
THE OFFERING | 8 | ||
RISK FACTORS | 11 | ||
USE OF PROCEEDS | 18 | ||
MARKET INFORMATION | 18 | ||
DILUTION | 19 | ||
DIVIDEND POLICY | 20 | ||
DESCRIPTION OF OUR SECURITIES | 21 | ||
DESCRIPTION OF SECURITIES WE ARE OFFERING | 26 | ||
PLAN OF DISTRIBUTION | 30 | ||
LEGAL MATTERS | 34 | ||
EXPERTS | 35 | ||
WHERE YOU CAN FIND MORE INFORMATION | 36 | ||
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE | 37 | ||
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• | Momentus’ strategy, future operations, projected capital resources and financial position, estimated revenues and losses, projected costs and capital expenditures, prospects, and plans; |
• | the potential future capabilities of Momentus’ technology, including its water plasma propulsion technology; |
• | projections of market growth and size; |
• | anticipated progress and timeline of any testing of Momentus’ technology and any launch status of Momentus’ satellite transportation systems; |
• | expansion plans and opportunities; and |
• | the outcome of any known and unknown litigation and regulatory proceedings. |
• | the ability of the Company to finance its operations; |
• | the ability of the Company to obtain licenses and government approvals for its missions, which are essential to its operations; |
• | the ability of the Company to effectively market and sell satellite transport services and planned in-orbit services; |
• | the ability of the Company to protect its intellectual property and trade secrets; |
• | the development of markets for satellite transport and in-orbit services; |
• | the ability of the Company to develop, test and validate its technology, including its water plasma propulsion technology; |
• | delays or impediments that the Company may face in the development, manufacture and deployment of next generation satellite transport systems; |
• | the ability of the Company to convert backlog or inbound inquiries into revenue; |
• | changes in applicable laws or regulations and extensive and evolving government regulations that impact operations and business, including export control license requirements; |
• | the ability to attract or maintain a qualified workforce with the required security clearances and requisite skills; |
• | level of product service or product or launch failures or delays that could lead customers to use competitors’ services; |
• | investigations, claims, disputes, enforcement actions, litigation and/or other regulatory or legal proceedings; |
• | Momentus’ compliance with Nasdaq listing requirements; |
• | the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and/or |
• | other risks and uncertainties described in this prospectus, including those under the section titled “Risk Factors.” |
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• | 357,143 shares of Common Stock issuable upon the exercise of the Investor Warrants; |
• | 6,734,080 shares of Common Stock issuable upon the conversion of the Series A Convertible Preferred Stock; |
• | 463,222 shares of Common Stock issuable upon the exercise of the SIV Warrants (as defined herein); |
• | 28,572 shares of Common Stock issuable upon the exercise of the December 2024 Lender Warrants (as defined herein); |
• | 476,470 shares of Common Stock issuable upon the exercise of the June 2025 Lender Warrant (as defined herein); |
• | 35,716 shares of Common Stock issuable upon the exercise of the Placement Agent Warrants issued in connection with a private placement transaction the Company entered into on September 15, 2024 (the “September Offering”); |
• | 800,000 shares of Common Stock issuable upon the exercise of the December Offering Warrants, and 40,000 shares of Common Stock issuable upon the exercise of the Placement Agent Warrants issued in connection with a public offering consummated by the Company on December 18, 2024 (the “December Offering”); |
• | 1,273,886 shares of Common Stock issuable upon the exercise of the February Offering Warrants, and 63,694 shares of Common Stock issuable upon the exercise of the Placement Agent Warrants issued in connection with a public offering consummated by the Company on February 11, 2025 (the “February 2025 Offering”); |
• | 2,142,858 shares of Common Stock issuable upon the exercise of the Inducement Warrants; |
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• | 16,104 shares of Common Stock issuable upon the exercise of outstanding private placement warrants to purchase shares of Common Stock at an exercise price of $8,050.00 per share; |
• | 12,322 shares of Common Stock issuable upon the exercise of outstanding publicly traded warrants to purchase shares of Common Stock at an exercise price of $8,050.00 per share; |
