Stable Road SRACU = 1C + 1/2W
Momentus Pesentation 10/2020
Quartz The Russian founder of a business going public in a $1.2 billion transaction is not allowed to work with his own company’s products because of US rules intended to keep advanced space technology away from geopolitical rivals.
$175 mm pipe only 10mm of which is from Stable Road.
1W + 11.50. Call 18.
Term 18 months.
$150.0 million or $172.5 million if the underwriter’s over-allotment option is exercised in full ($10.00 per unit in either case)
Our management team has over 60 years of combined professional experience and is led by Brian Kabot, the chief investment officer of Stable Road Capital, LLC, or Stable Road Capital, and Juan Manuel Quiroga, the chief investment officer of NALA Investments, LLC, or NALA Investments. Stable Road Capital is a single-family office managing a portfolio of investments across public securities, private credit, private equity, real estate, venture capital, and cannabis. NALA Investments is a single-family office with investment interests across various industries including communications, transportation, consumer products, real estate, technology and media. Stable Road Capital and NALA Investments manage, in the aggregate, over $1.0 billion of investment capital. Through Stable Road Capital and NALA Investments, Mr. Kabot and Mr. Quiroga have, in the aggregate, executed over 20 transactions within or ancillary to the cannabis sector and have been responsible for investing over $150 million within or ancillary to the cannabis sector since July 2017. We believe that our management team’s investment experience and network of relationships developed through recent investment activity in the cannabis industry will provide us with a substantial number of potential acquisition opportunities.
Mr. Kabot, our Chairman and Chief Executive Officer, has over 19 years of principal investing experience and has served as Chief Investment Officer of Stable Road Capital since July 2017. Mr. Kabot previously served as the Director of Research at Eschaton Opportunities Fund Management LP, a management company for two global value hedge funds, and as a partner and Deputy Portfolio Manager of Riverloft Capital Management L.P., or Riverloft Capital, a management company for an event-driven hedge fund. Mr. Kabot serves as a director of the Treehouse Real Estate Investment Trust, a private real estate investment trust. Mr. Kabot also serves as a director of Old Pal, LLC, a private cannabis brand company, and Grenco Science LLC, a private developer of vape pens and portable vaporizers. He is also a Strategic Advisor to The Cannabis ETF (NYSE: THCX), a newly-launched cannabis-oriented exchange-traded fund managed by Innovation Shares LLC.
Mr. Norris, our Chief Financial Officer, has more than 18 years of experience in the investment management industry. Since November 2018, Mr. Norris has served as the Chief Financial Officer of Stable Road Capital. Mr. Norris previously served as the Chief Financial Officer of Cycad Management LLC, a single family investment office, Chief Financial Officer and Chief Compliance Officer of Blue Jay Capital Management LLC, a SEC-registered investment management firm focused on equity investments in the healthcare sector, the Controller and Chief Compliance Officer of Expo Capital Management LLC, a SEC-registered investment management firm, and a Manager at PriceWaterhouseCoopers.