05:47 PM EST, 12/09/2024 (MT Newswires) -- Momentus ( MNTS ) said late Monday it is implementing a 1-for-14 reverse split of its class A common shares, mainly to bring the company into compliance with the Nasdaq Global Select Market's $1 minimum bid price requirement for continued listing.

The commercial space company expects its shares to start trading on a split-adjusted basis on Friday.

Momentus ( MNTS ) shares were down nearly 6% in after-hours activity.