Momentus (MNTS) said Monday that it priced an offering with a single investor of about 2.8 million shares and warrants to purchase an equal number of shares at a combined price of $1.41, for gross proceeds of about $4 million.
Momentus said the warrants can be exercised immediately for $1.41 a share and will expire after five years from the initial exercise date.
The company said it expects to close the offering around Tuesday and net proceeds would be used for general corporate purposes, working capital, capital expenditures, debt repayment and refinancing.
Shares of the company were up 8.5% in recent trading.
Price: 1.53, Change: +0.12, Percent Change: +8.51
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.