Momentus Inc. Faces Delisting Concerns
Ticker: MNTSW · Form: 8-K · Filed: Jun 21, 2024 · CIK: 1781162
Sentiment: bearish
Topics: delisting, listing-standards, compliance
Related Tickers: MNTS
TL;DR
Momentus might get kicked off Nasdaq - big trouble ahead.
AI Summary
Momentus Inc. filed an 8-K on June 21, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company previously operated as Stable Road Acquisition Corp. before changing its name on June 28, 2019. The filing indicates potential issues with Nasdaq listing requirements.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the stock being delisted from Nasdaq, impacting liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant red flag for investors, indicating potential severe financial or operational issues.
Key Players & Entities
- Momentus Inc. (company) — Registrant
- Stable Road Acquisition Corp. (company) — Former company name
- June 18, 2024 (date) — Date of earliest event reported
- June 21, 2024 (date) — Date of report
- Nasdaq (company) — Stock exchange where Momentus is listed
FAQ
What specific listing rule has Momentus Inc. failed to satisfy?
The filing does not specify the exact listing rule that Momentus Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on June 18, 2024.
What was Momentus Inc.'s former company name?
Momentus Inc.'s former company name was Stable Road Acquisition Corp.
On what date did the company change its name from Stable Road Acquisition Corp. to Momentus Inc.?
The company changed its name from Stable Road Acquisition Corp. on June 28, 2019.
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to report a notice of delisting or failure to satisfy a continued listing rule or standard, and to report financial statements and exhibits.
Filing Stats: 525 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-06-21 14:52:36
Filing Documents
- ef20031516_8k.htm (8-K) — 29KB
- 0001140361-24-030872.txt ( ) — 201KB
- mnts-20240618.xsd (EX-101.SCH) — 4KB
- mnts-20240618_def.xml (EX-101.DEF) — 17KB
- mnts-20240618_lab.xml (EX-101.LAB) — 26KB
- mnts-20240618_pre.xml (EX-101.PRE) — 20KB
- ef20031516_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. As previously disclosed in a Current Report on Form 8-K filed on May 30, 2024, Momentus Inc. (the "Company") received an additional notice from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was delinquent in filing its Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the "Form 10-Q") and was therefore not in compliance with Nasdaq Listing Rule 5250(c)(1). Following submission of the Company's plan to cure such delinquency, on June 18, 2024, the Nasdaq Hearings Panel granted the Company's request for continued listing subject to the Company filing its Form 10-Q by October 14, 2024. The Company plans to file the Form 10-Q as soon as practicable; however, no assurance can be given as to the definitive date on which such report will be filed.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit Description 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: June 21, 2024 Title: Chief Legal Officer and Corporate Secretary