Momentus Inc. Faces Delisting Concerns

TL;DR

Momentus might get delisted, check exchange compliance.

AI Summary

Momentus Inc. filed an 8-K on September 26, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company is also providing a Regulation FD disclosure and filing financial statements and exhibits. This filing indicates potential issues with Momentus's compliance with stock exchange listing requirements.

Why It Matters

This filing suggests Momentus Inc. may be at risk of being delisted from its stock exchange, which could significantly impact its stock price and investor confidence.

Risk Assessment

Risk Level: high — The filing explicitly mentions a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard,' indicating a significant risk to the company's stock market listing.

Key Players & Entities

• Momentus Inc. (company) — Registrant
• Stable Road Acquisition Corp. (company) — Former Company Name
• 001-39128 (company) — Commission File Number
• 841905538 (company) — IRS Number

FAQ

Key Financial Figures

• $0.00001 — f the Company's common stock, par value $0.00001 per share ("Common Stock"), for the las
• $1.00 — ment to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Requi
• $5,000,000 — equity initial listing requirements of $5,000,000 for Nasdaq, as set forth under Nasdaq L

Filing Documents

• ef20036367_8k.htm (8-K) — 37KB
• ef20036367_ex99-1.htm (EX-99.1) — 94KB
• ef20036367_ex99-2.htm (EX-99.2) — 612KB
• 0001140361-24-042073.txt ( ) — 1046KB
• mnts-20240924.xsd (EX-101.SCH) — 4KB
• mnts-20240924_def.xml (EX-101.DEF) — 17KB
• mnts-20240924_lab.xml (EX-101.LAB) — 26KB
• mnts-20240924_pre.xml (EX-101.PRE) — 20KB
• ef20036367_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, on March 27, 2024, Momentus Inc. (the "Company") received a letter from the Listing Qualifications Staff of The Nasdaq Capital Market ("Nasdaq") indicating that, based upon the closing bid price of the Company's common stock, par value $0.00001 per share ("Common Stock"), for the last 30 consecutive business days, the Company was not in compliance with the requirement to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Requirement") for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Original Notice"). At that time, the Company was provided a compliance period of 180 calendar days from the date of the Original Notice, or until September 23, 2024, to regain compliance with the Minimum Bid Price Requirement, pursuant to Nasdaq Listing Rule 5810(c)(3)(A). As the Company did not regain compliance with the Minimum Bid Price Requirement by September 23, 2024, and it was determined that the Company is not eligible for another 180 calendar-day extension because it did not meet the minimum stockholders' equity initial listing requirements of $5,000,000 for Nasdaq, as set forth under Nasdaq Listing Rule 5505(b), the Company received a delisting determination letter on September 24, 2024 (the "Delisting Determination Letter"). As previously reported in the Company's Current Reports on Form 8-K filed May 30, 2024 and August 27, 2024, the Company received deficiency letters on May 23, 2024 and August 21, 2024, respectively, from the Staff notifying the Company that, the Company had not filed its Form 10-Q for the periods ending March 31, 2024 and June 30, 2024, respectively, as required for continued listing on the Nasdaq under Nasdaq Listing Rule 5250(c)(1) (the "Periodic Reporting Requirement"). Pursuant to Nasdaq Listing Rule 5810(d)(2), the failures to comply wi

01

Item 7.01 Regulation FD. Settlement of Derivative Litigation As previously reported, on August 26, 2024, an unopposed motion for the preliminary approval of settlement was filed after the Company reached an agreement in principle for a proposed settlement of certain shareholder derivative litigation. On September 16, 2026, an order preliminarily approving the proposed settlement, subject to further consideration at the November 21, 2024, settlement hearing was entered in the U.S. District Court for the Northern District of California. Copies of the Notice of Pendency and Proposed Settlement of Derivative Matters and the Stipulation and Agreement of Settlement are attached to this Current Report on Form 8-K as Exhibits 99.1 and 99.2, respectively.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Description 99.1 Notice of Pendency and Proposed Settlement of Derivative Matters 99.2 Stipulation and Agreement of Settlement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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: September 26, 2024 Title: Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR