Momentus To Become Public Through Merger With Stable Road Acquisition Corp
October 7, 2020
SANTA CLARA, CA -- October 7, 2020 -- Momentus Inc. (“Momentus” or the “Company”), a commercial space company offering in-space transportation and infrastructure services, today announced it has signed a definitive merger agreement with Stable Road Acquisition Corp. (Nasdaq: SRAC, SRACU, SRACW) (“Stable Road”) that will result in the Company becoming publicly listed. Upon the closing of the transaction, the combined operating company will be named Momentus Inc. and its securities will be listed on Nasdaq and trade under the ticker symbol “MNTS.”
These Special Purpose Acquisition Companies Are Looking to Enter The Cannabis Industry
February 19th, 2020
On February 11, Greenrose Acquisition Corp. (NASDAQ: GNRSU) priced a $150 million initial public offering, becoming the latest in a series of cannabis-focused “blank check” companies to go public. Based in Woodbury, New York, Greenrose sold 15 million units priced at $10 each. Imperial Capital LLC and I-Bankers Securities Inc. underwrote the offering.
Blank check, or special purpose acquisition corporations (SPACs), are publicly traded companies that raise money from investors to acquire an existing company, generally one that is privately held. The money is held in a trust until a merger or acquisition is identified.
Stable Road Acquisition Corp. Announces Pricing of $150,000,000 Initial Public Offering
November 7th, 2019
Stable Road Acquisition Corp. announced today that it priced its initial public offering of 15,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market and will begin trading tomorrow, Friday, November 8, 2019, under the ticker symbol “SRACU”. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “SRAC” and “SRACW,” respectively.
The Cannabis ETF (THCX) Announces Strategic Advisor Additions
August 8th, 2019
The Cannabis ETF (THCX), the first passively managed pure-play ETF solution for investing in cannabis, today announced an expansion of its strategic advisor team. Joining Jon and Pete Najarian, CNBC contributors, co-founders of Investitute and optionMONSTER, will be Stable Road Capital CIO, Brian Kabot, and healthcare and biotechnology entrepreneur, Neal Patel, Ph.D. We believe their collaborative industry knowledge and partnership expand THCX's presence in the cannabis investment marketplace while their leadership experience and insights add to the fund's already deep bench of cannabis experts.
Grenco Science, the leader in advanced technology cannabis vaporization, Completes Series A Financing
July 29th, 2019
Grenco Science, the leader in advanced technology cannabis vaporization that has been in operation for 8 years, recently completed its Series A financing. Investors in the financing round included Serruya Private Equity and Stable Road Capital. Grenco Science plans to deploy the funding to invest in ground-breaking technology and to expand the innovative product range with first-of-its-kind vaporizers while continuing to expand on a global scale.
Treehouse Cannabis REIT Taps Federally Insured Bank for $16 Million Loan
June 11th, 2019
Treehouse Real Estate Investment Trust, Inc. announced today that it has closed upon nearly a $16 million debt commitment with a large, federally insured and regulated commercial bank. The commitment carries a 5.6% interest rate and provides for a revolving facility for future notes as Treehouse continues acquiring cannabis-use properties.
Plus Products Announces Closing of Previously Announced Private Placement of Unsecured Convertible Note Units
February 8th, 2019
Plus Products Inc. is pleased to announce that it has closed the previously announced best efforts private placement with Canaccord Genuity Corp., as lead agent, together with a syndicate of agents, for 25,000 units of the Company at a price of $1,000 for gross proceeds of $25,000,000.
Gotham Green Partners and Stable Road Capital were two of the lead investors in the private placement.
MedMen to Sell Some Real Estate Assets to Newly Formed $133 Million Cannabis REIT
January 7th, 2019
Cannabis REIT to Acquire MedMen Real Estate, Looks to Capitalize on Fast Growing Sector.
Treehouse is a collaboration between MedMen and Stable Road Capital, a Venice, California-based investment firm with successful track records in real estate and cannabis. Treehouse is governed by an independent board. Treehouse has a management contract with MedMen to oversee day-to-day operations until Treehouse goes public, at which point management will be internalized.
MedMen Closes $94 Million Term Loan at 7.5% Interest
October 1st, 2018
MedMen Enterprises Inc. announced today that it has closed a C$93,822,023 (US$73,275,000) senior secured term loan facility (the “Facility”) with funds managed by Hankey Capital and with an affiliate of Stable Road Capital as the largest loan participant.
The principal amount under the Facility will accrue interest at a rate of 7.5 percent per annum, paid monthly, with a maturity date of 24 months following the date of closing on October 1st, 2018.