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Get filing alertsMomentus eliminates all convertible debt through full conversion to common stock
Filed April 20, 2026 · Period ending April 17, 2026 · ~1 min read
Key Changes
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All outstanding convertible debt converted to common stock as of April 17, 2026, eliminating future dilution uncertainty but increasing current share count. Company now has zero convertible indebtedness on balance sheet.
Item 1.01 verify on EDGAR → -
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Convertible note conversion price fell 80% from $19.92 to $3.93 per share due to anti-dilution provisions triggered by prior lower-priced stock issuances, significantly increasing shares issued upon conversion.
Item 1.01 verify on EDGAR → -
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AIR Warrants allowing investor to purchase up to $4 million in additional convertible notes were terminated following the full conversion of the underlying $1.63 million Convertible Note.
Item 1.01 verify on EDGAR →
Summary
Momentus completed a significant balance sheet restructuring on April 17, 2026, converting all outstanding convertible debt into common stock and eliminating convertible indebtedness entirely.
The conversion included notes issued to Space Infrastructures Ventures and a $1.63 million Convertible Note that had seen its conversion price plummet from $19.92 to $3.93 per share—an 80% drop triggered by anti-dilution clauses when the company previously issued shares at lower prices. This steep price adjustment means existing shareholders absorbed substantial dilution during the conversion.
For retail investors, this is a double-edged development. The positive: no more convertible debt overhang means no future surprise dilution from these instruments. The negative: the conversion already happened at heavily diluted terms, and the 80% conversion price drop signals the company has been issuing equity at distressed valuations. Watch the next quarterly filing to see the exact share count increase and assess how management plans to fund operations without convertible debt as a financing tool.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Procedural 8-K incorporating by reference Item 1.01 from prior September 29, 2025 filing; no new material disclosure.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Item 1.01 in the Company's Form 8-K filed with the Securities and Exchange Commission on September 29, 2025, which description is incorporated by reference herein.
01 from a prior 8-K filed on September 29, 2025. The filing provides no details about what event or disclosure is being referenced, making it purely procedural.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify