Space start-up Momentus will go public with a SPAC

a group of clouds in the sky: A SpaceX Falcon 9 lifts off.

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A SpaceX Falcon 9 lifts off.

To make getting into space as cheap as possible, rocket builders try to pack in as many satellites as possible. But what if they’e not all going to the same orbit? Just like you might need to ride a bike from the metro station to get to your final destination, satellites sometimes need a “last mile” solution too.

The next venture-backed space start-up that does just that is going public through a special acquisition company, or SPAC—a publicly traded company that raises money to buy a private firm, often one perceived as too risky to go public through a traditional IPO or a direct listing.

This time around, the target is Momentus Space. The purchaser is a fund raised by Stable Road Capital that trades on the NASDAQ as SRAC, and will become MNT in early 2021. It’s the same

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