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Vigoride-1 is ready for launch but Momentus is awaiting final regulatory licenses and is planning a launch at the end of June 2024 pending those licenses.
Stable Road announced its merger agreement with Momentus in October 2023.
Stable Road Acquisition Corporation adjourned a special meeting of its shareholders on 2024-05-06 because it did not have enough votes to approve a three-month extension of the deadline to complete its merger with Momentus.
Momentus was awaiting a Federal Aviation Administration payload review to allow it to launch its first space tug, Vigoride-1, on a SpaceX rideshare mission in June 2024.
Mikhail Kokorich and Brainyspace LLC, a firm owned by co-founder Lev Khasis and his wife, agreed to divest their Momentus shares within three years.
Stable Road sought to extend the deadline to complete its merger with Momentus from 2024-05-13 to 2024-08-13.
Momentus, Astra, Spire, BlackSky, Rocket Lab, and Redwire planned SPAC deals in 2021 that together intended to raise $2,800,000,000.
Stable Road Acquisition Corp. has until 2021-05-13 to finalize its deal with Momentus and is requesting shareholders approve a three-month extension.
Momentus is working on completing a merger with Stable Road Acquisition Corp.
Momentus disclosed in a Securities and Exchange Commission filing on 2021-04-07 that Lockheed Martin decided not to proceed with Momentus as a partner for the NASA Tipping Point contract.
Momentus is completing a merger with special-purpose acquisition company Stable Road Acquisition Corporation that was announced in October.
Momentus was originally planned to integrate the payload on its Vigoride transfer vehicle for Lockheed Martin’s mission and to be launched in October 2023 on Relativity Space’s Terran 1 small launch vehicle.
The Federal Aviation Administration could not approve Momentus’s payload due to national security and foreign ownership concerns regarding Momentus raised by the Department of Defense during an interagency review.
The cumulative financial effect on Momentus’s backlog from customer actions and Lockheed Martin’s decision not to partner with Momentus is less than $5,000,000.
Stable Road Acquisition Corporation has until 2021-05-13 to complete the deal with Momentus unless shareholders approve a three-month extension.
In 2019 Exolaunch agreed to pay Momentus more than $6,000,000 for Vigoride services to move satellites in low Earth orbit in 2020 and for Vigoride Extended services to move satellites from low Earth to geosynchronous orbit in 2021.
Momentus is planning to merge with Stable Road Acquisition Corporation, a SPAC, to trade on the Nasdaq in a deal valuing the company at about $1,000,000,000.
Redwire won a contract to provide a robotic arm for the Vigoride tug being developed by Momentus.
Momentus announced a planned merger with Stable Road Acquisition Corporation, a SPAC created by Stable Road Capital, in October 2020.
The Department of Defense raised national security concerns in January about Momentus co-founders’ ownership stakes, which prevented Momentus from receiving an FAA payload approval for a January launch of its first Vigoride tug on a Falcon 9 and forced the launch to be postponed to no earlier than June.