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Space cargo company Momentus going public via SPAC

Space cargo delivery startup Momentus has agreed to go public via a reverse merger that would value the company at just over $1.5 billion, Axios has learned from a source familiar with the situation.

Details: The company would become listed on the Nasdaq under ticker symbol MNTS, and would secure a simultaneous $175 million investment from Capital Group, D.E. Shaw, Lerner Enterprises, Tribe Capital, and Axon Capital.


The big picture: Santa Clara, Calif.-based Momentus was formed in 2017 to effectively shuttle satellites between rockets and their intended orbits. Its first commercial mission is slated for December, tied to a SpaceX launch.

  • It would go public after being acquired by Stable Road Capital, a blank check company formed last year by investor Brian Kabot. An official announcement is expected to come on Wednesday.
  • The company previously raised around $80 million in VC funding, including from two investors in the simultaneous investment (Lerner and Tribe).
  • Bloomberg was first to report on the pending deal, but without dollar details.

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School board recalls in 2021 skyrocket amid organized campaigns for critical race theory bans

Efforts to recall school board members are surging around the U.S. — and especially in California — amid Republican efforts to quash teaching about institutional racism.

Why it matters: Coordinated efforts by conservative groups are shaping public education, fueled by controversies over race as as well as backlash to COVID-19 closures.

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Matt Gaetz is training to promote a baseless fight against voting machines

Rep. Matt Gaetz (R-Fla.) joined a group of conservatives last week at a training session for activists readying to combat the continued use of the voting technology that propelled Trumpworld's 2020 election-theft conspiracy theories.

Why it matters: Theories about uncounted or overcounted votes have become politically tricky and legally problematic for their most prominent backers. The activist training is part of an effort to put a more respectable and pragmatic face on the trend.

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Pornhub's tighter rules may not be enough, experts say

Pornhub tightened its rules around violent and underage content this week. Those changes are a good start, experts say, but they won't be sufficient to combat a growing problem of non-consensual videos.

Why it matters: The New York Times story, by Nick Kristof, reported that Pornhub's vast user-generated content library contains plenty of revenge porn and videos with underage participants. It also details the harm that being on Pornhub can cause for people whose videos were posted without their consent.

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