Stable Road Acquisition Corp and Momentus Amended Merger Agreement and Revised Financial Outlook
June 30, 2021
Stable Road Acquisition Corp (SRAC) and Momentus amended their merger agreement to reflect an 18-month delay in Momentus’ planned orbital transfer vehicle launch schedule. The revision also changes the deal valuation and increases the expected ownership of the combined company for SRAC stockholders and PIPE investors to about 45%, while Momentus co-founders’ holdings were fully divested and repurchased before the amended terms take effect.
- Buyers
- Stable Road Acquisition Corp (SRAC)
- Targets
- Momentus Inc. (Momentus)
- Sellers
- Momentus co-founders and their related entities
- Industry
- Transportation
- Location
- California, United States
- Transaction Type
- Buyout
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