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Momentus Uses a Reverse Stock Split to Raise Share Price

Rachel Jewett By
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Momentus Uses a Reverse Stock Split to Raise Share Price
A rendering of Momentus’ Vigoride in-space shuttle. Photo: Momentus

In-space transportation company Momentus executed a reverse stock split on Wednesday, to raise the price of its shares so the company can continue trading on the Nasdaq stock exchange. Momentus, which is led by former Pentagon policy chief John Rood, was set to execute the reverse stock split at 11:59 p.m. on Aug. 23 at a 1-for-50 ratio. This means that every 50 shares of Momentus will become one share, reducing the number of outstanding shares of common from approximately 98 million…

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