As filed with the Securities and Exchange Commission on September 9, 2022.
Registration No. 333-259281
Delaware | | | 84-1905538 |
(State or Other Jurisdiction of Incorporation or Organization) | | | (I.R.S. Employer Identification Number) |
John W. Titus Stephen C. Hinton Bradley Arant Boult Cummings LLP 1600 Division Street, Suite 700 Nashville, Tennessee 37203 Telephone: (615) 244-2582 | | | Jikun Kim Chief Financial Officer 3901 N. First Street San Jose, CA 95134 Telephone: (650) 564-7820 |
Large accelerated filer | | | ☐ | | | Accelerated filer | | | ☐ |
Non-accelerated filer | | | ☒ | | | Smaller reporting company | | | ☒ |
| | | | Emerging growth company | | | ☒ |
• | up to (A) 54,579,637 shares of our Class A common stock, par value $0.00001 per share (“Class A Stock”), which consists of (i) 495,000 shares of Class A Stock (the “Founder Shares”) originally issued in a private placement to SRC-NI Holdings, LLC (the “Sponsor”) in connection with the initial public offering (the “IPO”) of Stable Road Acquisition Corp. (“SRAC”) and subsequently distributed to certain equityholders of the Sponsor, (ii) 50,000 shares of Class A Stock (the “Underwriter Shares”) originally issued in a private placement to Cantor Fitzgerald & Co. (“Cantor”) in connection with the IPO (as defined below), (iii) 50,000 shares of Class A Stock (the “Finder Shares”) issued pursuant to a finder’s agreement dated June 28, 2020, (iv) 4,062,500 shares of Class A Stock originally issued to the Sponsor and SRAC PIPE Partners LLC in connection with the IPO, (v) 25,996,648 shares of Class A Stock issued pursuant to the Merger Agreement (as defined below), (vi) 11,000,000 shares of Common Stock issued to certain investors pursuant to subscription agreements dated July 15, 2021 (the “PIPE Shares”), (vii) 11,272,500 shares of Class A Stock issuable upon the exercise of 11,272,500 warrants originally issued in a private placement to the Sponsor and Cantor in connection with the IPO (the “Sponsor and Underwriter Private Warrants”) or in a private placement in connection with the Business Combination (as defined below) (the “PIPE Private Warrants” together with the Sponsor and Underwriter Private Warrants, the “Private Warrants”), in each case at an exercise price of $11.50 per share of Class A Stock, (viii) up to 1,018,281 shares of Class A Stock issuable upon the exercise of certain Rollover Options (as defined below), and (ix) 634,708 shares of Class A Stock issued upon the exercise of certain Rollover Options and (B) up to 272,500 Private Warrants. |
• | up to 8,625,000 shares of Class A Stock that are issuable by the Company upon the exercise of 8,625,000 warrants originally issued in connection with the IPO at an exercise price of $11.50 per share of Class A Stock (the “Public Warrants” together with the Private Warrants, the “Warrants”). |
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• | Our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “Annual Report”), filed with the SEC on March 8, 2022; |
• | Our Quarterly Reports on Form 10-Q for the quarter ended March 31, 2022 as filed with the SEC on May 11, 2022, and for the quarter ended June 30, 2022, as filed with the SEC on August 11, 2022; |
• | Our Current Reports on Form 8-K, as filed with the SEC on January 7, 2022, February 14, 2022, March 23, 2022, May 23, 2022, June 2, 2022 and August 22, 2022 (except for information “furnished” under Items 2.02, 7.01 or 9.01 on Form 8-K); |
• | Portions of the Definitive Proxy Statement on Schedule 14A, as filed with the SEC on April 15, 2022 that are incorporated by reference into Part III of our Annual Report on Form 10-K for the year ended December 31, 2021; and |
• | The description of the our Class A Stock contained in its Registration Statement on Form 8-A, as filed with the SEC on November 6, 2019, as amended by the description of the Registrant’s common stock contained in Exhibit 4.3 to the Annual Report filed with the SEC on March 8, 2022, and including any further amendment or report filed for the purpose of updating such description. |
• | Momentus’ future financial performance; |
• | Momentus’ strategy, future operations, projected capital resources and financial position, estimated revenues and losses, projected costs and capital expenditures, prospects and plans; |
• | the potential future capabilities of Momentus’ technology, including its water plasma propulsion technology; |
• | projections of market growth and size; |
• | anticipated progress and timeline of any testing of Momentus’ technology and any launch status of Momentus’ satellite transportation systems; |
• | expansion plans and opportunities; and |
• | the outcome of any known and unknown litigation and regulatory proceedings. |
• | the ability of the Company to obtain licenses and government approvals for its missions, which are essential to its operations; |
• | the ability of the Company to effectively market and sell satellite transport services and planned in-orbit services; |
• | the ability of the Company to protect its intellectual property and trade secrets; |
• | the development of markets for satellite transport and in-orbit services; |
