Momentus Inc.

02/07/2024 | Press release | Distributed by Public on 02/07/2024 21:27

Submission of Matters to a Vote of Security Holders Form 8 K

Item 1.01
Entry into a Material Definitive Agreement

5.12% Secured Promissory Note due September 30, 2024
Momentus Inc. (the "Company") issued six promissory notes dated effective as of June 21, 2024 (each a "Secured Note" and collectively, the "Secured Notes") in the aggregate principal amount of $500,000 to Brian Kabot, Paul Ney, Chris Hadfield, John Rood, Victorino Mercado, and Mitchel Kugler, each a director and/or officer of the Company (individually, a "Lender" and collectively, the "Lenders").

The proceeds of the Secured Notes are to be used first for the payment of earned employee retention payments and the expenses of the Secured Notes, and thereafter for working capital and general corporate purposes.

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, and accelerate and become immediately due and payable upon a future financing by the Company as well as upon the occurrence of certain customary events of default, including failure to pay amounts owing when due and/or certain events involving a discontinuation of our business or certain types of proceedings involving insolvency, bankruptcy, receivership and the like.