Why does Momentus need an FAA license? Aren't they treated as a satellite?
Mikhail Kokorich is resigning as CEO of Momentus “in an effort to expedite the resolution of U.S. government national security and foreign ownership concerns.” Dawn Harms takes over as CEO. [No word on Kokorich’s ownership stake.] https://sec.gov/Archives/edgar/data/1781162/000121390021003873/ea133842ex99-1_stableroad.htm
Momentus Names Dawn Harms Interim CEOBoard Accepts Resignation of Mikhail Kokorich as CEO and DirectorJanuary 25, 2021 –Santa Clara, CA – Momentus Inc. (“Momentus” or the “Company”), a commercial space company offering in-space infrastructure services, today announced its Board of Directors has appointed Dawn Harms, the Company’s Chief Revenue Officer, as a director and interim CEO effective immediately, following the resignation of director and founding CEO Mikhail Kokorich.Momentus, in consultation with the Company’s announced SPAC partner, Stable Road Acquisition Corp. (“Stable Road”), has determined that accepting Mr. Kokorich’s resignation is in the best interest of the Company, in an effort to expedite the resolution of U.S. government national security and foreign ownership concerns surrounding the Company, the existence of which the Company recently has confirmed.“We believe that this leadership transition will position the company for success and help accelerate regulatory reviews by the U.S. government,” said Brian Kabot, Chairman and CEO of Stable Road. “Momentus has a deep and experienced executive team, as well as innovative technology. We have full confidence in Dawn and the team to lead the Company to reach both near-term targets and achieve even greater success over the longer-term.”Momentus and Stable Road are fully committed to cooperating with the U.S. government in connection with any regulatory reviews.Harms is a proven leader in the global space industry who has steered operations at all levels of Momentus since 2019. Previously, she held executive positions at Boeing Satellite Systems International, Space Systems Loral (now MAXAR), International Launch Services (ILS), and others.“I am thrilled and privileged to lead Momentus, and I am confident that together we will continue to reach great heights as a company,” Harms said. “We have an extremely talented team, groundbreaking water plasma propulsion technology, and a unique value proposition, all of which we believe have established Momentus as a leader in the in-space infrastructure industry.”Dr. Fred Kennedy, former director of the U.S. Department of Defense Space Development Agency who joined Momentus in September 2020, will continue in his role as Company President.“Dawn is highly respected in the space community, and her relationships and expertise have already contributed a critical part to Momentus’ success,” said Dakin Sloss, Momentus board Chairman and General Partner of Prime Movers Lab, the Company’s largest investor. “We have complete confidence that Dawn, Fred and the team will continue to thrive in creating a future for the space industry.”The Company is grateful to Mr. Kokorich for his entrepreneurial vision and service and thrilled for Dawn’s leadership in the next steps of realizing that vision.
$SRAC Get out and vote FOR extension of the deadline to complete our merger with @momentusspace. Your vote is important no matter how many or how few shares you own! Voting instructions and proxy filing with details on this can be found at:VOTE | Stable Road Capital stableroadcapital.comThe proposal to extend the deadline by which SRAC has to consummate the proposed transaction with @momentusspace requires approval by holders of at least 65% of the outstanding shares of Class A common stock and Class B common stock, voting as a single class.That threshold had not been achieved as of yesterday evening, which is why all stockholders as of March 22, 2021 (the record date) are strongly encouraged to vote as soon as possible. Those stockholders who have already voted have overwhelmingly supported the extension.
SPECIAL MEETING INFORMATIONStable Road will hold a Special Meeting of Stockholders on May 6, 2021 to approve the extension amendment proposal to allow more time to complete its proposed business combination with Momentus Inc. Stockholders of record as of the close of business on March 22, 2021 will be entitled to vote.The board of directors of Stable Road have unanimously approved the proposed extension. Details on the extension amendment are included in the proxy materials found at https://www.cstproxy.com/stableroadacquisitioncorp/sm2021.Stable Road recently mailed to stockholders its proxy statement and voting instruction form, which include instructions on how to vote “FOR” all proposals on the agenda, including the extension amendment.Your vote is important no matter how many or how few shares you own – and please note that not voting is the same as voting against the business combination.
