All verified mentions of this organization in source documents.
The SEC settlement included $7,000,000 in penalties against Momentus and $1,000,000 in penalties against Stable Road.
When Stable Road announced the merger with Momentus in October 2020, $172,500,000 was expected from Stable Road’s proceeds and $175,000,000 was expected from the concurrent PIPE round.
Stable Road will hold a shareholders’ meeting on 2021-08-11 to vote to approve the merger with Momentus, according to an amended S-4 registration statement filed 2021-07-19.
Stable Road renegotiated the Momentus merger on 2021-06-29 and reduced Momentus’s valuation by half to $566,600,000.
Momentus will pay a $7,000,000 fine as part of its settlement with the SEC.
Momentus launched an experimental cubesat named El Camino Real in July 2019 to test its water plasma propulsion technology, also known as microwave electro-thermal (MET) thrusters.
On 2021-07-13, the U.S. Securities and Exchange Commission reached a settlement with Momentus and Stable Road Acquisition Corporation and imposed more than $8,000,000 in penalties and other conditions on Momentus and its merger with Stable Road.
Five companies that announced SPAC deals between October 2020 and March 2021—BlackSky, Momentus, Redwire, Rocket Lab, and Spire—are scheduled to close their deals later in 2021.
The Federal Aviation Administration rejected a payload review in May for two Vigoride tugs that Momentus planned to launch on the SpaceX Transporter-2 rideshare mission due to national security concerns.
Momentus co-founders Mikhail Kokorich and Lev Khasis sold their stakes in the company in June for $50,000,000.
The original merger agreement announced in October 2020 valued Momentus at more than $1,100,000,000 once the deal closed.
Momentus asserts that it successfully tested the water plasma thruster propulsion system on a cubesat launched in 2019.
Stable Road required Momentus to reimburse Stable Road for half of all merger-related costs incurred going forward up to $1,500,000 under the revised merger terms.
Momentus’s revenue projections were revised from $12,000,000 in 2021 and $104,000,000 in 2022 to no revenue in 2021 and $5,000,000 in 2022.
Momentus’s backlog dropped from $90,000,000 in 2020-11-01 to $66,000,000 as of 2021-06-11.
Momentus’s long-term revenue projection was revised from more than $4,000,000,000 by 2027 to just under $2,200,000,000 in 2027.
Negar Feher is the Vice President of Product and Business Development at Momentus.
Momentus signed a national security agreement with the U.S. Defense Department and Treasury Department on 2021-06-09.
Momentus and Stable Road Acquisition Corporation announced a merger in October 2020 that provided Momentus with $310,000,000 in cash and valued the company at $1,200,000,000.
Momentus missed the opportunity to launch its first tug Vigoride-1 on SpaceX’s Transporter-1 rideshare mission in January because it could not complete a Federal Aviation Administration Office of Commercial Space Transportation payload review in time.