Space-Cargo Firm Momentus to Go Public Via Merger With SPAC (2)

Momentus Inc., a startup with ambitions of providing “last-mile delivery” in space by transporting in-orbit satellites and cargo, agreed to go public through a merger with Stable Road Acquisition Corp.

The merger of Stable Road, a special purpose acquisition company, or SPAC, and Santa Clara, California-based Momentus will give the combined entity an enterprise value of about $1.2 billion, according to a statement Wednesday, confirming an earlier Bloomberg report.

Cash proceeds in connection with the transaction will be funded through Venice, California-based Stable Road’s $172.5 million of cash in trust and a $175 million common-stock investment from private equity ...