The Federal Aviation Administration has denied a payload review for in-space transportation company Momentus, meaning the company will miss its second opportunity to launch its first tugs.In a May 11 filing with the Securities and Exchange Commission, Momentus said the FAA’s Office of Commercial Space Transportation notified the company May 10 that it had denied the company’s application for a payload review, part of the FAA’s launch licensing process. Momentus sought the review in order to be part of a SpaceX dedicated rideshare launch scheduled for June. Denials of payload reviews by the FAA are rare.The FAA rejected the application “based on the FAA’s finding that its launch would jeopardize U.S. national security,” the company said in the filing. “According to the letter, during an interagency consultation, the FAA was informed that the launch of Momentus’ payload poses national security concerns associated with Momentus’ current corporate structure.”
With recent FCC ruling SRAC shareholders might be better cashing up and not merging. I do like Momentus spacetug and propulsion systems, would be pity if they don't succeed. Sent from my SM-T810 using Tapatalk
Quote from: TrevorMonty on 05/12/2021 07:00 pmWith recent FCC ruling SRAC shareholders might be better cashing up and not merging. I do like Momentus spacetug and propulsion systems, would be pity if they don't succeed. Sent from my SM-T810 using TapatalkI mean, what else can they do unless SRAC buys out the founders earlier? They're already being forced to sell most of their stakes in three years, right? If that won't satisfy DoD, then Momentus is spinning wheels for three years at least, assuming they have enough runway to survive in zombie mode until then...
Stable Road Stockholders Approve Extension of the Date to Consummate Proposed Business Combination with Momentus...“We are very pleased by the overwhelming support for the Extension Amendment Proposal exhibited by our stockholders, with approximately 66.2% of all outstanding shares, and approximately 98.6% of shares that voted on the proposal, being cast in favor of the proposal.”...
Space SPAC shares drop as struggling merger target Momentus does not expect to fly this yearPUBLISHED MON, MAY 24 20213:58 PM EDTMichael Sheetz@THESHEETZTWEETZKEY POINTSStable 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. government,” Stable Road wrote.Stable Road’s merger with Momentus has been bogged down this year, largely due to national security concerns raised by multiple U.S. government agencies.
On October 7, 2020, Stable Road Acquisition Corp. (“Stable Road” or “Parent”) announced a proposed business combination (the “Business Combination”) with Momentus Inc. (“Momentus” or the “Company”). On May 23, 2021, Momentus informed Stable Road that it does not expect to fly any missions in 2021 and that 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. government As previously disclosed, Momentus is seeking these approvals from the U.S. government that are required for its missions. Momentus is in the process of updating its financial projections and backlog.
Momentus Finalizes and Signs National Security AgreementMilestone marks key step in government review processJune 09, 2021 06:30 AM Eastern Daylight TimeSANTA CLARA, Calif.--(BUSINESS WIRE)--Momentus Inc. (“Momentus” or the “Company”), a U.S. commercial space company offering transportation and other in-space infrastructure services, today announced that it has finalized and signed a National Security Agreement (“NSA”) with the Department of Defense and Department of the Treasury as lead agencies on behalf of the Committee on Foreign Investment in the United States (“CFIUS”). The NSA is the culmination of four months of intensive work with the U.S. government and marks a crucial step in the Company’s path toward delivering its services.Since February of this year, Momentus has collaborated with CFIUS and its member agencies, working to demonstrate the Company’s commitment to serving as a trusted partner to the U.S. government. With the NSA now final, Momentus will implement the NSA-required actions that will enable effective alignment with U.S. government stakeholders.“Our co-founders are completely divested from the company as of today, helping to resolve a primary point of the government’s concern,” said Momentus Chief Executive Officer Dawn Harms. “The focus now shifts to efficiently implementing the NSA requirements and reinforcing our operational security.”As part of the NSA, Momentus will be required to implement increased security measures, hire key positions to provide additional oversight and appoint a CFIUS-approved director to its board of directors to oversee compliance with the NSA’s stipulations.“Once the NSA’s measures are implemented, we will renew our efforts to expeditiously obtain governmental approvals to clear our path to flight,” said Harms. “The entire Momentus team is eager to move forward, and we are happy to report progress on that journey with this NSA milestone.”
Any chance of retaking the Spacex transporter 2 mission?