These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Stable Road’s and Momentus’ management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are based on Stable Road’s and Momentus’ management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. This press release may contain a number of “forward-looking statements.” Forward-looking statements include statements about the expected consummation of the proposed business combination between Stable Road and Momentus. The Company anticipates flying its first two Vigoride vehicles to Low Earth Orbit on a third-party launch provider as early as June 2022, subject to receipt of appropriate government licenses and availability of slots on its launch provider’s manifest. Momentus believes it can make new ways of operating in space possible with its planned in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development. commercial space company that plans to offer in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. We appreciate our stockholders’ strong engagement and look forward to concluding the business combination with Momentus tomorrow.” After giving effect to the redemptions, approximately $137 million will be disbursed from Stable Road’s trust account to Momentus upon the closing of the business combination which, when combined with the $110 million equity PIPE expected to be consummated concurrently with the closing, will provide Momentus with approximately $247 million in total available cash, before transaction fees, expenses and payments related to the previously announced repurchase of its co-founders’ shares.īrian Kabot, Chairman and Chief Executive Officer of Stable Road, commented on the results of the meeting: “The overwhelming support that our stockholders showed us by approving the business combination with a relatively small amount of redemptions speaks to the value proposition that we saw in Momentus. Stable Road also announced that an aggregate of approximately 3.5 million shares of Stable Road’s Class A common stock were submitted for redemption by public stockholders in connection with the vote, representing approximately 20% of all issued and outstanding shares of Class A common stock. Holders of approximately 55% percent of Stable Road’s issued and outstanding shares cast votes at the Special Meeting. Over 97% of the votes cast at the meeting voted to approve the business combination. The combined company will retain the Momentus name and its securities are expected to begin trading on the NASDAQ Global Select Market under the new symbol “MNTS” for Momentus stock and “MNTSW” for Momentus warrants on August 13, 2021, following the close of the business combination, which is expected to take place on August 12, 2021. commercial space company that plans to offer in-space infrastructure services, at the special meeting of stockholders (the “Special Meeting”) held on August 11, 2021. (NASDAQ: SRAC, SRACU, and SRACW) (“Stable Road”) announced today that stockholders of Stable Road approved the proposed business combination with Momentus Inc.
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