Momentus Inc., a Delaware-based company, has announced a strategic adjustment regarding its convertible promissory notes with Space Infrastructures Ventures, LLC $(SIV.UK)$. The company's Board of Directors has authorized a reduction in the conversion price of its notes, offering SIV a new conversion rate of $1.77 per share for up to 112,576 shares under the July 2024 Note. Additionally, the conversion price for up to 275,000 shares under the October 2024 Note will be reduced during the period from May 19 to June 1, 2025. This decision follows a previous offer made on March 3, 2025, to lower the conversion price of the July 2024 Note to $2.12 per share. The current conversion price for the October 2024 Note stands at $7.4088 per share, marking a significant reduction aimed at optimizing financial strategies and shareholder value.
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