Momentus Inc. Faces Potential Delisting Concerns
Ticker: MNTSW · Form: 8-K · Filed: May 30, 2024 · CIK: 1781162
| Field | Detail |
|---|---|
| Company | Momentus INC. (MNTSW) |
| Form Type | 8-K |
| Filed Date | May 30, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
Related Tickers: MNTS
TL;DR
Momentus might get kicked off Nasdaq - big trouble brewing.
AI Summary
Momentus Inc. filed an 8-K on May 30, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates potential issues with meeting Nasdaq's continued listing requirements, although specific details regarding the rule or standard were not elaborated upon in the provided text. The company was formerly known as Stable Road Acquisition Corp. and incorporated in Delaware.
Why It Matters
This filing signals potential financial or operational distress for Momentus Inc., which could significantly impact its stock value and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a severe indicator of financial or operational instability.
Key Players & Entities
- Momentus Inc. (company) — Registrant
- Nasdaq (company) — Listing Exchange (implied)
- Stable Road Acquisition Corp. (company) — Former Company Name
- Delaware (jurisdiction) — State of Incorporation
FAQ
What specific listing rule or standard is Momentus Inc. failing to meet?
The provided text of the 8-K filing does not specify the exact listing rule or standard that Momentus Inc. is failing to satisfy.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is May 23, 2024.
When was Momentus Inc. formerly known as?
Momentus Inc. was formerly known as Stable Road Acquisition Corp.
In which state was Momentus Inc. incorporated?
Momentus Inc. was incorporated in Delaware.
What is the principal executive office address for Momentus Inc.?
The principal executive offices are located at 3901 N. First Street, San Jose, California, 95134.
Filing Stats: 663 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-05-30 16:15:39
Filing Documents
- ef20030297_8k.htm (8-K) — 32KB
- ef20030297_ex99-1.htm (EX-99.1) — 7KB
- image00001.jpg (GRAPHIC) — 5KB
- 0001140361-24-028117.txt ( ) — 222KB
- mnts-20240523.xsd (EX-101.SCH) — 4KB
- mnts-20240523_def.xml (EX-101.DEF) — 17KB
- mnts-20240523_lab.xml (EX-101.LAB) — 26KB
- mnts-20240523_pre.xml (EX-101.PRE) — 20KB
- ef20030297_8k_htm.xml (XML) — 6KB
01
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On May 23, 2024, Momentus Inc., a Delaware corporation (the "Company"), received a notice (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq") stating that, since the Company has not yet filed its Form 10-Q for the period ended March 31, 2024, and because the Company has not filed its Form 10-K for the year ended December 31, 2023, the Company does not comply with Nasdaq's Listing Rule 5250(c)(1) for continued listing. This notification has no immediate effect on the listing of the Company's shares on Nasdaq. However, if the Company fails to timely regain compliance with the Nasdaq listing rules, the Company's common stock will be subject to delisting from Nasdaq. The Company may submit a plan to regain compliance with these requirements by June 17, 2024. Any staff exception to allow the Company to regain compliance, if granted, will be limited to a maximum of 180 calendar days from the Form 10-K's due date, or until October 14, 2024. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The Company is working diligently and expects to file the Form 10-K and the Form 10-Q within the 60-day period described above, which would eliminate the need for the Company to submit a formal plan to regain compliance. On May 30, 2024, the Company issued a press release announcing its receipt of the Notice from Nasdaq. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit Description 99.1 Press Release, dated May 30, 2024, issued by Momentus Inc. 104 Cover Page Interactive Data File (formatting in Inline XBRL and contained in Exhibit 101) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. By: /s/ Paul Ney Name: Paul Ney Dated: May 30, 2024 Title: Chief Legal Officer and Corporate Secretary