Outer space cargo delivery company Momentus to go public through SPAC merger

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Momentus Inc. said Wednesday it is going public through a merger with “blank check” company Stable Road Acquisition Corp. , in a deal that values the space infrastructure company at about $1.2 billion. After the deal closes, which is expected to occur in early 2021, the combined company will be named Momentus Inc. and the stock will trade on the Nasdaq exchange under the ticker symbol “MNTS.” Momentus said it offers last-mile satellite and cargo delivery, payload hosting and in-orbit servicing options, in partnership with launch operators including SpaceX. “”Momentus is at the forefront of the new space economy and is poised to capitalize on the significant growth opportunity as a first mover; we believe in a future where humanity is equipped with all it needs to flourish throughout the solar system,” said Momentus Chief Executive Mikhail Kokorich. Shares of Stable Road, a special purpose acquisition company, also known as a “blank check” company, started trading in December 2019. Momentus is going public at a time that the Renaissance IPO ETF has rallied 71.6% year to date, while the S&P 500 has gained 4.0%.
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