Momentus Inc. (MNTS) has closed a $25 million private placement with existing institutional investors, selling 2,942,000 new shares priced at-the-market under Nasdaq rules.
The deal is expected to formally close on or around Thursday, subject to standard closing conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent.
MNTS stock has climbed over 218% year-to-date heading into the announcement, trading at $15.48. The company’s market cap sits at roughly $95.7 million.
The shares are being sold under a Section 4(a)(2) exemption from registration. Momentus has agreed to file a registration statement with the SEC covering resale of the newly issued shares.
CEO John C. Rood said the company intends to put the cash toward research and development, strategic business initiatives, and general corporate purposes. Following the close, Momentus expects to hold approximately $76 million in cash, cash equivalents, and short-term investments.
That liquidity boost matters. According to InvestingPro data, Momentus holds more cash than debt, but has been burning through it quickly. The new capital gives the company more runway.
On May 26, Director Chris Hadfield purchased 2,000 shares at a total cost of $14,380. It’s a modest buy in dollar terms, but insider purchases from board members tend to get attention — it suggests at least some internal confidence in the direction of the business.
Hadfield was elected to the Momentus board at the company’s 2026 Annual Meeting of Stockholders alongside CEO Rood.
The fundraise comes as Momentus has started posting more credible revenue numbers. The company is projecting $10 million in revenue for 2026, up from just $1.1 million in 2025.
That jump is tied to milestone-based contracts with NASA and the U.S. Department of Defense. Momentus recently completed the Preliminary Design Review for its Vigoride 8 mission, which is fully booked and set to launch in early 2027.
The Vigoride 8 mission will carry payloads from Spaceworks and NASA. The company also successfully deployed Vigoride 7.
Separately, Momentus has cleaned up parts of its balance sheet by retiring certain convertible debt agreements. Outstanding notes were converted into Class A common stock, and warrants previously issued to Yield Point NY, LLC were terminated.
The company also completed an earlier $5 million private placement in which shares were sold at $3.75 each to a single institutional investor. That offering is now well below the current share price.
Average daily trading volume sits at over 2.1 million shares. The technical sentiment signal is currently listed as Sell on TipRanks.
The most recent insider buy and the $25 million raise are the latest developments in what has been a busy stretch for MNTS.
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