What Happened to Momentus?
Ticker: MNTSSPAC Year: 2020Merger: 2021
Return
-100.0%
Current Price
$0
Peak Price
$27.5
Trust Size
$300M
Summary
Space tug company whose Russian-born founder was forced out by US national security concerns. SEC fined Stable Road $8M for misleading investors. Delisted 2024.
What Happened
Momentus merged with Stable Road Acquisition Corp in August 2021 after a heavily scrutinized process. The company was building "space tugs" to ferry satellites to precise orbits. But founder Mikhail Kokorich, a Russian national, was forced out by CFIUS (national security review) before the merger closed. The SEC fined Stable Road $8M and Momentus $7M for misleading investors about the technology readiness and the national security issues. The company never gained commercial traction and was delisted in 2024.
Key People
Timeline
2020-10
SPAC merger announced
2021-03
CFIUS forces founder out
2021-08
Merger completed after delays
2022-07
SEC fines Stable Road $8M, Momentus $7M
2024-06
Delisted from NASDAQ