Space Cargo Co. Momentus Valued At $1.2B In SPAC Deal
Law360 (October 7, 2020, 11:06 AM EDT) -- Blank-check company Stable Road Acquisition Corp. has agreed to merge with private equity-backed space cargo company Momentus Inc. to create a publicly traded entity valued at about $1.2 billion, the companies said Wednesday, in a deal guided by Orrick and Kirkland.
The deal combines Stable Road with Momentus to form a $1.2 billion business that will trade on the Nasdaq under the ticker symbol "MNTS," according to a statement. Santa Clara, California-based Momentus, formed in 2017, offers in-space transportation and infrastructure services, including helping get satellites and other cargo into orbit using water plasma-powered rockets.
The company has lofty goals, including...
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