Stable Road Shareholders Approve Plan to Take Momentus Public

VENICE, Calif. (Stable Road Acquisition Corp. PR) — Stable Road Acquisition Corp. (NASDAQ: SRAC, SRACU, and SRACW) (“Stable Road”) announced today that stockholders of Stable Road approved the proposed business combination with Momentus Inc. (“Momentus”), a U.S. commercial space company that plans to offer in-space infrastructure services, at the special meeting of stockholders (the “Special Meeting”) held on August 11, 2021.

The combined company will retain the Momentus name and its securities are expected to begin trading on the NASDAQ Global Select Market under the new symbol “MNTS” for Momentus stock and “MNTSW” for Momentus warrants on August 13, 2021, following the close of the business combination, which is expected to take place on August 12, 2021.

Over 97% of the votes cast at the meeting voted to approve the business combination. Holders of approximately 55% percent of Stable Road’s issued and outstanding shares cast votes at the Special Meeting.

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SEC Announces Charges Against Momentus, Stable Road and Their CEOs for Misleading Claims in SPAC Merger

Mikhail Kokorich

WASHINGTON, D.C., July 13, 2021 (SEC PR) — The Securities and Exchange Commission today announced charges against special purpose acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, its CEO Brian Kabot, the SPAC’s proposed merger target Momentus Inc., and Momentus’s founder and former CEO Mikhail Kokorich for misleading claims about Momentus’s technology and about national security risks associated with Kokorich. The SEC’s litigation is proceeding against Kokorich, against whom the SEC filed a complaint in the U.S. District Court for the District of Columbia. All other parties are settling with the SEC, with terms including total penalties of more than $8 million, tailored investor protection undertakings, and the SPAC sponsor’s forfeiture of founder’s shares it stands to receive if the merger, currently scheduled for August 2021, is approved.

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Stable Road Shareholders Approve Extension for Vote on Momentus Merger

SANTA CLARA, Calif. (Stable Road Acquisition Co. PR) — Stable Road Acquisition Corp. (NASDAQ: SRAC, SRACU, and SRACW) (“Stable Road” or the “Company”) announced today that at the special meeting of stockholders (the “Special Meeting”) held on May 13, 2021, the Company’s stockholders approved a proposal to extend the deadline by which the Company has to consummate the proposed business combination with Momentus Inc. (“Momentus”) from May 13, 2021 to August 13, 2021 (the “Extension Amendment Proposal”).

Brian Kabot, Chairman and Chief Executive Officer of Stable Road, commented on the results of the meeting, “We are very pleased by the overwhelming support for the Extension Amendment Proposal exhibited by our stockholders, with approximately 66.2% of all outstanding shares, and approximately 98.6% of shares that voted on the proposal, being cast in favor of the proposal. We appreciate our stockholders’ strong engagement and look forward to advancing the proposed business combination with Momentus.”

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Wall Street Thinks Most SPACs are a Joke

Richard Branson celebrates the first Virgin Galactic trade on the New York Stock Exchange after merging with a special purpose acquisition company (SPAC). (Credit Virgin Galactic)

by Douglas Messier
Managing Editor

Over at Fast Company, William D. Cohan says professional investors and financial analysts have a low opinion of the special purpose acquisition companies (SPACs), which are being used by Virgin Galactic and six other space companies to go public. (SPACs are an inside joke on Wall Street, and the joke is on you)

SPACs are investment vehicles that are already publicly traded on the stock exchange. Their goal is to acquire or merge with other companies, which then go public under their own names.

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Why Virgin Galactic Went SPAC

Richard Branson celebrates the first Virgin Galactic trade on the New York Stock Exchange. (Credit Virgin Galactic)

by Douglas Messier
Managing Editor

During the SmallSat Symposium last week, Richard Branson was asked why Virgin Galactic had gone public using a special purpose acquisition company (SPAC).

“I’m impatient. The SPAC gets through all of the rigmarole of public companies. Yes, I thought, that’s great, let’s do it,” he replied.

Branson was half right. A SPAC makes it a lot easier for a company to go public. But, impatience was probably not the main reason Virgin Galactic went SPAC.

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Momentus and Qosmosys Announce First Singaporean Lunar Mission on Momentus’ Ardoride Service Vehicle

SANTA CLARA, Calif. (Momentus PR) — Momentus Inc. (“Momentus” or the “Company”), a commercial space company offering in-space infrastructure services, and Qosmosys, a new space venture founded in Singapore last year, announced today a service agreement to deliver two cubesats to low lunar orbit as early as 2024 via Momentus’ inaugural lunar mission.

The new contract builds and expands on the agreement announced in January 2021 for delivery of up to four cubesats in low Earth orbit by Momentus’ Vigoride service vehicle, starting in 2022. Qosmosys will expand its novel business ideas to the Moon using a specific bus named Zeus-MS, a version of its Zeus platform it has been developing in cooperation with NuSpace from Singapore, and made specific for lunar missions. Zeus-MS is the precursor to a series of multi-mission platforms that will allow organizations and businesses to host their payloads, and will offer individuals a bespoke, unprecedented line of services to the Moon on regularly scheduled flights.

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Momentus’ Russian CEO Resigns Over National Security, Foreign Ownership Concerns

Mikhail Kokorich

SANTA CLARA, Calif., January 25, 2021 (Momentus PR)–Momentus Inc. (“Momentus” or the “Company”), a commercial space company offering in-space infrastructure services, today announced its Board of Directors has appointed Dawn Harms, the Company’s Chief Revenue Officer, as a director and interim CEO effective immediately, following the resignation of director and founding CEO Mikhail Kokorich.

