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Space company Momentus gets SPAC merger approved after SEC settlement

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An artist’s rendering of a Momentus Vigoride transfer vehicle deploying a satellite in orbit.

Momentus

Space company Momentus will later this week go public on the Nasdaq, a month after settling Securities and Exchange Commission charges that it misled investors.

Stable Road Acquisition Corp, a special purpose acquisition company or SPAC, on Wednesday announced its merger with Momentus was approved by shareholders. While only a little over half of Stable Road’s shareholders voted for the merger, 97% voted for the deal to go through.

Shares of Stable Road will convert to stock in Momentus on Friday, with the ticker symbol of the company changing from “SRAC” to “MNTS.”

Stable Road’s stock fell…



Source cnbc.com

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