• | the ability of the Company to develop, test and validate its technology, including its water plasma propulsion technology; |
• | delays or impediments that the Company may face in the development, manufacture and deployment of next generation satellite transport systems; |
• | the ability of the Company to convert backlog or inbound inquiries into revenue; |
• | changes in applicable laws or regulations and extensive and evolving government regulations that impact operations and business, including export control license requirements; |
• | the ability to attract or maintain a qualified workforce with the required security clearances and requisite skills; |
• | level of product service or product or launch failures or delays that could lead customers to use competitors’ services; |
• | investigations, claims, disputes, enforcement actions, litigation and/or other regulatory or legal proceedings; |
• | the effects of the COVID-19 pandemic on the Company’s business; |
• | the Company’s ability to comply with the terms of its National Security Agreement and any related compliance measures instituted by the director who was approved by the Committee on Foreign Investment in the United States (“CFIUS”) Monitoring Agencies (the “Security Director”); |
• | the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and |
• | other risks and uncertainties described in this prospectus, including those under the section titled “Risk Factors.” |
• | an exemption from compliance with the auditor attestation requirement on the effectiveness of our internal control over financial reporting; |
• | an exemption from compliance with any requirement that the Public Company Accounting Oversight Board may adopt regarding a supplement to the auditor’s report providing additional information about the audit and the financial statements; |
• | reduced disclosure about our executive compensation arrangements; and |
• | an exemption from the requirements to obtain a non-binding advisory vote on executive compensation or a stockholder approval of any golden parachute arrangements. |
| | Shares of Class A Stock | | | Warrants to Purchase Class A Stock | |||||||||||||||||||
Name | | | Number Beneficially Owned Prior to Offering | | | Number Registered for Sale Hereby | | | Number Beneficially Owned After Offering* | | | Percent Owned After Offering* | | | Number Beneficially Owned Prior to Offering | | | Number Registered for Sale Hereby | | | Number Beneficially Owned After Offering | | | Percent Owned After Offering |
Holders of Founder Shares | | | | | | | | | | | | | | | | | ||||||||
SRC-NI Holdings, LLC(1) | | | 1,261,029 | | | 1,261,029 | | | — | | | — | | | — | | | — | | | — | | | — |
Stable Road Capital LLC(2) | | | 1,230,143 | | | 1,230,143 | | | — | | | — | | | 396,001 | | | 396,001 | | | — | | | — |
DIBALYD Investments LLC(3) | | | 954,425 | | | 954,425 | | | — | | | — | | | 754,425 | | | 754,425 | | | — | | | — |
Nala Investments LLC(4) | | | 11,875 | | | 11,875 | | | — | | | — | | | 11,875 | | | 11,875 | | | — | | | — |
James A. Hofmockel(5) | | | 109,447 | | | 109,447 | | | — | | | — | | | 19,960 | | | 19,960 | | | — | | | — |
JW Capital, LLC(6) | | | 78,568 | | | 78,568 | | | — | | | — | | | 38,609 | | | 38,609 | | | — | | | — |
Douglas C. Gessner Revocable Trust(7) | | | 5,000 | | | 5,000 | | | — | | | — | | | 5,000 | | | 5,000 | | | — | | | — |
CR Financial Holdings, Inc.(8) | | | 25,000 | | | 25,000 | | | — | | | — | | | 25,000 | | | 25,000 | | | — | | | — |
South Pacific Investment Holdings LLC(9) | | | 62,390 | | | 62,390 | | | — | | | — | | | 62,390 | | | 62,390 | | | — | | | — |
HKE2(10) | | | 49,505 | | | 49,505 | | | — | | | — | | | 49,505 | | | 49,505 | | | — | | | — |
Allegro Capital, LLC(11) | | | 3,730 | | | 3,730 | | | — | | | — | | | 3,730 | | | 3,730 | | | — | | | — |
MYW Holdings, LLC(12) | | | 18,649 | | | 18,649 | | | — | | | — | | | 18,649 | | | 18,649 | | | — | | | — |
John Jiang(13) | | | 37,298 | | | 37,298 | | | — | | | — | | | 37,298 | | | 37,298 | | | — | | | — |
Andrew Perry(14) | | | 7,460 | | | 7,460 | | | — | | | — | | | 7,460 | | | 7,460 | | | — | | | — |
Randolph Street Ventures, L.P. - 2020-98(15) | | | 198,020 | | | 198,020 | | | — | | | — | | | 198,020 | | | 198,020 | | | — | | | — |
Andrew Simpson(16) | | | 16,236 | | | 16,236 | | | — | | | — | | | 7,460 | | | 7,460 | | | — | | | — |
Alyssa M. Nobriga(17) | | | 21,549 | | | 21,549 | | | — | | | — | | | 9,901 | | | 9,901 | | | — | | | — |
Frostwood Corp.(18) | | | 37,298 | | | 37,298 | | | — | | | — | | | 37,298 | | | 37,298 | | | — | | | — |
Flamingo Drive Partners LLC(19) | | | 14,919 | | | 14,919 | | | — | | | — | | | 14,919 | | | 14,919 | | | — | | | — |
Ken Leonard(20) | | | 121,635 | | | 121,635 | | | — | | | — | | | — | | | — | | | — | | | — |
Holders of Underwriter Shares | | | | | | | | | | | | | | | | | ||||||||
Cantor Fitzgerald & Co.(21) | | | 75,000 | | | 75,000 | | | — | | | — | | | 25,000 | | | 25,000 | | | — | | | — |
Holders of Finder Shares | | | | | | | | | | | | | | | | | ||||||||
