Stable Road Acquisition announced today that stockholders approved the SPAC’s proposal to extend its deadline for merging with Momentus to Aug. 13. The deadline was due to expire today.
Momentus is a commercial space infrastructure company that has service agreements with private satellite companies and research organizations.
The merger has faced several complications since it was announced in October.
Terms call for Momentus to receive $310 million in cash, funded by Stable Road’s $172.5 million held in trust (assuming no redemptions) and $175 million from a fully committed common stock PIPE. Read more.
