SRAC shareholders OK deadline extension of Momentus merger; US regulators bar Momentus from June launch

by Peter B. de Selding

UPDATE MAY 14: Stable Road Acquisition Corp. (SRAC) shareholders approved, by a slim margin, the company's proposal to extend, by three months, the deadline for concluding the transaction with Momentus Inc.  The new deadline is Aug. 13.

Stable Road Chief Executive Brian Kabot said 66.5% of all SRAC outstanding shares voted in favor of the extension, and 98.6% of all shares voted approved the proposal. The company needed 65% approval by all shares to move forward. The alternative was to wind up SRAC and refund shareholders their investments.

Kabot had told investors that their redeemed . . .

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