Pickwick Capital Partners, LLC(22) | | | 4,000 | | | 4,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Holders of PIPE Shares and Private Warrants | | | | | | | | | | | | | | | | | ||||||||
SMALLCAP World Fund, Inc.(23) | | | 2,511,876 | | | 2,511,876 | | | — | | | — | | | — | | | — | | | — | | | — |
Highbridge Tactical Credit Master Fund, L.P.(24) | | | 753,974 | | | 753,974 | | | — | | | — | | | — | | | — | | | — | | | — |
Highbridge SPAC Opportunity Fund, L.P.(25) | | | 746,026 | | | 746,026 | | | — | | | — | | | — | | | — | | | — | | | — |
Kamunting Street Master Fund, Ltd.(26) | | | 500,503 | | | 500,503 | | | — | | | — | | | — | | | — | | | — | | | — |
XZAR Momentus LLC(27) | | | 2,000,000 | | | 2,000,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Charles Schein Family Partners LLC(28) | | | 200,000 | | | 200,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Kinobody Fitness Inc.(29) | | | 100,000 | | | 100,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Michael Schein Family Partners LLC(30) | | | 100,000 | | | 100,000 | | | — | | | — | | | — | | | — | | | — | | | — |
| | Shares of Class A Stock | | | Warrants to Purchase Class A Stock | |||||||||||||||||||
Name | | | Number Beneficially Owned Prior to Offering | | | Number Registered for Sale Hereby | | | Number Beneficially Owned After Offering* | | | Percent Owned After Offering* | | | Number Beneficially Owned Prior to Offering | | | Number Registered for Sale Hereby | | | Number Beneficially Owned After Offering | | | Percent Owned After Offering |
MR Scale Series MS LLC(31) | | | 1,400,000 | | | 1,400,000 | | | — | | | — | | | — | | | — | | | — | | | — |
TRC Venture Fund II LLC(32) | | | 100,000 | | | 100,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Exempt Trust for Edgar D. Jannotta eu Edgar D. Jannotta 2010 Family Trust(33) | | | 200,000 | | | 200,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Edward Cochran(34) | | | 100,000 | | | 100,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Kantstraat LLC(35) | | | 25,000 | | | 25,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Tribe Capital VI, LLC Series 6(36) | | | 1,000,000 | | | 1,000,000 | | | — | | | — | | | — | | | — | | | — | | | — |
West Coast Equity Partners LLC(37) | | | 2,390,000 | | | 2,390,000 | | | — | | | — | | | — | | | — | | | — | | | — |
Affiliates of Momentus (Holders of Merger Consideration Shares and/or Rollover Options) | | | | | | | | | | | | | | | | | ||||||||
Entities associated with Prime Movers Lab(38) | | | 26,471,648 | | | 26,471,648 | | | — | | | — | | | — | | | — | | | — | | | — |
Dawn Harms(39) | | | 250,712 | | | 250,712 | | | — | | | — | | | — | | | — | | | — | | | — |
Holders of Shares Issued Upon Exercise of Options | | | | | | | | | | | | | | | | | ||||||||
Former Employees(40) | | | 274,230 | | | 274,230 | | | — | | | — | | | — | | | — | | | — | | | — |
Holders of Shares Issuable Upon Exercise of Options | | | | | | | | | | | | | | | | | ||||||||
Former Employees(40) | | | 298,283 | | | 298,283 | | | — | | | — | | | — | | | — | | | — | | | — |
(1) | Represents 1,261,029 shares of Class A Stock held by SRC-NI Holdings, LLC, SRAC’s sponsor (the “Sponsor”). Brian Kabot, Juan Manuel Quiroga and Edward Freedman are the managers of the Sponsor and have voting and investment discretion with respect to the securities held by the Sponsor. As such, each of them may be deemed to share beneficial ownership of the securities held directly by the Sponsor. Each of them disclaims beneficial ownership of the securities, except to the extent of his pecuniary interest therein. The business address of the Sponsor is 1345 Abbot Kinney Blvd., Venice, California 90291. |
(2) | Represents 834,142 shares of Class A Common Stock and warrants to purchase 396,001 shares of Class A Common Stock held by Stable Road Capital LLC. Edward Freedman is the sole member of Stable Road Capital LLC and therefore may be deemed to possess beneficial ownership of the securities held directly by Stable Road Capital LLC. The address of Stable Road Capital LLC is c/o Stable Road Capital LLC 1345 Abbot Kinney Boulevard Venice, CA 90291. |
(3) | Represents 200,000 shares of Class A Common Stock and warrants to purchase 754,425 shares of Class A Common Stock held by DIBALYD Investments LLC. Emilio Diez Barroso, Emilio Diez Barroso Azcarraga, Jorge Vargas and Fernando Diez are managers of DIBALYD Investments LLC and therefore may be deemed to have voting and dispositive power over the shares held by DIBALYD Investments LLC. Each of them disclaims beneficial ownership of the securities, except to the extent of his pecuniary interest therein. The address of DIBALYD LLC is 225 Santa Monica Blvd, Suite 500, Santa Monica, CA 90401. |
(4) | Represents 222,097 shares of Class A Common Stock and warrants to purchase 11,875 shares of Class A Common Stock held by Nala Investments LLC. The address of Nala Investments LLC is 225 Santa Monica Blvd, Suite 500, Santa Monica, CA 90401. |
(5) | Represents (i) 80,711 shares of Class A Common Stock and warrants to purchase 12,500 shares of Class A Common Stock held by James A. Hofmockel; and (ii) 8,776 shares of Class A Common Stock and warrants to purchase 7,460 shares of Class A Common Stock held by Hofmockel Investments, LLC. The address of Mr. Hofmockel is 202 Country Club Dr, Mchenry, IL 60050. |