Momentus, in consultation with the Company’s announced SPAC partner, Stable Road Acquisition Corp. (“Stable Road”), has determined that accepting Mr. Kokorich’s resignation is in the best interest of the Company, in an effort to expedite the resolution of U.S. government national security and foreign ownership concerns surrounding the Company, the existence of which the Company recently has confirmed.

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Momentus Announces Service Agreement with Qosmosys

SANTA CLARA, Calif., January 21, 2021 (Momentus PR) – Momentus Inc. (“Momentus” or the “Company”), a commercial space company offering in-space infrastructure services, and Qosmosys, a new venture founded in Singapore last year, today announced a service agreement for two 3UXL protoflight cubesats in 2022, followed by two options in 2023.

“Momentus has exported the spirit of Silicon Valley to Singapore, bringing some fresh perspectives to launch services. Our Qosmosys missions demand a purposeful use of orbits, therefore, with Momentus, we clearly take significant benefits with their injection precision,” said Francois Dubrulle, founder of Qosmosys. “Moreover, Momentus offers an effective solution for Qosmosys for assured access to space, flying on a regular schedule with SpaceX, and adding extra flexibility and customization to our myriad of spacecraft to be launched.”

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Momentus Selects Redwire to Develop Robotics Systems for Reusable In-Space Transportation Vehicle

Artist’s conception depicting a Made In Space Europe robotic arm fixed to a Momentus Vigoride spacecraft. (Credit: Made in Space Europe)

JACKSONVILLE, Fla., January 14, 2021 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, has been selected by Momentus, a commercial space company offering in-space infrastructure services, to develop robotics systems for their next generation Vigoride in-space transportation vehicle. The multi-phase contract will include a system architecture study and delivery of a flight-qualified robotics system that will operate on a flight demonstration in 2022. The agreement builds on the Memorandum of Understanding between Redwire and Momentus that was announced in September 2020.

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Momentus Announces Service Agreement with Orbit NTNU for SelfieSat

Vigoride (Credit: Momentus)

SANTA CLARA, Calif., January 07, 2021 (Momentus PR) — Momentus Inc. (“Momentus” or the “Company”), a commercial space company offering in-space infrastructure services, and Orbit NTNU (https://www.orbitntnu.com/), a non-profit student organization stationed at the Norwegian University of Science and Technology in Trondheim designing and building cubesats, today announced a service agreement for the 2U cubesat: SelfieSat.

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Momentus Pulls Vigoride From SpaceX Falcon 9 Transporter-1 Launch

Vigoride (Credit: Momentus)

SANTA CLARA, Calif. (Momentus PR) –Momentus Inc. (“Momentus” or the “Company”), a commercial space company providing in-space infrastructure services announced today that it will be remanifesting its January 2021 mission to a subsequent launch opportunity in 2021. This move will allow for the additional time necessary to secure FAA approval of Momentus’ payloads, including completion of a standard interagency review. Momentus currently holds all other necessary licenses for its Vigoride vehicle.

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Momentus Announces First Rideshare Mission to Moon

Momentus’ Ardoride, which has an anticipated payload capability of 500-4,000kg, 5km/s of delta-V, and capabilities within MEO, GEO, HEO. (Credit: Momentus)

New Ardoride vehicle will pave the way to regular rideshares to orbits beyond LEO

SANTA CLARA, Calif., December 01, 2020 (Momentus PR) — Momentus Inc. (“Momentus” or the “Company”), a commercial space company providing in-space infrastructure services, signed a deal with Canadensys Aerospace Corporation to deliver a payload to low lunar orbit (LLO). Canadensys will be the first customer to book Ardoride, Momentus’ next-generation rideshare service vehicle.

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Momentus Announces New Launch and Transportation Service with Australia’s Gilmour Space

Eris rocket second stage separation. (Credit: Gilmour Space Technologies)

SANTA CLARA, Calif., November 30, 2020 (Momentus PR) – Momentus Inc. (“Momentus” or the “Company”), a commercial space company offering in-space infrastructure services, and Gilmour Space Technologies, a leading hybrid rocket company based in Queensland, Australia, today announced a new agreement for launch and orbital transport services.

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Relativity Space Closes $500 Million Series D Financing

LOS ANGELES, November 23, 2020 (Relativity Space PR — Relativity Space, the first company to 3D print an entire rocket and build the largest metal 3D printers in the world, today announced it closed a $500 million Series D equity funding round.

The round was led by Tiger Global Management with participation from new investors Fidelity Management & Research Company LLC, Baillie Gifford, ICONIQ Capital, General Catalyst, XN, Senator Investment Group, and Elad Gil. Existing investors participating in the round include BOND, Tribe Capital, K5 Global, 3L, Playground Global, Mark Cuban, Spencer Rascoff, and Allen & Company LLC, among others.

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Momentus Announces Service Agreement for Gran Systems NUTSAT

Vigoride (Credit: Momentus)

SANTA CLARA, Calif, October 26, 2020 (Momentus PR) – Momentus Inc. (“Momentus” or the “Company”), a commercial space company providing in-space infrastructure services, and Gran Systems, a newspace service provider for Taiwainese and Southeast Asia, today announced a service agreement for Gran System’s 2U CubeSat NUTSAT to fly on Momentus’ December 2020 Vigoride demo mission.

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