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Momentus' $25M raise reads better than the dilution headline, because it gives the microcap real runway and fresh institutional backing. It leaves about $76M in cash after years of living raise to raise, came from existing fundamental investors adding to positions, and was priced around $8.50, above the $3.75 and $5.40 deals earlier this year. The caution is real: it is close to 30% dilution in a thin-revenue, high-beta name. The stance is cautiously bullish for those who can handle the swings. x.comÂ