(6) | Represents 39,959 shares of Class A Common Stock and warrants to purchase 38,609 shares of Class A Common Stock held by JW Capital, LLC. Jonathan M. Waterman is the manager of JW Capital, LLC and therefore may be deemed to have voting and dispositive power over the shares held by JW Capital, LLC. The address of JW Capital, LLC is 1100 Glendon Avenue, Suite 1200, Los Angeles, CA 90012. |
(7) | Represents warrants to purchase 5,000 shares of Class A Common Stock held by Douglas C. Gessner Revocable Trust. The address of Douglas C. Gessner Revocable Trust is 1111 Wagner Road, Glenview, IL 60025. |
(8) | Represents warrants to purchase 25,000 shares of Class A Common Stock held by CR Financial Holdings, Inc. The address of CR Financial Holdings, Inc. is 1601 Washington Ave. #320, Miami Beach, FL 33139. |
(9) | Represents warrants to purchase 62,390 shares of Class A Common Stock held by South Pacific Investment Holdings LLC. Baraterre Limited is the manager of South Pacific Investment Holdings LLC and therefore may be deemed to have voting and dispositive power over the shares held by South Pacific Investment Holdings LLC. The address of South Pacific Investment Holdings LLC is C/O J.P. Morgan Trust Company (Bahamas) Limited, Bahamas Financial Centre, 2/FL, Shirley & Charlotte Streets, P.O. Box N-4899, Nassau, Bahamas. |
(10) | Represents warrants to purchase 49,505 shares of Class A Common Stock held by HKE2. Pamela Castanon is the director of HKE2 and therefore may be deemed to have voting and dispositive power over the shares held by HKE2. The address of HKE2 is PO Box 780, Grand Cayman, Cayman Islands KY1-90. |
(11) | Represents warrants to purchase 3,730 shares of Class A Common Stock held by Allegro Capital, LLC. The address of Allegro Capital, LLC is 655 Deerfield Rd. Suite 100 #324, Deerfield, IL 60015. |
(12) | Represents warrants to purchase 18,649 shares of Class A Common Stock held by MYW Holdings, LLC. The address of MYW Holdings, LLC is 1296 Somerset Road, Teaneck, NJ 07666. |
(13) | Represents warrants to purchase 37,298 shares of Class A Common Stock held by John Jiang. The address of Mr. Jiang is 7000 Bahia Beach Blvd, Unit 2211, Rio Grande, PR 00745. |
(14) | Represents warrants to purchase 7,460 shares of Class A Common Stock held by Andrew Perry. The address of Mr. Perry is 111 S. Quincy Ave, Margate, NJ 08402. |
(15) | Represents warrants to purchase 198,020 shares of Class A Common Stock held by Randolph Street Ventures, L.P. - 2020-98. The address of Randolph Street Ventures, L.P. - 2020-98 is 300 North LaSalle Street, 10th Floor, Chicago, IL 60654. |
(16) | Represents 8,776 shares of Class A Common Stock and warrants to purchase 7,460 shares of Class A Common Stock held by Andrew Simpson. The address of Mr. Simpson is 13428 Maxella Ave, #554, Marina Del Rey, CA 90292. |
(17) | Represents 11,648 shares of Class A Common Stock and warrants to purchase 9,901 shares of Class A Common Stock held by Alyssa M. Nobriga. The address of Ms. Nobriga is 575 Moreno Ave, Los Angeles, CA 90049. |
(18) | Represents warrants to purchase 37,298 shares of Class A Common Stock held by Frostwood Corp. Noble Invest & Trade Inc. is the sole director of Frostwood Corp. and therefore may be deemed to have voting and dispositive power over the shares held by Frostwood Corp. The address of Frostwood Corp. is Aleman, Cordero, Galindo & Lee (Bahamas) Limited. Winterbotham Place, Marlborough & Queen Streets. P.O. Box CB 11.343, Nassau, Bahamas. |
(19) | Represents warrants to purchase 14,919 shares of Class A Common Stock held by Flamingo Drive Partners LLC. The address of Flamingo Drive Partners LLC is 300 West 41st St., Miami Beach, FL 33140. |
(20) | Represents 121,635 shares of Class A Common Stock held by Ken Leonard. The address of Ken Leonard is 634 Westgate Road, Deerfield, IL 60015. |
(21) | Represents 50,000 shares of Class A Common Stock and warrants to purchase 25,000 shares of Class A Common Stock held by Cantor Fitzgerald and Co. (“Cantor”). Howard W. Lutnick, through indirect beneficial ownership of the general partners of Cantor, has voting and investment control over these shares. Cantor’s sales and trading division may purchase and sell common shares or other securities of the Company in the open market in the ordinary course of its brokerage business as a market maker or otherwise on behalf of customers. These shares are not included in the table above. The address of Cantor is 110 East 59th Street 7th Floor, New York, Y 10022. |
(22) | Represents 4,000 shares of Class A Common Stock held by Pickwick Capital Partners, LLC. Douglas Greenwood and David Danovitch are managers of Pickwick Capital Partners, LLC and therefore may be deemed to have voting and dispositive power over the shares held by Pickwick Capital Partners. The address of Pickwick Capital Partners is 445 Hamilton Ave, Suite 1102, White Plains, NY 10601. |
