Momentus Inc. current report, 03 January 2024

Business Context and Reporting Period

Momentus Inc. filed a Form 8-K reporting a Nasdaq listing deficiency received on January 3, 2024. The report was signed and dated January 9, 2024. The filing does not cover a financial reporting period.

Financial Metrics and Liquidity

The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other financial metrics.

Material Change Versus Prior Comparable Period

  • Nasdaq notified the company that it failed to hold an annual meeting of stockholders within 12 months after the fiscal year ended December 31, 2022, violating Nasdaq Listing Rule 5620(a).
  • The notice had no immediate impact on the listing of Momentus’s common stock, which remained fully effective on Nasdaq as of the filing date.

Guidance, Outlook, Risks, and Contingencies

  • Momentus had until February 20, 2024, to submit a compliance plan to Nasdaq.
  • If Nasdaq accepts the plan, it may provide an extension of up to 180 days from the notice date to cure the deficiency.
  • If Nasdaq rejects the plan, Momentus may appeal to the Nasdaq Hearings Panel, which may grant an additional extension of up to 180 calendar days.
  • Failure to regain compliance or submit an acceptable plan within the applicable deadlines could result in delisting from the Nasdaq Global Select Market.
  • If delisted, the company expects its common stock could trade on one of the three tiered marketplaces operated by OTC Markets Group.
  • The company cautioned that statements concerning its compliance plan and future listing status are forward-looking and subject to risks described in its prior SEC filings.

Key Facts for Investors to Verify

  • Whether Momentus submitted a compliance plan by February 20, 2024.
  • Whether Nasdaq accepted the plan and granted an extension.
  • Whether the company subsequently held the required annual meeting and regained compliance.
  • Any later Nasdaq delisting determination, hearing-panel decision, or change in the trading venue for MNTS or MNTSW.
  • The company’s financial condition and liquidity in its subsequent Form 10-K and Form 10-Q filings, as this 8-K provides no financial data.