Momentus Inc. announced that it has issued six promissory notes in the aggregate principal amount of $500,000 on June 21, 2024. The transaction included participation from lenders Brian Kabot, Paul Ney, Chris Hadfield, John Rood, Victorino Mercado, and Mitchel Kugler, each a director and/or officer of the Company.
Each Secured Note has identical terms except for principal amount. The Secured Notes have a maturity date of September 30, 2024, and each Secured Note bears an interest rate of 5.12% per annum. The Company?s obligations under the Secured Notes are secured by senior liens on substantially all of the Company?s properties, rights and assets in favor of the Lenders. The Secured Note and the debt evidenced thereby, including all principal and interest, can be prepaid at any time.