(23) | Represents 286,876 shares of Class A Common Stock and warrants to purchase 2,225,000 shares of Class A Common Stock held by SMALLCAP World Fund, Inc. Julian N. Abdey, Michael Beck, Peter Eliot, Brady L. Enright, Bradford F. Free, Leo Hee, Roz Hongsaranagon, Jonathan Knowles, Harold H. La, Dimitrije M. Mitrinovic, Aidan O’Connell, Samir Parekh, Andraz Razen, Renaud H. Samyn, Arun Swaminathan and Gregory W. Wendt, as portfolio managers, have voting and investment power over the securities held by SMALLCAP World Fund, Inc. The address of SMALL CAP World Fund, LLC is 333 South Hope Street 55th Floor Los Angeles, CA 90071. |
(24) | Represents warrants to purchase 753,974 shares of Class A Common Stock held by Highbridge Tactical Credit Master Fund, L.P. Highbridge Capital Management, LLC, the trading manager of Highbridge Tactical Credit Master Fund, L.P. (the “Highbridge Fund”), may be deemed to be the beneficial owner of the shares held by the Highbridge Fund. The address of Highbridge Capital Management, LLC is 277 Park Avenue, 23rd Floor, New York, NY 10172, and the address of the Highbridge Fund is c/o Maples Corporate Services Limited, PO Box 309, Ugland House, South Church Street, George Town, Grand Cayman KY1-1104, Cayman Islands. |
(25) | Represents warrants to purchase 746,026 shares of Class A Common Stock held by Highbridge SPAC Opportunity Fund, L.P. Highbridge Capital Management, LLC, the trading manager of Highbridge SPAC Opportunity Fund, L.P. (the “Highbridge SPAC Fund”), may be deemed to be the beneficial owner of the shares held by the Highbridge SPAC Fund. The address of Highbridge Capital Management, LLC is 277 Park Avenue, 23rd Floor, New York, NY 10172, and the address of the Highbridge SPAC Fund is c/o Maples Corporate Services Limited, PO Box 309, Ugland House, South Church Street, George Town, Grand Cayman KY1-1104, Cayman Islands. |
(26) | Represents 100,503 shares of Class A Common Stock and warrants to purchase 400,000 shares of Class A Common Stock held by Kamunting Street Master Fund, Ltd. Allan Teh is the Chief Executive Officer of Kamunting Street Capital Management, L.P., the manager of Kamunting Street Master Fund, Ltd. and therefore may be deemed to have voting and dispositive power over the shares held by Kamunting Street Master Fund, Ltd. The address of Kamunting Street Fund, Ltd. is 119 Washington Ave. Suite 600, Miami Beach, FL 33139. |
(27) | Represents 1,000,000 shares of Class A Common Stock and warrants to purchase 1,000,000 shares of Class A Common Stock held by Xzar Momentus LLC. The address of Xzar Momentus LLC is 13916 W. Sunset Blvd, Pacific Palisades, CA 90272. |
(28) | Represents 100,000 shares of Class A Common Stock and warrants to purchase 100,000 shares of Class A Common Stock held by Charles Schein Family Partners LLC. The address of Charles Schein Family Partners LLC is 1003 Benedict Canyon Drive Beverly Hills, CA 90210. |
(29) | Represents 50,000 shares of Class A Common Stock and warrants to purchase 50,000 shares of Class A Common Stock held by Kinobody Fitness Inc. The address for Kinobody Fitness Inc. is 27 Blyth Hill Road, Toronto, Ontario, Canada. |
(30) | Represents 50,000 shares of Class A Common Stock and warrants to purchase 50,000 shares of Class A Common Stock held by Michael Schein Family Partners LLC. The address of Michael Schein Family Partners LLC is 400 Evelyn Pl., Beverly Hills, CA 90210. |
(31) | Represents 700,000 shares of Class A Common Stock and warrants to purchase 700,000 shares of Class A Common Stock held by MR Scale Series M1 LLC. Pavel Cherkashin is a managing partner of MR Scale Series M1 LLC and therefore, may be deemed to have voting and dispositive power over the shares held by MR Scale Series M1 LLC. The address of MR Scale Series M1 LLC is 149 New Montgomery Street, Suite 434, San Francisco, CA 94105. |
(32) | Represents warrants to purchase 100,000 shares of Class A Common Stock held by TRC Venture Fund II. Genesis Guanga is the managing member of TRC Venture Fund II and therefore may be deemed to have voting and dispositive power over the shares held by TRC Venture Fund II. The address for TRC Venture Fund II is 320 Hall Street, Suite 201, Grand Rapids, MI 49507. |
(33) | Represents 100,000 shares of Class A Common Stock and warrants to purchase 100,000 shares of Class A Common Stock held by the Exempt Trust for Edgar D. Jannotta eu Edgar D. Jannotta 2010 Family Trust (the “Jannotta Family Trust”). Edgar D. Jannotta Jr., as trustee of the Jannotta Family Trust, may be deemed the beneficial owner of shares held by the Jannotta Family Trust. The address of the Exempt Trust for Edgar D. Jannotta eu Edgar D. Jannotta 2010 Family Trust is P.O. Box 504, Teton Village, WY 83025. |
(34) | Represents 50,000 shares of Class A Common Stock and warrants to purchase 50,000 shares of Class A Common Stock held by Edward Cochran. The business address of Edward Cochran is 20030 Marchmont Rd. Shaker Heights, OH 44122. |
(35) | Represents warrants to purchase 25,000 shares of Class A Common Stock held by Kantstraat LLC. Brandon Kanitz is a managing member of Thornapple River Capital, the sole manager of Kantstraat LLC, and therefore, may be deemed to have voting and dispositive power over the shares held by Kantstraat LLC. The address of Kantstraat LLC is 320 Hall Street, Suite 201, Grand Rapids, MI 49507. |
