Momentus - 合并调整,补偿投资人!

发布于: 雪球转发:0回复:2喜欢:2

由于Momentus的上市之路这半年来一直坎坎坷坷(好在也终于看到了曙光,可以看我之前的长文), $Stable Road(SRAC)$   和 Momentus 刚发布了一项联合声明,宣布调整原先的合并计划,具体涉及到的几个关键点如下:

1,An approximately 18-month pushout of Momentus’ long-term financial outlook to align with previously announced delays in its planned launch schedule.

首先这里主要是重新修改了一下之前给出的财务预测,加了一个delay。

2,A complete divestment of the Momentus shares held by its co-founders and their related entities on June 8, 2021, which significantly increased the equity ownership percentage of Momentus’ current stockholders. As a result, the revised valuation below to benefit public equity holders and PIPE investors does not compromise the ultimate equity ownership percentage of current Momentus stockholders in the combined company relative to what was originally expected.

因为创始人、联合创始人以及他们的相关利益方的股份会从原公司Momentus中清除,那么当前Momentus的其他股东在合并之后的公司中的股份比例自然会增加。但是因为要补偿现有Stable Road(SRAC)的二级市场投资人以及PIPE投资人,实际增加的部分会与预期直接剔除的结果稍有出入。

3,A revised pre-transaction enterprise value of the private company Momentus of $567 million vs $1.131 billion under the original merger agreement, and a revised pro forma enterprise value (for the combined company) of $700 million vs. $1.2 billion under the original merger agreement.

原先 $1.2 billion 的pro forma估值($1.131 billion pre-transaction),变成了$700 million($567 million)。

4,An increase in the expected stock ownership by SRAC stockholders and PIPE investors in the combined company to approximately 45% under the revised agreement from approximately 28% under the original agreement with no additional capital commitments.

Stable Road(SRAC)的二级市场投资人以及PIPE投资人调整后的股份比较为45%(原先为28%)。

5,An increase in the expected stock ownership in the combined company by current Momentus stockholders (after giving effect to the repurchase of the co-founders’ shares) to approximately 55% under the revised agreement from approximately 46% under the original agreement.

原有Momentus的股东(不含创始人的)在合并之后占公司股份从46%变成了55%(如上说述,这部分其实如果按照直接去除创始人按比例算的话应该变成:62%,但因为要补偿现有股票投资人以及PIPE投资人,所以相应的减少了)。


参考下图,右边是调整之前的股权结构,左边为调整之后的,可以看出,创始人26%的股份被剔除之后,其他各方股份都有所增长,尤其是现有Stable Road(SRAC)股东和PIPE投资人更是得到了额外的补偿!


Momentus是我个人觉得目前最有潜力也最值得关注的美国太空运输企业,一切的努力都是为了能让Momentus顺利完成上市!

但愿好事多磨,静待尘埃落定!


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对太空领域(Astra $ASTR$ 、Rocket Lab $Vector(VACQ)$   、Momentus、Virgin Galactic Holdings Inc、Spire Global等等)及其他硬科技感兴趣的可以关注我,我将持续带来第一手信息。

全部讨论

2021-07-02 23:12

发片帖子再说说 stable road 吧。

2021-07-02 07:09

创始人股权剔除,
是不是公司失去了创新灵魂?
如同特斯拉没了马一龙?