Momentus (US:MNTS)2020-05-11 20:19Financial Performance - For the three months ended March 31, 2020, the company reported a net income of $259,471, consisting of interest income of $669,789 and operating costs of $236,879[102]. - Cash used in operating activities for the three months ended March 31, 2020, was $227,767, with net income offset by interest earned on marketable securities[105]. Initial Public Offering - The company completed its Initial Public Offering on November 13, 2019, raising gross proceeds of $172,500,000 from the sale of 17,250,000 Units[103]. - The company incurred transaction costs of $10,924,857 related to the Initial Public Offering, including $3,450,000 in underwriting fees[104]. Trust Account and Financing - As of March 31, 2020, the company had cash and marketable securities in the Trust Account totaling $173,396,298, intended for the initial Business Combination[106]. - The company may need to obtain additional financing to complete its initial Business Combination or to redeem a significant number of Public Shares[111]. - The company plans to use funds held outside the Trust Account primarily for identifying and evaluating target businesses[107]. Business Combination Timeline - The company has until May 13, 2021, to complete a Business Combination, after which a mandatory liquidation will occur if not completed[112]. Debt and Obligations - The company has no long-term debt or off-balance sheet financing arrangements as of March 31, 2020[113]. - The company has a contractual obligation to pay an affiliate of its Sponsor a monthly fee of $10,000 for office space and administrative support[114].