(36) | Represents 500,000 shares of Class A Common Stock and warrants to purchase 500,000 shares of Class A Common Stock held by Tribe Capital VI, LLC Series 6. Tribe Capital VI, LLC Series 6 is a series limited liability company. The manager of Tribe Capital VI, LLC Series 6 is Tribe Capital Partners VI, LLC. Tribe Capital Partners VI, LLC is in turn managed by Tribe Capital Management, LLC, a registered investment adviser. As such, Tribe Capital Partners VI, LLC and Tribe Capital Management, LLC may be deemed to have beneficial ownership of the securities over which Tribe Capital VI, LLC Series 6 has voting or dispositive power. Tribe Capital Management, LLC is controlled by its members, that act by unanimous approval and which ultimately possess voting and dispositive power with respect to the shares held by Tribe Capital VI, LLC Series 6. The individual members of Tribe Capital Management, LLC are Arjun Sethi, Theodore Maidenberg, and Jonathan Hsu. The address of Tribe Capital VI, LLC Series 6 is 2700 19th Street San Francisco, CA 94110. |
(37) | Represents 1,190,000 shares of Class A Common Stock and warrants to purchase 1,200,000 shares of Class A Common Stock held by West Coast Equity Partners LLC. Alexander Lazovsky is the managing member of West Coast Equity Partners LLC and therefore may be deemed to have voting and dispositive power over the shares held by West Coast Equity Partners LLC. The address of West Coast Equity Partners LLC is 16192 Coastal Highway, Lewes, DE 19958. |
(38) | Includes (i) 15,166,661 shares held by PML, (ii) 6,011,780 shares held of record by Momentus PML SPV 1 LP (“PML SPV 1”), (iii) 960,830 shares held of record by Momentus PML SPV 2 LP (“PML SPV 2”), (iv) 2,383,123 shares held of record by Momentus PMS SPV3 LP (“PML SPV 3”) and (v) 949,254 shares of Class A Common Stock and warrants to purchase 1,000,000 shares of Class A Common Stock held by Prime Movers Growth Fund I LP (“PMG”). Prime Movers Lab GP I LLC (“PML GP”), is the general partner of PML, PML SPV 1, PML SPV 2, PML SPV 3 and PMG. Dakin Sloss is the manager of PML GP and may be deemed to have or share beneficial ownership of the shares held by PML, PML SPV 1, PML SPV 2 and PML SPV 3. The mailing address of PML, PML SPV 1, PML SPV 2 and PML SPV 3 is P.O. Box 12829, Jackson, WY 83002. |
(39) | Consists of 250,712 shares of Class A Common Stock issuable upon exercise of options. |
(40) | Consists of (i) 65,946 shares of Class A Common Stock held by Jason Hummelt, (ii) 208,284 shares of Class A Common Stock held by Alexander Wicks, and (iii) 298,283 shares of Class A Common Stock issuance upon exercise of options held by Vincent J. Deno. |
• | 250,000,000 shares of Class A common stock, $0.00001 par value per share; and |
• | 20,000,000 shares of undesignated Preferred Stock, $0.00001 par value per share (“Preferred Stock”). |
• | in whole and not in part; |
• | at a price of $0.01 per warrant; |
• | upon not less than 30 days’ prior written notice of redemption given after the Public Warrants become exercisable (the “30-day redemption period”) to each holder of Public Warrants; and |
• | if, and only if, the reported last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing once the warrants become exercisable and ending three business days before Momentus sends the notice of redemption to the holders of Public Warrants. |
• | prior to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder; |
• | the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, but not the outstanding voting stock owned by the interested stockholder, (i) shares owned by persons who are directors and also officers and (ii) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or |
• | at or subsequent to the date of the transaction, the business combination is approved by the board of directors of the corporation and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder. |
• | a classified board of directors whose members serve staggered three-year terms; |
• | the authorization of “blank check” preferred stock, which could be issued by the Company’s board of directors without stockholder approval and may contain voting, liquidation, dividend and other rights superior to our Class A common stock; |
• | a limitation on the ability of, and providing indemnification to, our directors and officers; |
• | a requirement that special meetings of our stockholders can be called only by our board of directors acting by a written resolution by a majority the Company’s directors then in office, the Chairperson of the Company’s board of directors, the Company’s Chief Executive Officer or our Lead Independent Director; |
• | a requirement of advance notice of stockholder proposals for business to be conducted at meetings of the Company’s stockholders and for nominations of candidates for election to the Company’s board of directors; |
• | a requirement that our directors may be removed only for cause and by a two-thirds (2/3) vote of the stockholders; |
• | a prohibition on stockholder action by written consent; |
