Latest Capital Raise Strengthens Momentus Balance Sheet
Debt-Free Space Transportation Firm Eyes R&D Acceleration
A series of capital transactions has netted approximately $84.6 million for Momentus, bringing its cash on hand to $76 million while remaining debt free. The company’s Vigoride 7 spacecraft, meanwhile, has transitioned into active customer payload operations following a March launch.
“We were able to take decisive action to strengthen our balance sheet, which will provide us the flexibility to invest strategically in growth.”
John Rood, Momentus
The San Jose, California-based company completed three separate financing actions. It fully drew down the remaining capacity of its $50 million at-the-market program. On May 28, it closed a $25 million private placement with two institutional investors at market price under Nasdaq rules. Existing warrant holders exercised 1,807,938 warrants, generating an additional $9.6 million in gross proceeds. That leaves 501,162 warrants unexercised. The company now has 16,983,959 shares outstanding, including 765,580 pre-funded warrants.
“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,” said John Rood, Chief Executive Officer of Momentus. “These investments will be focused on accelerating the Company’s growth in the expanding government and commercial space market.”
Momentus launched Vigoride 7 on the SpaceX Transporter-16 mission on March 30, carrying 10 payloads to low Earth orbit. The spacecraft separated cleanly from the SpaceX Falcon 9 and descended from an initial orbit of approximately 317 miles (510 kilometers) using Momentus’ water-based propulsion system. The vehicle completed more than 30 engine burns while maintaining stable attitude and orientation throughout the controlled descent maneuver.
The largest hosted payload aboard Vigoride 7 is ASTRA, developed by Caltech under contract with the Defense Advanced Research Projects Agency (DARPA). ASTRA has been commissioned and is using robotic arms to autonomously assemble a lightweight truss structure in orbit — a demonstration of scalable in-space assembly for potential manufacturing, communications, and energy applications.
A second payload — a titanium pressure tank designed by Momentus and manufactured using Velo3D’s metal additive printing process — is meeting mission objectives, demonstrating stable pressure retention in orbit. The tank is designed to carry propellant for satellite propulsion systems and represents a test of additive manufacturing for mission-critical spacecraft components.
Additional customer payloads have begun commissioning. Others are scheduled to commence operations in the coming months, including the release of a NASA satellite and a rendezvous and proximity operations demonstration under a contract with SpaceWERX, the innovation arm 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, Senior Vice President for Engineering and Operations at Momentus. “Momentus continues to demonstrate the capabilities expected of a key player in next-generation space transportation and services.”
The company’s next mission, Vigoride 8, is fully subscribed with two NASA payloads and is scheduled to fly in 2027. Capacity remains available on Vigoride 9. Organizations seeking a payload slot may contact the Momentus commercial team at sales@momentusspace.com.