SAN FRANCISCO – In-space transportation startup Momentus Space announced plans Oct. 7 to become a publicly traded company in early 2021 through a merger with Stable Road Acquisition Corp., a special purpose acquisition company.
Since it was founded in 2017, Momentus has attracted dozens of customers by offering to transport satellites from the point where a large rocket drops them off in orbit to their desired orbital destination. Momentus plans to demonstrate that capability with its Vigoride orbital transfer vehicle later this year.
In recent months, Momentus has expanded its staff and business line to include hosting payloads and capturing satellites already in orbit with a robotic arm the firm is developing with Made In Space Europe, a Redwire subsidiary.
Momentus and Stable Road directors approved the merger, which is subject to the approval of regulators and company stockholders. The deal is expected to conclude in early 2021. Then, Momentus shares would trade under the stock symbol MNTS.
“Momentus is at the forefront of the new space economy and is poised to capitalize on the significant growth opportunity,” Mikhail Kokorich, Momentus founder and CEO, said in a statement. “Our mission is to provide the infrastructure services that support all industry beyond Earth.
Brian Kabot, Stable Road chairman and CEO, said in a statement, “We set out to identify a disruptive company and Momentus was the most unique and compelling opportunity to create value through our investment, as we believe the Company is primed to be a leader in the rapidly growing new space economy.”