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The Latest SPAC News and Rumors: March 24, 2023


The Latest SPAC News and Rumors: March 24, 2023

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.”