PARIS — Multiple U.S. government agencies are investigating startup satellite last-mile-delivery provider Momentus Inc. and its merger partner, Stable Road Acquisition Corp. (SRAC), raising questions about the transaction and threatening to delay Momentus’s crucial June launch of its proof-of-concept mission aboard a SpaceX ride-share flight.

A U.S. Securities and Exchange Commission (SEC) review is focused on whether the companies fully disclosed risks associated with Momentus’s Russian shareholders and its founder and now-former chief executive, Mikhail Kokorich . . .

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