Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Momentus SPAC backers accused of deliberately engineering a catastrophic deal
Momentus SPAC Backers Accused of Hiding Disastrous Deal’s Flaws
A Momentus Inc. (NASDAQ:MNTS) investor sued backers of its blank-check merger with a shell company, claiming they deliberately engineered a catastrophic transaction because the deal’s structure gave insiders a windfall.
The lawsuit targets Stable Road Capital LLC affiliates that sponsored the combination between a “special purpose acquisition company” and Momentus, a space infrastructure business founded by “a Russian national with opaque ties to Russian military and intelligence agencies.”
