Momentus Strengthens Balance Sheet with $76 Million in Cash While Progress in Executing Current Space Mission Reinforces Long-Term Growth Strategy

Proceeds boost capital position to continue advancing satellite technology as well as space logistics and infrastructure services

SAN JOSE, Calif.--(BUSINESS WIRE)-- Momentus Inc. (NASDAQ: MNTS) (“Momentus” or the “Company”), a U.S. commercial space company specializing in satellite technology, space transportation, and in-orbit services, today announced two major developments:

• Execution of key capital raising activities that strengthens the Company’s financial position; and
• Successful transition of its Vigoride 7 Orbital Service Vehicle (OSV), launched on the SpaceX Transporter-16 mission, into hosted payload mission operations for customers.

Capital Raising and Strengthened Financial Position

• Momentus fully utilized the remaining capacity on its $50 million at-the-market (ATM) program.
• As previously reported, on May 28, 2026, Momentus completed a $25 million private placement with two large institutional investors priced at-the-market under Nasdaq rules.
• In addition, existing holders of Momentus warrants recently exercised 1,807,938 warrants, generating gross proceeds of more than $9.6 million, and leaving only 501,162 unexercised warrants outstanding.
• Following these transactions, Momentus has approximately $76 million in cash on hand as of the date of this release, and the Company remains debt free.
• As of the date of this release, Momentus has 16,983,959 shares outstanding, including 765,580 pre-funded warrants.

“We have strategically executed on accelerating momentum in the space sector,” said John Rood, Chief Executive Officer of Momentus. “We were able to take decisive action to strengthen our balance sheet, which will provide us the flexibility to invest strategically in growth, such as accelerated research and development of satellite technologies, orbital transportation services, and on-orbit services. These investments will be focused on accelerating the Company’s growth in the expanding government and commercial space market.”

Vigoride 7 Mission Progress

“In March, we achieved a major milestone with the launch of our Vigoride 7 spacecraft carrying 10 payloads to low Earth orbit on the SpaceX Transporter-16 mission,” Rood added. “Over the next several months, we plan to utilize Vigoride 7 to conduct a series of in-space operations to support a suite of cutting-edge systems for our customers in U.S. Defense Department organizations, NASA, and commercial customers. We also plan to demonstrate some innovative technology developed through extensive engineering and mission preparation by the Momentus team. We’re proud of the way Vigoride 7 continues to operate during the mission, reaching milestones, and beginning customer payload operations.”

After launch on March 30, 2026, Vigoride 7 cleanly separated from the SpaceX Falcon 9 in low Earth orbit. Vigoride 7 and its payloads are healthy and operating as planned.

From an initial orbit altitude of approximately 517 kilometers, the spacecraft executed a deliberate, well-controlled descent using Momentus’ proprietary water-based propulsion system. The vehicle completed more than 30 short engine burns, with its thrusters and reaction control hardware maintaining stable attitude and precise orientation throughout the maneuver. This milestone of completing the planned maneuver demonstrates Vigoride 7’s on-orbit mobility, ability to operate independently, conduct communications, and begin executing operation of customer payloads.

The largest hosted payload on this mission, being operated under a contract with the Defense Advanced Research Projects Agency (DARPA), was produced by Caltech and is called ASTRA. This hosted payload was successfully commissioned and has started its in-space assembly mission. ASTRA has started using robotic arms and precision mechanisms to autonomously assemble a lightweight truss structure in orbit — a meaningful step toward scalable in-space structures to increase cost-efficiency and enable new space-based operations for manufacturing, communications, and energy systems.

Another hosted payload, the innovative titanium pressure tank that Momentus designed that was manufactured using Velo3D’s advanced 3D metal printing technology, is successfully meeting its current mission objectives, demonstrating stable pressure retention throughout on-orbit operations. The pressure tank is designed to carry propellant for satellite propulsion systems. The tank represents a significant step forward in the adoption of additive manufacturing for mission-critical spacecraft components.

Several other customer payloads have begun commissioning and operations, and the remaining payloads are scheduled to begin operations in the coming months as the mission plan progresses, such as release of a NASA satellite and the conduct of a rendezvous and proximity operations demonstration under a contract with SpaceWERX, the innovation organization of the U.S. Space Force.

“Vigoride’s achievements underscore the maturity of the platform, which can operate as a satellite bus or Orbital Service Vehicle to support complex hosted payload missions,” said Tom Malko, Momentus’ Senior Vice President for Engineering and Operations. “Momentus continues to demonstrate the capabilities expected of a key player in next-generation space transportation and services.”

Looking Ahead

Momentus’ upcoming Vigoride 8 mission is fully subscribed with two payloads for NASA and is scheduled to fly in 2027. Capacity remains available on the Company’s Vigoride 9 mission. Organizations interested in securing a payload slot can contact the Momentus Commercial team at [e-mail].

About Momentus

Momentus is a U.S. commercial space company offering satellites, satellite components, and in-space transportation and infrastructure services. Through its Vigoride orbital service vehicle, the company delivers hosted payload support, last-mile delivery, and servicing capabilities tailored to scalable mission architectures.

Forward-Looking Statements

This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding the expected filing of the Company’s Form 10-K and Form 10-Q and its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the heading “Risk Factors” in the Annual Report on Form 10-K filed by the Company on April 9, 2025, as such factors may be updated from time to time in our other filings with the Commission, accessible on the Commission’s website at www.sec.gov and the Investor Relations section of our website at investors.momentus.space. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.