SRAC Stock: 10 Things to Know About Stable Road Acquisition SPAC and Space Tow Company Momentus


Stable Road Acquisition (NASDAQ:SRAC) a special purpose acquisition company (SPAC) is seeing shares of its stock soar higher on Thursday.

space shuttle launching into space
Source: Alones /

This comes as it prepares to complete its SPAC merger with Momentus, but why are shares heading higher today? It looks like buzz about exchange-traded fund (ETF) manager Ark Invest starting up a Space Exploration ETF is likely behind the boost.

Keeping that in mind, here’s what potential investors in SRAC stock will want to know about the company.

  • Stable Road Acquisition is a SPAC created by Stable Road Capital affiliate SRC-NI Holdings.
  • It was founded in May 2019 with the goal of going public to facilitate a SPAC merger.
  • The company went public early last year and has been seeking a target to take public since.
  • An agreement to take Momentus public was announced late last year.
  • The current roadmap has it completing this task in early 2021.

Now let’s dig into Momentus.

  • This company’s focus is on assisting other companies and organizations with transportation in space.
  • Some of its partners include SpaceX, Lockheed Martin (NYSE:LMT), and NASA.
  • The company’s goal is to act as a sort of space towing company making use of its water plasma propulsion technology.
  • Its plans to go public will have it changing shares of SRAC stock to MNTS stock once the SPAC merger closes.
  • Momentus notes that the SPAC merger values it at $1.2 billion and will provide it with $310 million in cash.

SRAC isn’t the only stock on the rise with the Space Exploration ETF news today. Virgin Galactic (NYSE:SPCE) is also rocketing higher, as are shares of New Providence Acquisition (NASDAQ:NPA) ahead of its SPAC merger with AST SpaceMobile.

SRAC stock was up 23.2% as of Thursday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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