{"id":"703d1c84-9feb-42f1-a3ab-a8d3d87deecc","slug":"momentus-sec-spac-settlement-2021-07","kind":"regulatory_action","headline":"SEC settles with Momentus over material misstatements about space technology and national security concerns in SPAC merger","summary":"On July 13, 2021, the SEC announced a settled enforcement action against Momentus Inc. and its SPAC partner Stable Road Acquisition Corp. The SEC found that Momentus made material misstatements and omissions in SEC filings about successfully testing key space technology when the test had not been successful, and about national security concerns regarding Momentus's former CEO Mikhail Kokorich. Momentus paid a $7 million civil penalty, the SPAC paid $1 million, and the SPAC CEO paid $40,000. The SEC separately litigated against Kokorich. This was one of the first SEC enforcement actions against a SPAC merger target.","occurredAt":"2021-07-13T12:00:00.000Z","reviewStatus":"reviewed","modelId":null,"deploymentId":null,"companyId":"d29879a2-dd3a-4ded-8eea-f6c2854fe812","aliases":[],"collisionRisk":"none","reviewNote":null,"severity":"serious","rootCauseCategory":"other","rootCauseDetail":"Material misstatements and omissions in SEC filings regarding key technology test results and national security concerns about the founder/CEO.","affectedUnitsCount":null,"affectedUnitsBasis":null,"remediationStatus":null,"regulatoryAction":"fine","regulatoryBody":"SEC","propertyDamageEstimateUsd":null,"damageEstimateBasis":null,"bodilyInjurySeverity":null,"fatalityCount":null,"lossCostClass":null,"sourceQualityTier":null,"oshaRecordable":null,"oshaCaseNumber":null,"rootCauseDisclosed":null,"publicDisclosureDate":null,"insuranceClaimPublic":null,"formFactor":null,"latitude":null,"longitude":null,"autonomyClass":null,"legalOutcomeClass":"unknown","createdAt":"2026-08-08T21:04:04.600Z","updatedAt":"2026-08-08T21:06:08.037Z","model":null,"deployment":null,"company":{"id":"d29879a2-dd3a-4ded-8eea-f6c2854fe812","name":"Momentus Space","slug":"momentus-space","description":"U.S. commercial space company (NASDAQ: MNTS) specializing in satellite technology, space transportation, and in-orbit services. Best known for the [Vigoride Orbital Service Vehicle](/models/vigoride-orbital-service-vehicle), a space tug using proprietary water plasma Microwave Electrothermal Thruster (MET) propulsion that provides last-mile satellite delivery, hosted payload support, and in-orbit servicing to government and commercial customers including NASA, DARPA, and the U.S. Department of Defense.","status":null,"founded":2017,"hq":"San Jose, California, USA","hqLat":null,"hqLng":null,"hqGeocodedAt":null,"hqAddress":null,"hqPrecision":null,"website":"momentus.space","fundingTotal":null,"type":"hardware","reviewStatus":"reviewed","lifecycleState":"active","supersededByCompanyId":null,"sources":[{"url":"https://www.businesswire.com/news/home/20260328031741/en/Momentus-Launches-Vigoride-7-Orbital-Service-Vehicle-on-SpaceX-Transporter16-Mission","title":"Momentus Launches Vigoride 7 Orbital Service Vehicle on SpaceX Transporter-16 Mission","sourceName":"Business Wire"}],"keyFacts":[{"label":"Ticker","value":"NASDAQ: MNTS"},{"label":"Latest Mission","value":"Vigoride 7 (Mar 2026)"},{"label":"Hero image candidate","value":"https://i0.wp.com/spacenews.com/wp-content/uploads/2023/01/CaltechIntegration_002.jpg (source: SpaceNews press coverage of Vigoride