• | 535 shares of Common Stock issuable upon the exercise of outstanding options to purchase the Common Stock granted under the Momentus Inc. Amended and Restated 2018 Stock Plan and the Space Apprentices Enterprise Inc. 2018 Stock Plan (the “Prior Stock Plans”); |
• | 1,636 shares of Common Stock subject to unvested restricted stock units, 662 shares of Common Stock subject to vested deferred restricted stock units, 30,791 shares of Common Stock issuable upon the exercise of outstanding options to purchase the Common Stock, and 1,027,944 shares of the Common Stock reserved for future grants under the Momentus Inc. 2021 Equity Incentive Plan (the “2021 Plan”); |
• | 3,002 shares of Common Stock reserved for purchases under the Momentus Inc. 2021 Employee Stock Purchase Plan (the “ESPP”); and |
• | 129,944 shares of Common Stock subject to unvested restricted stock units and 129,064 shares of the Common Stock reserved for future grants under the Momentus Inc. 2022 Inducement Equity Plan (the |
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Pro Forma As Adjusted Amounts | |||
Assumed combined public offering price per share and accompanying Warrant | $1.41 | ||
Pro forma net tangible book value per share as of March 31, 2025 | $(1.06) | ||
Increase in pro forma net tangible book value per share attributable to this offering | $0.78 | ||
Pro forma as adjusted net tangible book value per share after giving effect to this offering | $(0.28) | ||
Dilution in pro forma as adjusted net tangible book value per share to new investors in this offering | $1.69 | ||
• | 35,716 shares of Common Stock issuable upon the exercise of the Placement Agent Warrants issued in connection with the September Offering; |
• | 357,143 shares of Common Stock issuable upon the exercise of the Investor Warrants; |
• | 463,222 shares of Common Stock issuable upon the exercise of the SIV Warrants; |
• | 28,572 shares of Common Stock issuable upon the exercise of the Lender Warrants; |
• | 800,000 shares of Common Stock issuable upon the exercise of the December Offering Warrants, and 40,000 shares of Common Stock issuable upon the exercise of the Placement Agent Warrants issued in connection with the December Offering; |
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• | 1,273,886 shares of Common Stock issuable upon the exercise of the February 2025 Offering Warrants, and 63,694 shares of Common Stock issuable upon the exercise of the Placement Agent Warrants issued in connection with the February 2025 Offering; |
• | 2,142,858 shares of Common Stock issuable upon the exercise of the Inducement Warrants; |
• | 16,104 shares of Common Stock issuable upon the exercise of outstanding private placement warrants to purchase shares of Common Stock at an exercise price of $8,050 per share; |
• | 12,322 shares of Common Stock issuable upon the exercise of outstanding publicly traded warrants to purchase shares of Common Stock at an exercise price of $8,050 per share; |
• | 561 shares of Common Stock issuable upon the exercise of outstanding options to purchase the Common Stock granted under the Prior Stock Plans; |
• | 1,652 shares of Common Stock subject to unvested restricted stock units, 662 shares of Common Stock subject to vested deferred restricted stock units, 824 shares of Common Stock issuable upon the exercise of outstanding options to purchase the Common Stock, and 24,459 shares of the Common Stock reserved for future grants under the 2021 Plan; |
• | 5,960 shares of Common Stock reserved for purchases under the ESPP; and |
• | 789 shares of Common Stock subject to unvested restricted stock units and 8,355 shares of the Common Stock reserved for future grants under the 2022 Plan. |
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• | 250,000,000 shares of the Common Stock, $0.00001 par value per share; and |
• | 20,000,000 shares of undesignated Preferred Stock, $0.00001 par value per share (“Preferred Stock”), of which 673,408 shares have been designated as the Series A Convertible Preferred Stock. |
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• | prior to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder; |
• | the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, but not the outstanding voting stock owned by the interested stockholder, (i) shares owned by persons who are directors and also officers and (ii) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or |
• | at or subsequent to the date of the transaction, the business combination is approved by the board of directors of the corporation and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder. |
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• | a classified board of directors whose members serve staggered three-year terms; |
