11:57 AM EST, 12/17/2024 (MT Newswires) -- Momentus ( MNTS ) said Tuesday it priced a securities offering for the sale of 800,000 common shares and warrants at $6.20 apiece to an investor.

The warrants will be immediately exercisable at $6.08 per share and expire five years from the issuance date, the company said.

Expected gross proceeds of about $5 million will be used for general corporate purposes, said the company, which expects the offering to close around Wednesday.

The shares of Momentus ( MNTS ) were down 2.5% in recent trading.

Price: 7.65, Change: -0.20, Percent Change: -2.49