Momentus Gets Green Light to Exit National Security Agreement

Momentus Inc., trading under the ticker MNTS on the NASDAQ, witnessed a surge in its shares on Wednesday. The company’s stocks soared following the announcement of its exit from the National Security Agreement (NSA) after receiving approval from the Committee on Foreign Investment in the United States (CFIUS).

Approval and Termination of NSA

The U.S. Department of the Treasury informed Momentus that it successfully fulfilled all requirements of the NSA entered into in July 2021. As a result, CFIUS greenlit Momentus’s departure from the agreement and the termination of the NSA.

Momentus CEO John Rood expressed gratitude for the conclusion of the arduous CFIUS process, acknowledging the efforts of the entire company. Rood emphasized the U.S. Government’s validation of the company’s accomplishments by terminating the National Security Agreement. He further asserted Momentus’s emergence from the rigorous process with a clean bill of health, free from any lingering security concerns.

Market Response

The company’s share market fluctuated significantly after the announcement. Benzinga Pro data revealed a trading volume of more than 20.35 million shares, eclipsing the stock’s 100-day average volume of less than 731,000 shares.

According to Benzinga Pro, Momentus shares closed up 42% at $1.02, signaling a massive leap in value.

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