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

7 Oct 2020, 11:00 UTC
Momentus to Become Public Through Merger with Stable Road Acquisition Corp.
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Merger to create the first publicly traded space infrastructure company at the forefront of the new space economyMomentus partners and customers include SpaceX, Lockheed Martin, and NASAMomentus 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 2021Pro 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 ...

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