• | the authorization of “blank check” preferred stock, which could be issued by our board of directors without stockholder approval and may contain voting, liquidation, dividend and other rights superior to the Common Stock; |
• | a limitation on the liability of, and providing indemnification to, our directors and officers; |
• | a requirement that special meetings of our stockholders can be called only by our board of directors acting by a written resolution by a majority of our directors then in office, the Chairperson of our board of directors, our Chief Executive Officer, or our Lead Independent Director; |
• | a requirement of advance notice of stockholder proposals for business to be conducted at meetings of our stockholders and for nominations of candidates for election to our board of directors; |
• | a requirement that our directors may be removed only for cause and by a two-thirds (2/3) vote of the stockholders; |
• | a prohibition on stockholder action by written consent; |
• | a requirement that vacancies on our board of directors may be filled only by a majority of directors then in office or by a sole remaining director (subject to limited exceptions), even though less than a quorum; and |
• | a requirement of the approval of the board of directors or the holders of at least two-thirds of our outstanding shares of capital stock to amend our bylaws and certain provisions of our certificate of incorporation. |
• | any breach of the director’s duty of loyalty to us or to our stockholders; |
• | acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; |
• | unlawful payment of dividends or unlawful stock repurchases or redemptions; and |
• | any transaction from which the director derived an improper personal benefit. |
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Per Share and Accompanying Warrants | Per Pre-Funded Warrant and Accompanying Warrants | Total(2) | |||||||
Offering price | $1.41 | $1.40999 | $3,999,979 | ||||||
Placement Agent’s fees(1) | $0.0987 | $0.0986993 | $279,999 | ||||||
Proceeds to us, before expenses | $1.3113 | $1.3112907 | $3,719,980 | ||||||
(1) | We have agreed to pay the Placement Agent a total cash fee equal to 7% of the gross proceeds of the offering. |
(2) | Does not include potential proceeds from the exercise of the Warrants and/or Pre-Funded Warrants for cash, if any. |
• | may not engage in any stabilization activity in connection with our securities; and |
• | may not bid for or purchase any of our securities or attempt to induce any person to purchase any of our securities, other than as permitted under the Exchange Act, until it has completed its participation in the distribution. |
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• | offer for sale, sell, pledge, or otherwise transfer or dispose of (or enter into any transaction that is designed to, or could reasonably be expected to, result in the transfer or disposition by any person at any time in the future of) any shares of Common Stock (including, without limitation, shares of Common Stock that may be deemed to be beneficially owned and shares of Common Stock that may be issued upon exercise of any options or warrants) or securities convertible into or exercisable or exchangeable for Common Stock; |
• | enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of our Common Stock, whether any such transaction is to be settled by delivery of shares of the Common Stock or other securities, in cash or otherwise; |
• | make any demand for or exercise any right or cause to be filed a registration statement, including any amendments thereto, with respect to the registration of any shares of Common Stock or securities convertible into or exercisable or exchangeable for Common Stock or any other securities of the Company; or |
• | publicly disclose the intention to do any of the foregoing. |
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• | our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on April 1, 2025 (as amended on April 9, 2025); |
• | our Definitive Proxy Statement on Schedule 14A filed with the SEC on April 28, 2025; |
• | our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the SEC on May 15, 2025; |
• | the description of our securities contained in Exhibit 4.19 to our Registration Statement on Form S-1, as filed with the SEC on April 21, 2025, and including any further amendment or report filed for the purpose of updating such description; and |
• | our Current Reports filed on Form 8-K with the SEC on January 16, 2025, January 31, 2025, February 13, 2025, March 4, 2025, March 21, 2025, March 27, 2025, April 14, 2025, April 15, 2025 (as amended on April 15, 2025), May 19, 2025, May 20, 2025, June 5, 2025, June 20, 2025, June 25, 2025, and June 30, 2025. |
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