Momentus Inc. Faces Delisting Concerns

TL;DR

Momentus Inc. might get delisted - big trouble ahead.

AI Summary

Momentus Inc. filed an 8-K on October 24, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company's principal executive offices are located at 3901 N. First Street, San Jose, California, 95134. This filing indicates potential issues with the company'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 — A notice of delisting or failure to meet listing standards is a severe indicator of financial distress or non-compliance, posing a significant risk to the company and its investors.

Key Players & Entities

• Momentus Inc. (company) — Registrant
• 3901 N. First Street San Jose, California 95134 (location) — Principal Executive Offices
• October 17, 2024 (date) — Date of earliest event reported
• October 24, 2024 (date) — Date of Report
• 001-39128 (identifier) — Commission File Number
• 84-1905538 (identifier) — I.R.S. Employer Identification No.

FAQ

Key Financial Figures

• $2,500,000 — as a result of not having a minimum of $2,500,000 in stockholders' equity for continued l
• $35 m — value of listed securities of at least $35 million, or net income from continuing op
• $500,000 — et income from continuing operations of $500,000 in the most recently completed fiscal y

Filing Documents

• ef20037670_8k.htm (8-K) — 31KB
• 0001140361-24-044106.txt ( ) — 206KB
• mnts-20241017.xsd (EX-101.SCH) — 4KB
• mnts-20241017_def.xml (EX-101.DEF) — 17KB
• mnts-20241017_lab.xml (EX-101.LAB) — 26KB
• mnts-20241017_pre.xml (EX-101.PRE) — 20KB
• ef20037670_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 October 17, 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 5550(b) as a result of not having a minimum of $2,500,000 in stockholders' equity for continued listing as of June 30, 2024, a market value of listed securities of at least $35 million, or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. While the Notice has no immediate effect on the listing of the Company's shares on Nasdaq, as previously disclosed on September 26, 2024, the Company previously received deficiency notifications from Nasdaq that resulted in the Company requesting a hearing before a Nasdaq Hearing Panel ("Panel") to appeal Nasdaq's delisting determination. The Company has requested such a hearing and intends to also address this latest notice of deficiency at the hearing. Additionally, the Company recently filed its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, resolving two of the deficiencies previously identified by Nasdaq. However, if the Panel does not accept the Company's plan to regain compliance with the Nasdaq listing rules, the Company's common stock will be subject to delisting from Nasdaq. Cautionary Statement regarding Forward-Looking Statements This Current Report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this Current Report, are forward-looking statements. Forward-looking statements i

View Full Filing

View this 8-K filing on SEC EDGAR