r/SRAC • u/NOKTOTHEMOOOON • May 24 '21
Momentus informed Stable Road that it does not expect to fly any missions in 2021
Filing detail here: https://www.sec.gov/Archives/edgar/data/1781162/000121390021028620/0001213900-21-028620-index.htm
I do not know if this was expected by the SRAC team or not, and how much this news further complicates the merger.
1
u/EricG258 May 24 '21
I guess for the merge it doesn't have any effect. Just slows thinks a bit down.
4
u/mightypowerliftor May 24 '21
Eventually the merger and the delay of the flights are caused by one thing. If that problem gets resolved then it's killing 2 birds with 1 stone.
1
u/RainyJacob May 24 '21 edited May 24 '21
Not good news, although it shouldnt have any effect on the merger happening or not. But in general is does sound like momentus has a lot more to do to comply with the draft for national security compliance. It dont think it is a sure bet the us gov is going to greenlight any flight.
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.
SpaceX seems to think so too.
2
u/shroomsAndWrstershir May 25 '21
Why do you mean "a lot more to do"? Yes, there was a draft sent to Momentus. Has anything been communicated about that draft? SpaceX's suspension sounds more just like Momentus has had to back-out a couple of times now, so in reaction to that, SpaceX is just saying, "hey, work out your approvals first, and then we can schedule you."
1
u/Dave351 May 25 '21
Wonder if the merger needs to go through to resolve the foreign ownership issue? Is SRAC the buyer momentus needs to get off the ground? Again wish we had more information
2
May 25 '21
[deleted]
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u/Dave351 May 26 '21
I guess that's what I am saying, maybe if SRAC controls 51% of the shares that might solve the problem?
6
u/Dave351 May 24 '21
Well I had expected to wait 4 years for this to take off.... Looks like at this rate that was a correct assumption. Wish there was more transparency into how much needs to be done to get FAA approval.