SPAC Stable Road Dealt Fresh Setback as Merger Partner Backs Away From Revenue Guidance
The planned merger between special purpose acquisition company (SPAC) Stable Road Acquisition (NASDAQ: SRAC) and space tug service Momentus suffered a fresh setback as Stable Road warned that its partner no longer expects to conduct any revenue-generating missions in 2021.
Last October, Stable Road and Momentus announced plans to merge in a deal that would bring Momentus onto public markets. But the deal has been bogged down by regulatory concerns related to Momentus's Russian Founder Mikhail Kokorich.
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Source Fool.com
