Alerts7.21.21
As Use of SPACs Increase $8 Million Settlement Cautions Due Diligence
Special Purpose Acquisition Companies obtain investor funds and then merge with a privately held company and take it public
The Securities and Exchange Commission (SEC) announced, on July 13, that it reached a settlement agreement with Stable Road Acquisition Company and its CEO Brian Kabot, and Momentus, Inc. for more than $8 million in connection to a proposed merger and misleading claims about Momentus’ technology. The SEC is continuing an action in the U.S. District Court for the District of Columbia against Momentus, Inc. former CEO Mikhail Kokorich.
Keep Up to Date in a Changing World
Do you want to receive more valuable insights directly in your inbox? Visit our subscription center and let us know what you’re interested in learning more about.