• | a requirement that vacancies on our board of directors may be filled only by a majority of directors then in office or by a sole remaining director (subject to limited exceptions), even though less than a quorum; and |
• | a requirement of the approval of the board of directors or the holders of at least two-thirds of our outstanding shares of capital stock to amend our bylaws and certain provisions of our charter. |
• | any breach of the director’s duty of loyalty to the Company or to its stockholders; |
• | acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; |
• | unlawful payment of dividends or unlawful stock repurchases or redemptions; and |
• | any transaction from which the director derived an improper personal benefit. |
• | purchases by a broker-dealer as principal and resale by such broker-dealer for its own account pursuant to this prospectus; |
• | ordinary brokerage transactions and transactions in which the broker solicits purchasers; |
• | block trades in which the broker-dealer so engaged will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction; |
• | an over-the-counter distribution in accordance with the rules of Nasdaq; |
• | through trading plans entered into by a Selling Securityholder pursuant to Rule 10b5-1 under the Exchange Act that are in place at the time of an offering pursuant to this prospectus and any applicable prospectus supplement hereto that provide for periodic sales of their securities on the basis of parameters described in such trading plans; |
• | short sales; |
• | distribution to employees, members, limited partners or stockholders of the Selling Securityholders; |
• | through the writing or settlement of options or other hedging transaction, whether through an options exchange or otherwise |
• | by pledge to secured debts and other obligations; |
• | delayed delivery arrangements; |
• | to or through underwriters or agents; |
• | in “at the market” offerings, as defined in Rule 415 under the Securities Act, at negotiated prices, at prices prevailing at the time of sale or at prices related to such prevailing market prices, including sales made directly on a national securities exchange or sales made through a market maker other than on an exchange or other similar offerings through sales agents; |
• | in privately negotiated transactions; |
• | in options transactions; and |
• | through a combination of any of the above methods of sale, as described below, or any other method permitted pursuant to applicable law. |
• | an individual who is a United States citizen or resident of the United States; |
• | a corporation or other entity treated as a corporation for United States federal income tax purposes created in, or organized under the law of, the United States or any state or political subdivision thereof; |
• | an estate the income of which is includible in gross income for United States federal income tax purposes regardless of its source; or |
• | a trust (A) the administration of which is subject to the primary supervision of a United States court and which has one or more United States persons (within the meaning of the Code) who have the authority to control all substantial decisions of the trust or (B) that has in effect a valid election under applicable Treasury regulations to be treated as a United States person. |
• | the gain is effectively connected with the conduct of a trade or business by the non-U.S. Holder within the United States (and, if an applicable tax treaty so requires, is attributable to a U.S. permanent establishment or fixed base maintained by the non-U.S. Holder); |
• | the non-U.S. Holder is an individual who is present in the United States for 183 days or more in the taxable year of disposition and certain other conditions are met; or |
• | we are or have been a “United States real property holding corporation” for U.S. federal income tax purposes at any time during the shorter of the five-year period ending on the date of disposition or the period that the non-U.S. Holder held our Class A Stock or Warrants and, in the case where shares of our Class A Stock are regularly traded on an established securities market, the non-U.S. Holder has owned, directly or constructively, more than 5% of our Class A Stock at any time within the shorter of the five-year period preceding the disposition or such Non-U.S. holder’s holding period for the shares of our Class A Stock. There can be no assurance that our Class A Stock will be treated as regularly traded on an established securities market for this purpose. |
Item 14. | Other Expenses of Issuance and Distribution. |
| | Amount | |
SEC registration fee | | | $65,370.54** |
Legal fees and expenses | | | * |
Accounting fees and expenses | | | * |
Miscellaneous | | | * |
Total | | | $* |
* | These fees are calculated based on the securities offered and the number of issuances and accordingly cannot be defined at this time. |
** | Previously paid. |
Item 15. | Indemnification of Directors and Officers. |
Item 16. | Exhibits and Financial Statement Schedules. |
(a) | Exhibits. |
Exhibit No. | | | Description |