OSV)"}],"aliases":[],"collisionRisk":"low","reviewNote":null,"atsProvider":null,"atsSlug":null,"factoryLocations":null,"manufacturingCapacity":null,"orgType":null,"burnSignal":null,"litigationEvents":null,"insurancePostureDisclosed":null,"unitEconomicsDisclosed":null,"tickerSymbol":"MNTS","stockExchange":"NASDAQ","secCik":null,"revenueUsd":null,"revenueBasis":null,"revenueAsOf":null,"employeeCount":null,"employeeCountBasis":null,"employeeCountAsOf":null,"marketCapUsd":null,"marketCapAsOf":null,"marketCapSource":null,"createdAt":"2026-08-08T18:37:50.740Z","updatedAt":"2026-08-08T21:07:45.247Z"},"derived":{"status":"active"},"sources":[{"id":"60fd8f7c-0d0a-40a7-ade4-f199281b8805","incidentId":"703d1c84-9feb-42f1-a3ab-a8d3d87deecc","url":"https://www.sec.gov/files/litigation/admin/2021/33-10955.pdf","label":"SEC.gov","publishedAt":"2021-07-13T00:00:00.000Z","notes":null,"title":null,"sourceName":"SEC.gov","mediaType":"article","videoId":null,"channel":null,"durationSec":null,"timestampSec":null,"createdAt":"2026-08-08T21:04:04.600Z","updatedAt":"2026-08-08T21:04:04.600Z"},{"id":"5eb98251-f4c5-4f75-9b9b-68c65a0374a9","incidentId":"703d1c84-9feb-42f1-a3ab-a8d3d87deecc","url":"https://www.lit-wc.aoshearman.com/sec-announces-settled-enforcement-action-in-connection-with-spac-business","label":"A&O Shearman","publishedAt":"2021-07-20T00:00:00.000Z","notes":null,"title":null,"sourceName":"A&O Shearman","mediaType":"article","videoId":null,"channel":null,"durationSec":null,"timestampSec":null,"createdAt":"2026-08-08T21:04:04.600Z","updatedAt":"2026-08-08T21:04:04.600Z"}],"responses":[],"statusEvents":[{"id":"ef7ea3dc-324e-49fa-8491-6bfb9d2d0aef","incidentId":"703d1c84-9feb-42f1-a3ab-a8d3d87deecc","status":"active","reason":null,"source":"agent:recon","effectiveAt":"2026-08-08T21:04:05.763Z","createdAt":"2026-08-08T21:04:05.763Z"}],"jsonLd":{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://registry.deploy.report/incidents/momentus-sec-spac-settlement-2021-07","url":"https://registry.deploy.report/incidents/momentus-sec-spac-settlement-2021-07","headline":"SEC settles with Momentus over material misstatements about space technology and national security concerns in SPAC merger","description":"On July 13, 2021, the SEC announced a settled enforcement action against Momentus Inc. and its SPAC partner Stable Road Acquisition Corp. The SEC found that Momentus made material misstatements and omissions in SEC filings about successfully testing key space technology when the test had not been successful, and about national security concerns regarding Momentus's former CEO Mikhail Kokorich. Momentus paid a $7 million civil penalty, the SPAC paid $1 million, and the SPAC CEO paid $40,000. The SEC separately litigated against Kokorich. This was one of the first SEC enforcement actions against a SPAC merger target.","identifier":"703d1c84-9feb-42f1-a3ab-a8d3d87deecc","datePublished":"2021-07-13T12:00:00.000Z","articleSection":"regulatory action","publisher":{"@id":"https://deploy.report/#organization"},"author":{"@id":"https://deploy.report/#organization"}},"framework_metadata":{"framework_schema_version":"0.1.0","verification_status":"verified","maturity_stage":null,"lifecycle_state":null,"architectural_position":{"cohort":null,"sub_cohorts":[]},"within_cohort_verified_vs_claimed_pair":null,"cap_flags":[],"verification_depth":{"sources_count":2,"primary_source_types":["primary-sec-filing"]}}}