Momentus Inc. Faces Delisting Concerns
Ticker: MNTSW · Form: 8-K · Filed: Aug 27, 2024 · CIK: 1781162
Sentiment: bearish
Topics: delisting, listing-standards, regulation-fd
TL;DR
Momentus might get delisted - big trouble brewing.
AI Summary
Momentus Inc. filed an 8-K on August 27, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, and a Regulation FD disclosure. The filing indicates potential issues with the company's continued listing on the stock exchange, though specific details regarding the rule or standard violated are not immediately clear from this summary. The company was formerly known as Stable Road Acquisition Corp.
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 warning sign for a publicly traded company, indicating significant operational or financial challenges.
Key Numbers
- 20240821 — Date of Report (Earliest event reported)
- 20240827 — Filing Date (Date the 8-K was submitted)
Key Players & Entities
- Momentus Inc. (company) — Registrant
- Stable Road Acquisition Corp. (company) — Former company name
- 001-39128 (company) — SEC File Number
- 841905538 (company) — IRS Number
FAQ
What specific listing rule or standard has Momentus Inc. failed to satisfy?
The provided text indicates a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify which rule or standard has been violated.
What is the immediate impact of this notice on Momentus Inc.'s stock trading?
The filing itself is a notice and does not explicitly state an immediate trading halt or delisting, but it signals a serious risk of future delisting.
When was Momentus Inc. formerly known as Stable Road Acquisition Corp.?
The date of the name change from Stable Road Acquisition Corp. to Momentus Inc. was June 28, 2019.
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.
What is the SIC code for Momentus Inc.?
The Standard Industrial Classification (SIC) code for Momentus Inc. is 3760, which corresponds to GUIDED MISSILES & SPACE VEHICLES & PARTS.
Filing Stats: 652 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-08-27 12:35:01
Filing Documents
- ef20034902_8k.htm (8-K) — 31KB
- 0001140361-24-038703.txt ( ) — 204KB
- mnts-20240821.xsd (EX-101.SCH) — 4KB
- mnts-20240821_def.xml (EX-101.DEF) — 17KB
- mnts-20240821_lab.xml (EX-101.LAB) — 26KB
- mnts-20240821_pre.xml (EX-101.PRE) — 20KB
- ef20034902_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 August 21, 2024, Momentus Inc., a Delaware corporation (the "Company"), received notice from the Listing Qualifications Department of The Nasdaq Capital Market LLC ("Nasdaq") notifying the Company that it was not in compliance with the requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed with the Commission its Form 10-Q for the period ended June 30, 2024. The Notice 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 within 60 calendar days by October 21, 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-Q's due date, or February 17, 2025. 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 submit a plan to regain compliance within 60 calendar days by October 21, 2024.
01
Item 7.01 Regulation FD Disclosure. On August 22, 2024, the National Aeronautics and Space Agency (NASA) selected the Company to participate as a launch provider in the VADR (Venture-Class Acquisition of Dedicated Rideshare) contract. The VADR program allows NASA to deliver Class D, CubeSats, and higher risk-tolerant payloads to a variety of orbits. The NASA announcement is available online at https://www.nasa.gov/news-release/nasa-selects-three-new-venture-class-launch-service-providers/ . The information on this website is not incorporated by reference into, and does not constitute part of, this Current Report on Form 8-K. 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: August 26, 2024 Title: Chief Legal Officer and Corporate Secretary