| | Second Amended and Restated Certificate of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on August 18, 2021). | |
| | Amended and Restated Bylaws of the Company (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed on August 18, 2021). | |
| | Specimen Class A Common Stock Certificate (incorporated by reference to Exhibit 4.2 to the Company’s Registration Statement on Form S-1/A (File No. 333-233980), filed on October 10, 2019). | |
| | Warrant Agreement, dated November 7, 2019, between Continental Stock Transfer & Trust Company and SRAC (incorporated by reference to the Company’s Current Report on Form 8-K filed on November 13, 2019). | |
| | Specimen Warrant Certificate (incorporated by reference to Exhibit 4.3 to the Company’s Registration Statement on Form S-1 (Registration No. 333-233980) filed on October 10, 2019). | |
| | Opinion of Orrick, Herrington & Sutcliffe LLP (incorporated by reference to Exhibit 5.1 to the Registration Statement on Form S-1 filed by the registrant on September 3, 2021). | |
| | Consent of Armanino LLP. | |
| | Consent of Orrick, Herrington & Sutcliffe LLP (included in Exhibit 5.1). | |
| | Power of Attorney (included on the signature page). | |
| | Filing Fee Table |
Item 17. | Undertakings. |
(a) | The undersigned registrant hereby undertakes: |
(1) | To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: |
(i) | To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; |
(ii) | To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and |
(iii) | To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; |
(2) | That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
(3) | To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. |
(4) | That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering being made pursuant to Rule 415(a)(1)(i), (vii) or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date. |
(5) | That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: |
(i) | Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424; |
(ii) | Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; |
(iii) | The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and |
(iv) | Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser. |
(6) | The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant’s annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
(b) | Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue. |
| | MOMENTUS INC. | ||||
| | | | |||
| | By: | | | /s/ John C. Rood | |
| | | | John C. Rood | ||
| | | | Chief Executive Officer, President and Chairperson of the Board of Directors |
Signature | | | Title | | | Date | |
| | | | | |||
/s/ John C. Rood | | | Chief Executive Officer, President and Chairman of the Board of Directors (Principal Executive Officer) | | | September 9, 2022 | |
John C. Rood | | ||||||
| | | | | |||
/s/ Jikun Kim | | | Chief Financial Officer (Principal Financial and Accounting Officer) | | | September 9, 2022 | |
Jikun Kim | | ||||||
| | | | | |||
/s/ Chris Hadfield | | | Director | | | September 9, 2022 | |
Chris Hadfield | | ||||||
| | | | | |||
/s/ Brian Kabot | | | Director | | | September 9, 2022 | |
Brian Kabot | | ||||||
| | | | | |||
/s/ Mitchel B. Kugler | | | Director | | | September 9, 2022 | |
Mitchel B. Kugler | | ||||||
| | | | | |||
/s/ Victorino Mercado | | | Director | | | September 9, 2022 | |
Victorino Mercado | | ||||||
| | | | | |||
/s/ Kimberly A. Reed | | | Director | | | September 9, 2022 | |
Kimberly A. Reed | | ||||||
| | | | | |||
/s/ Linda J. Reiners | | | Director | | | September 9, 2022 | |
Linda J. Reiners | | | | |
ArmaninoLLP
|
|
San Ramon, California
|
Security Type
|
Security
Class
Title
|
Fee
Calculation or Carry Forward Rule |
Amount
Registered (1) |
Proposed
Maximum Offering Price Per Unit (2)
|
Maximum
Aggregate
Offering
Price
|
Fee
Rate
|
Amount of
Registration Fee |
|
Newly Registered Securities
|
||||||||
Fees To
Be Paid
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
Fees
Previously
Paid
|
Equity
|
Class A Common Stock, par value $0.00001 per share
|
Rule 457(c)
|
63,204,637(2)
|
$9.48(3)
|
$599,179,958.76
|
$0.00010910
|
$65,370.54(2)
|
Carry Forward Securities
|
||||||||
Carry
Forward Securities
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
Total Offering Amounts
|
$599,179,958.76
|
$65,370.54
|
||||||
Total Fees Previously Paid
|
$65,370.54(2)
|
|||||||
Total Fee Offsets
|
—
|
|||||||
Net Fee Due
|
$0
|
(1)
|
Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act”), there are also being registered an
indeterminable number of additional securities as may be issued to prevent dilution resulting from share splits, share dividends or similar transactions.
|
(2)
|
On September 3, 2021, 63,204,637 shares of Class A Common Stock were registered for sale by the selling securityholders named in the
registration statement (Registration No. 333-259281). In connection therewith, a registration fee of $65,370.54 was paid by Momentus Inc.
|
(3)
|
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) under the Securities Act, based upon the average of the
high and low prices of the Class A Common Stock on August 30, 2021, as reported on The Nasdaq Stock Market LLC.
|