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Momentus Inc. (NASDAQ:MNTS), whose stock has declined over 82% in the past year and currently trades at $1.19, announced Thursday that shareholders approved all seven proposals presented at its 2025 Special Meeting of Stockholders held Wednesday. The company, which maintains impressive gross profit margins of 92.49% despite challenges, has seen its market capitalization shrink to $13.84 million. The information is based on a press release statement and an SEC filing.
The approved measures include authorization for the company’s board to implement a reverse stock split of its Class A common stock, at a ratio ranging from 1-for-5 to 1-for-17.85. The reverse stock split proposal received 2,986,283 votes in favor, 727,980 against, and 79,434 abstentions.
Shareholders also approved proposals required by Nasdaq listing rules to allow the issuance of Class A common stock in connection with the exercise and potential adjustment of various outstanding warrants, inducement warrants, convertible notes and warrants, and lender warrants.
Additionally, the meeting approved the potential issuance of Class A common stock related to a debt settlement agreement. The adjournment proposal, permitting the meeting to be postponed or adjourned if additional time for proxy solicitation was needed, was also approved. InvestingPro analysis reveals 12 additional key insights about Momentus’s financial position and market performance, helping investors make more informed decisions about the company’s future prospects.
The voting results for the main proposals were as follows:
- Warrant Exercise Proposal: 888,109 for, 187,489 against, 71,530 abstentions, and 2,646,569 broker non-votes.
- Inducement Warrant Proposal: 626,538 for, 18,082 against, 502,508 abstentions, and 2,646,569 broker non-votes.
- Convertible Notes and Warrants Proposal: 626,538 for, 18,082 against, 502,508 abstentions, and 2,646,569 broker non-votes.
- Lender Warrant Proposal: 626,709 for, 17,913 against, 502,506 abstentions, and 2,646,569 broker non-votes.
- Debt Settlement Proposal: 626,579 for, 18,043 against, 502,506 abstentions, and 2,646,569 broker non-votes.
- Adjournment Proposal: 3,234,305 for, 478,548 against, and 80,844 abstentions.
Momentus Inc. is listed on the Nasdaq Stock Market under the symbols MNTS and MNTSW.
In other recent news, Momentus Inc. announced a warrant inducement agreement with an institutional investor, generating approximately $2.7 million in gross proceeds. The agreement involves the exercise of warrants to purchase 2,431,029 shares of common stock at a reduced price of $1.11 per share. Additionally, Momentus was awarded a contract by NASA to study the deployment of robotics technologies in space, with expectations of a proposal submission for a follow-on mission. The company is also set to demonstrate large-scale structure assembly for DARPA in 2026, having completed the Preliminary Design Review phase and received $1.2 million in milestone payments.
Momentus has further announced the pricing of a $4 million offering of common stock and warrants at a combined purchase price of $1.41 per share. The offering is expected to close around July 1, 2025, pending customary closing conditions. Furthermore, NASA awarded Momentus a contract to test power processing technology for Hall Thrusters in orbit, utilizing CisLunar Industries’ Modular Configurable Electric Power Converter technologies. These developments highlight Momentus’s ongoing collaborations with NASA and DARPA, emphasizing its role in advancing space technology.
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