Momentus space company risks delisting from stock exchange
Space startup considers stock split to avoid delisting
Momentus, a space company known for its Vigoride “space tug,” faces a possible delisting from the NASDAQ due to its shares failing to rise above $1 since 7 February 2023.
In response, the startup may consider a stock split as a solution to the issue before the 180-day deadline set by NASDAQ.
Momentus planned to launch its first Vigorides into Earth’s orbit as early as June 2022. However, the company has faced scrutiny from the US Securities and Exchange Commission, which fined it $7 million for allegedly misleading investors about the commercial viability of its project.
Since its launch in 2017, Momentus has raised an estimated $143.8 million.
