Page 8 - Stable Road News Today

SPAC Morning: PTK and Legato Strike Deals. Lordstown Continues Dive Two SPAC deals and an IPO to kick off Tuesday. Lordstown Motors continues to fall. Author: PTK Acquisition Corp (PTK) is merging with Valens Semiconductor in a deal valued at $894M, supported by a $125M PIPE Legato Merger Corp (LEGO) struck a deal with Algoma Steel valued at $1.7B EV and supported by a $100M PIPE  In Other SPAC News: Lordstown Motors (RIDE) continues to trade demonstrably lower following its earnings call ye...

Author Bio Lou has followed the markets for more than two decades, developing extensive contacts including industry leaders, consultants, regulators, and labor representatives. He spends a lot of time these days focused on the industrials and financials. When not arguing on Twitter or writing about the markets, Lou spends his free time out in nature, complaining online about the Baltimore Orioles or Watford FC, or listening to early 1990s alt rock. Follow @louwhiteman Th...

Space SPAC shares drop as struggling merger target Momentus does not expect to fly this year CNBC 2 hrs ago Michael Sheetz Stable Road Acquisition Corp. disclosed in a securities filing that its merger target, in-space transportation company Momentus, no longer plans to conduct any missions for customers this year. "This determination was based on information from SpaceX that it was suspending its Momentus-related efforts while Momentus works to secure approvals from the U.S. ...

Virgin Galactic stock jumps 28% in best day of the year after successful weekend spaceflight test (SPY +1.0%). Cryptocurrencies punch back, rise over 10% after Sunday sell-off. The Market in Perspective Here are the headlines moving the markets. Cement-Based Batteries Could Solve The Energy Storage Problem Researchers have developed a concept for a rechargeable battery based on cementa world-first such concept that they suggest could one day turn buildings into giant energy storage facilitie...

A rendering of Momentus’ Vigoride in-space shuttle. Photo: Momentus Momentus has received a draft National Security Agreement (NSA) from the U.S. government that is a step toward approvals the company needs to go public in the U.S.  The company has faced national security concerns about the foreign ownership and control of the company after it announced plans to go public through a special purpose acquisition company (SPAC) merger in October of last year. Momentus had voluntarily filed for r...

By John Jannarone Stable Road Acquisition Corp. (NASDAQ: SRAC) narrowly secured enough votes to avoid being dissolved and will have more time to finalize the regulatory process in its merger with Momentus, a space-industry startup that provides last-mile services such as moving satellites. The SPAC had 66.2% of shareholders vote in support of the extension, […]

A rendering of Momentus’ Vigoride in-space shuttle. Photo: Momentus Momentus special purpose acquisition company (SPAC) merger has received an extension to its closing date. Shareholders of the SPAC, Stable Road Acquisition Corp., voted to approve extending the business combination deadline to August 13. If the extension had not been approved, the merger would have fallen through.  Brian Kabot, chairman and CEO of Stable Road said in a Thursday announcement that approximately 66.2% of all o...

Caribbean News Global May 7, 2021 Special Meeting to reconvene on May 13, 2021. Electronic voting cutoff is at 11:59 pm ET on May 12, 2021 – Stable Road is continuing to solicit votes until that time; call centers to remain open over the weekend. If the Extension Amendment Proposal is not approved, Stable Road will be unable to consummate the proposed business combination with Momentus and all public shares will be redeemed at a price of approximately $10.03 per share within ten b...

A reckoning for Spacs: Will regulators deflate the boom? 13 minutes to read By: Miles Kruppa and Ortenca Aliaj At the beginning of this year, the space transportation start-up Momentus thought it would be well on its way towards its stated mission of "revolutionising space infrastructure and the space economy". Instead, regulators intervened. Three months after Momentus announced a US$1.2 billion ($1.6b) merger with a special purpose acquisition company, Stable Road Acquisitio...

VDOT holding public meeting to discuss 220 intersection options Pat Thomas © Provided by Roanoke-Lynchburg WDBJ-TV VDOT 220 Project ROANOKE, Va. (WDBJ/VDOT Release) - The Virginia Department of Transportation is inviting the public to attend a public hearing for a project to improve seven intersections along Route 220 between Roanoke and Martinsville. The virtual hearing will be Wednesday, April 21, from 5 p.m. to 7 p.m. To access the hearing information and WebEx, click here...