Space pioneer momentus stock2/19/2023 ![]() ![]() Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. For more information, contact us.īerger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. Whistleblowers: Anyone with non-public information regarding Stable Road is encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. On this news, the price of Stable Road securities fell $1.22 per share, or 10%, to close at $10.66. Also on July 13, 2021, the SEC publicized a cease-and-desist order and complaint against Defendant Kokorich. Securities and Exchange Commission announced charges against Stable Road, Momentus, and members of key management for making “misleading claims about Momentus’ technology and about national security risks associated with Kokorich.” The release stated that all parties other than Defendant Kokorich had settled the charges against them for $8 million in total, while the case against Defendant Kokorich was ongoing. Momentus, Astra and AST financials based on management projections. government national security and foreign ownership concerns surrounding the Company.” In response, the price of Stable Road securities fell $4.75 per share (19%) over the next three trading days, to close at $20.10 on January 27, 2021. (2025E) (1) 39 billion Pioneer the Space-as-a-Service Model Orbital Services TAM. On January 25, 2021, Momentus announced that Momentus’ CEO and founder, Mikhail Kokorich, had resigned “in an effort to expedite the resolution of U.S. on a demo flight launched mid-2019.” According to recently filed lawsuits, defendants failed to disclose the adverse facts about Momentus’ business, operations, and prospects, as well as Stable Road’s due diligence in connection with the Merger. An investor presentation issued shortly after that announcement represented that Momentus had an enterprise value of $1.2 billion and that its “Groundbreaking Water Propulsion Technology” had been “uccessfully tested. On October 7, 2020, Stable Road and Momentus issued a joint press release announcing that Stable Road had agreed to acquire Momentus in a proposed merger. (“Momentus”), a private space transportation company, was an acquisition target of Stable Road during the Class Period. Published Wed, Oct 7 20207:53 AM EDT Updated Wed, Oct 7 20203:18 PM EDT. ![]() Stable Road also had to forfeit the 250,000 founder. If you purchased Stable Road securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague’s investigation, please contact attorneys Andrew Abramowitz at or (215) 875-3015, or Donnell Much at or (215) 875-4667, or visit Stable Road is a special purpose acquisition company (SPAC) that went public in November 2019 via initial public offering. Momentus to become the latest space stock with ticker ‘MNTS,’ valued at 1.2 billion in SPAC deal. As part of the settlement, Momentus, Stable Road, and Kabot were hit with civil penalties of 7 million, 1 million, and 40,000, respectively. ASTR, USD, ASTRA SPACE INC, Log In to Check Availability. (“Stable Road” or the “Company”) on behalf of investors who purchased Stable Road securities (NASDAQ: SRAC, SRACU, SRACW) between Octoand J(the “Class Period”). This availability information regarding shortable stocks is indicative only and is subject to. PHILADELPHIA, J– Berger Montague is investigating securities fraud claims against Stable Road Acquisition Corp. When the satellites are released into an approximately correct orbit, the tugs will take them the "last mile" to their final destination.PRACTICE AREAS: Securities & Investor Protection Momentus' Vigoride, Ardoride, and Fervoride tugs will be launched alongside these satellites using partner SpaceX's Falcon 9 rockets. ![]() In Momentus, it seems to have found its target.įounded in 2017, Momentus is in the business of building spacecraft whose whole purpose is to move other spacecraft (i.e., satellites) to their customers' desired orbits. It was incorporated with $172.5 million in capital back in November 2019, and has been searching for a suitable company to acquire ever since. This morning, privately owned Stable Road Capital announced a deal to acquire privately owned space transportation company Momentus and bring it public in a $1.2 billion transaction facilitated by the SPAC Stable Road Acquisition ( SRAC).Īs is the case with most SPACs, Stable Road Acquisition is essentially a shell company, with no business of its own to speak of. ![]()
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