[HN Gopher] SEC Sues Space SPAC
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       SEC Sues Space SPAC
        
       Author : kgwgk
       Score  : 18 points
       Date   : 2021-07-14 16:46 UTC (6 hours ago)
        
 (HTM) web link (www.bloomberg.com)
 (TXT) w3m dump (www.bloomberg.com)
        
       | dnautics wrote:
       | Amazing. I was interviewed by the CEO of the space company
       | several months ago (friend of a friend apparently) and decided to
       | pass since i felt uncomfortable.
        
       | dark_star wrote:
       | The SPAC was trying to take a YC company, Momentus[1], go public:
       | 
       | "In November 2019, a special purpose acquisition company called
       | Stable Road Acquisition Corp. went public, raising $172.5 million
       | from investors to merge with a company to be named later...
       | Stable Road's sponsor Brian Kabot met Mikhail Kokorich, the
       | founder of a company called Momentus Inc., which makes plasma
       | space rockets... Anyway Kokorich talked a good game about his
       | plasma space rockets, and Kabot had $172.5 million burning a hole
       | in his pocket, so a deal was struck."
       | 
       | 1. https://www.ycombinator.com/companies/momentus
        
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       (page generated 2021-07-14 23:03 UTC)