Momentus (US:MNTS)2020-08-11 20:27Financial Performance - For the three months ended June 30, 2020, the company reported a net income of $36,372, consisting of interest income of $355,824 and operating costs of $315,695[105]. - For the six months ended June 30, 2020, the company had a net income of $295,843, with interest income of $1,025,613 and operating costs of $552,574[106]. - Cash used in operating activities for the six months ended June 30, 2020, was $984,160, with net income offset by interest earned on marketable securities[110]. Cash and Securities - As of June 30, 2020, the company had cash and marketable securities in the Trust Account totaling $173,046,751[111]. - As of June 30, 2020, the company had cash of $933,897 outside the Trust Account for operational expenses and due diligence[112]. Initial Public Offering - The company raised gross proceeds of $172,500,000 from its Initial Public Offering, including the full exercise of the over-allotment option[108]. - The company incurred transaction costs of $10,924,857 related to its Initial Public Offering, which included $3,450,000 in underwriting fees[109]. Business Combination - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[111]. - The company has until May 13, 2021, to consummate a Business Combination, after which a mandatory liquidation may occur if not completed[116]. Debt and Financing - The company has no long-term debt or off-balance sheet financing arrangements as of June 30, 2020[117].