Momentus Opens $75 Million ATM Days After $25 Million Raise
Capital Dependent
Company Background
Momentus is a San Jose-based commercial space company that provides satellite transportation and in-space infrastructure services through its Vigoride orbital service vehicle. The company generated $1.1 million in revenue for fiscal 2025 and carries a market cap of approximately $195 million. Management forecasts $10 million in 2026 revenue, driven by milestone-based government contracts with NASA, DARPA, SpaceWERX, and the Missile Defense Agency. Vigoride 7 launched March 30, 2026 aboard SpaceX's Transporter 16 mission and is operational on-orbit.
The twelve months preceding the new ATM were defined by a relentless effort to stabilize the company's finances. Momentus executed a 1-for-17.85 reverse stock split on December 17, 2025, to satisfy Nasdaq's minimum bid price requirement after the exchange had earlier granted a compliance extension. Over the same period the company closed warrant inducements, convertible notes, private placements, an equity purchase agreement, and a public offering — more than a dozen discrete capital transactions. By April 17, 2026, Momentus had retired its remaining convertible debt and reported no outstanding debt, and as of April 23, 2026 held $26.2 million in cash, which management estimated provides at least 12 months of runway.
What Was Disclosed
Momentus may now sell up to $75 million of its Class A common stock in open-market transactions through A.G.P./Alliance Global Partners as sales agent, under a prospectus supplement filed June 18, 2026. The program operates under an S-3 shelf registration that the SEC declared effective June 4, 2026. The filing notes that the $75 million ceiling "does not include shares of the Company's common stock sold pursuant to the Sales Agreement before today's date," indicating the underlying Sales Agreement predates the prospectus supplement and that some shares may already have been sold under it before the ceiling was formally published.