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Momentus Investor Announcement

Momentus company and SPAC entity Stable Road Acquisition Corp. changed the merger agreement concluded in October 2020. Under the new conditions, the valuation of Momentus has been halved: from $1.1 billion to $567 million.

This will not affect the profitability of clients of the Global Technologies Private Portfolio fund. Under the terms of the deal, the fund is buying shares ahead of the date of the merger between Momentus and Stable Road Acquisition Corp. — at the current price at the time of the merger.

We continue to see the potential for profitability in the company’s shares after the completion of the merger with SRAC. Despite the difficulties that Momentus is currently experiencing, the company remain its high potential.

It was previously planned that the first launch of the Momentus tug would take place this year, but the company had to postpone it until 2022. The reason is the litigation with the Foreign Investment Committee in the United States over the Russian owners Mikhail Kokorich and Lev Khasis.

In early June, the Russian founders withdrew from the company’s board, and Momentus was able to sign a National Security Agreement with the US Department of Defense and the US Treasury. Now, after signing the agreement, the merger of Momentus and Stable Road Acquisition Corp. finally should take place.