Momentus to Become Public Through Merger with Stable Road Acquisition Corp.

  • Merger to create the first publicly traded space infrastructure company at the forefront of the new space economy
  • Momentus partners and customers include SpaceX, Lockheed Martin, and NASA
  • Momentus to become publicly listed through a business combination with Stable Road Acquisition Corp. (Nasdaq: SRAC, SRACU, SRACW) (“Stable Road”)
  • Combined company will have an estimated enterprise value of approximately $1.2 billion and will become listed on Nasdaq under the ticker symbol “MNTS” following expected transaction close in early 2021
  • Pro forma for the transaction, Momentus will have approximately $310 million in cash on the balance sheet, to be funded by Stable Road’s $172.5 million of cash held in trust (assuming no redemptions) and $175.0 million from a fully committed common stock PIPE at $10.00 per share, including investments from private equity growth investors, family offices and select top tier public institutional investors

SANTA CLARA, CA , October 7, 2020 (Momentus PR) — Momentus Inc. (“Momentus” or the “Company”), a commercial space company offering in-space transportation and infrastructure services, today announced it has signed a definitive merger agreement with Stable Road Acquisition Corp. (Nasdaq: SRAC, SRACU, SRACW) (“Stable Road”) that will result in the Company becoming publicly listed. Upon the closing of the transaction, the combined operating company will be named Momentus Inc. and its securities will be listed on Nasdaq and trade under the ticker symbol “MNTS.”

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George Whitesides to Fly on Early Virgin Galactic SpaceShipTwo Flight from Spaceport America

Richard Branson (l) and George Whitesides (r, back) walk with SpaceShipTwo pilots David Mackay and Mark Stucky after a successful glide flight. (Credit: Kenneth Brown)

by Douglas Messier
Managing Editor

A provision in George Whitesides’ contract has Virgin Galactic’s chief space officer — and possibly his wife, Loretta Hidalgo Whitesides — flying on one of SpaceShipTwo’s early suborbital flights from Spaceport America in New Mexico.

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Monday Musings: Brazil’s Choices, VG’s Finances & More

Launch trajectories from Alcantara (Credit: AEB)

by Douglas Messier
Managing Editor

A few thoughts as we begin week 403 of the Covid-19 lock down….

Location. Location. Location.

The three most important words in real estate. And Brazil’s Alcantara Launch Center has got it.

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Richard Branson’s Virgin Galactic Goes Public With Extravagant Promises to Keep

Richard Branson wears the SpaceShipTwo flight suit. (Credit: Virgin Galactic)

by Douglas Messier
Managing Editor

After 15 years of making extravagant but unkept promises to fly more than 600 “future astronauts” to space, Richard Branson must now please an entirely new group of people who are usually much shorter on patience: shareholders.

Following the completion last week of a merger with Social Capital Hedosophia (SCH), the British billionaire’s Virgin Galactic suborbital “space line” will begin trading under its own name on the New York Stock Exchange (NYSE) on Monday.

Going public now is an unusual move for a space tourism company that hasn’t flown a singlet tourist to space since Branson announced the SpaceShipTwo program in 2004. Some might see it has putting the cart before the horse.

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