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Space company Momentus, once valued at more than $1 billion, is running dangerously low on money
Space company Momentus warned shareholders in a securities filing on Friday that the company is running out of money and does not have a financial lifeline.
Momentus, once valued at more than $1 billion before going public via a special purpose acquisition company in 2021, abandoned plans for its next mission, which was to fly satellite customers in March. Momentus, once valued at more than $1 billion before going public via a SPAC in 2021, abandoned plans for its next mission, which was to fly satellite customers in March. Momentus pitched itself as a "last mile delivery" service for spacecraft, targeting the market for small satellites with its orbital transfer vehicle.
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