Momentus Eliminates All Outstanding Convertible Debt, Cleans Up Balance Sheet

summarizeSummary

Momentus Inc. announced the termination of material convertible debt agreements and associated warrants, resulting in the full conversion of all outstanding convertible indebtedness into common stock.

check_boxKey Events

• Convertible Notes Fully Converted

  The Junior Secured Convertible Note with Yield Point NY, LLC (originally $1.63 million principal) and an Amended and Restated Secured Convertible Promissory Note with Space Infrastructures Ventures were fully converted into shares of common stock on April 17, 2026.

• AIR Warrants Terminated

  The AIR Warrants, which allowed for the purchase of up to an additional $4 million in principal amount of convertible notes, were terminated following the full conversion of the underlying notes.

• Elimination of Convertible Indebtedness

  As a result of these actions, Momentus Inc. no longer has any outstanding convertible indebtedness, simplifying its balance sheet and removing a source of potential future dilution from these specific instruments.

auto_awesomeAnalysis

Momentus Inc. has significantly streamlined its capital structure by converting all outstanding convertible indebtedness into common stock and terminating associated warrants. This action removes the overhang of potential future dilution from these specific instruments and eliminates the complexity of convertible debt from the balance sheet. While the conversions themselves involved dilution, particularly for the Yield Point note which had an adjusted conversion price of $3.927, the overall outcome is positive as it reduces financial risk and simplifies the company's debt profile amidst ongoing capital raising efforts, including a recently closed $5 million private placement and an expanded $50 million ATM program.