Momentus Inc. Faces Potential NASDAQ Delisting
Ticker: MNTSW · Form: 8-K · Filed: Jan 16, 2025 · CIK: 1781162
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: MNTS
TL;DR
Momentus might get kicked off NASDAQ - big trouble brewing.
AI Summary
Momentus Inc. filed an 8-K on January 16, 2025, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates potential issues with NASDAQ listing requirements, although specific details regarding the exact rule or standard not met are not provided in this excerpt. The report also includes other events and financial statements.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could negatively impact investor confidence and the company's ability to trade publicly.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a severe indicator of potential financial instability or significant operational issues.
Key Players & Entities
- Momentus Inc. (company) — Registrant
- NASDAQ (company) — Stock Exchange
- Stable Road Acquisition Corp. (company) — Former Company Name
FAQ
What specific NASDAQ listing rule or standard has Momentus Inc. failed to satisfy?
The provided excerpt of the 8-K filing does not specify the exact NASDAQ listing rule or standard that Momentus Inc. has failed to satisfy.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 13, 2025.
What is Momentus Inc.'s principal executive office address?
Momentus Inc.'s principal executive office is located at 3901 N. First Street, San Jose, California, 95134.
What was Momentus Inc.'s former company name?
Momentus Inc.'s former company name was Stable Road Acquisition Corp.
What is the SEC file number for Momentus Inc.?
Momentus Inc.'s SEC file number is 001-39128.
Filing Stats: 1,024 words · 4 min read · ~3 pages · Grade level 10.6 · Accepted 2025-01-15 18:31:06
Key Financial Figures
- $1.00 — ment to maintain a minimum bid price of $1.00 per share for continued listing on Nasd
Filing Documents
- ef20041695_8k.htm (8-K) — 36KB
- ef20041695_ex99-1.htm (EX-99.1) — 7KB
- image0.jpg (GRAPHIC) — 307KB
- 0001140361-25-001202.txt ( ) — 640KB
- mnts-20250113.xsd (EX-101.SCH) — 4KB
- mnts-20250113_def.xml (EX-101.DEF) — 17KB
- mnts-20250113_lab.xml (EX-101.LAB) — 26KB
- mnts-20250113_pre.xml (EX-101.PRE) — 19KB
- ef20041695_8k_htm.xml (XML) — 6KB
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 13, 2025, Momentus Inc., a Delaware corporation (the "Company"), received a letter issued by Nasdaq Hearings Panel (the "Panel") granting the Company's request to continue its listing on The Nasdaq Capital Market ("Nasdaq") until April 15, 2025 while the Company executes its plan to regain compliance with the requirements of Nasdaq Listing Rule 5550(b). Additionally, the Panel confirmed that the Company has regained compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on Nasdaq, as set forth in Nasdaq Listing Rule 5550(a)(2), as a result of the reverse stock split the Company effected on December 12, 2024. If the Company does not come into compliance with Nasdaq Listing Rule 5550(b) by April 15, 2025, the Company's common stock will be subject to delisting from The Nasdaq Capital Market.
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Item 7.01 Regulation FD Disclosure. The Company plans to issue a press release regarding the Panel's letter on January 16, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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Item 8.01 Other Information. On January 10, 2025, the U.S. District Court for the Northern District of California issued its final order and judgment approving the previously disclosed settlement in the matters captioned Hanna v. Kabot, et al., Case No. 5:23-cv-00374 (N.D. Cal.); Rivlin v. Kabot, et al., Case No. 2:23-cv-03120 (C.D. Cal.); Lindsey v. Quiroga, et al., Case No. 20230674 (Del. Ch.); and the litigation demand made by Momentus stockholder, Kamal Qureshi (collectively, the "Derivative Matters"). As a result of this settlement the Company is no longer a party to any shareholder derivative litigation. 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 include, but are not limited to, underlying assumptions, and are not guarantees of future performance. The words "may," "will," "anticipate," "believe," "expect," "continue," "could," "estimate," "future," "expect," "intends," "may," "might," "plan," "possible," "potential," "aim," "strive," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Exhibit Description 99.1 Press Release of Momentus Inc. dated January 16, 2025. 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: January 15, 2025 Title: Chief Legal Officer and Corporate Secretary