From CNBC:

Space company Momentus warned shareholders of its financial struggles, running out of money and lacking a financial lifeline. Once valued at over $1 billion, Momentus abandoned its next mission and laid off 20% of its workforce. With shares falling over 30%, its market value has plummeted to nearly $5 million. The company’s future depends on raising equity capital or engaging in a strategic transaction.

Momentus was among the space companies that debuted during the SPAC frenzy, facing challenges before going public. It flew four missions and deployed 17 satellites, but its financial and operational struggles have caused its market value to slide drastically. Despite pitching itself as a “last mile delivery” service for spacecraft, Momentus’s future remains uncertain.



Read more: Space company Momentus MNTS running out of money