Defendant Name: Stable Road Acquisition Corp.

Defendant Type: Public Company

Document Reference: 34-96981

Document Details

Legal Case Name In the Matter of Momentus, Inc., Stable Road Acquisition Corp., SRC-NI Holdings, LLC, and Brian Kabot
Document Name Order Appointing Fund Administrator and Setting Administrator's Bond Amount
Document Date 24-Feb-2023
Document Format Administrative Proceeding
File Number 3-20393
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission ordered that: "Epiq is appointed as the fund administrator . . . and shall obtain a bond . . . in the amount of $8,040,000.00."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
The Commission ordered that: "Epiq is appointed as the fund administrator . . . and shall obtain a bond . . . in the amount of $8,040,000.00."
Fair Funds
Monetary Penalties:

Civil Penalty

(Penalty was noted in document, but no amount was listed)

Related Documents:

33-10955 13-Jul-2021 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On July 13, 2021, the SEC instituted settled cease-and-desist proceedings against Stable Road Acquisition Corp. stating: "This case concerns materially false statements, omissions, and other deceptive conduct by Momentus, a privately held space company that aspires to provide space infrastructure services, and its former Chief Executive Officer Mikhail Kokorich (“Kokorich”), as it sought to go public through a business combination with Stable Road Acquisition Corp. (“SRAC”), a publicly traded special-purpose acquisition company (“SPAC”)."
2021-124 13-Jul-2021 Press Release--Administrative Proceeding
SEC charges SPAC, Sponsor, Merger Target, and CEOs for Misleading Disclosures Ahead of Proposed Business Combination
The SEC "announced charges against special purpose acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, its CEO Brian Kabot, the SPAC’s proposed merger target Momentus Inc., and Momentus’s founder and former CEO Mikhail Kokorich for misleading claims about Momentus’s technology and about national security risks associated with Kokorich."
34-95653 01-Sep-2022 Administrative Proceeding
Extension Order
The Commission ordered "that the Division's request for an extension of time until March 31, 2023 to submit a Proposed Plan of Distribution is granted."
34-96733 23-Jan-2023 Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "Heffler, Radetich & Saitta, LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."
34-97187 23-Mar-2023 Administrative Proceeding
Second Extension Order
The Commission ordered that: "the Division’s request for an extension of time until June 30, 2023 to submit a Proposed Plan of Distribution is granted."
34-97801 27-Jun-2023 Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of monies paid in the above-captioned matter."
34-97801-pdp 27-Jun-2023 Administrative Proceeding
Proposed Plan of Distribution
The SEC stated: "The Division of Enforcement submits this Proposed Plan of Distribution (the “Plan”) to the United States Securities and Exchange Commission (the “Commission”) . . . . This Plan provides for the distribution of a Fair Fund (the “Fair Fund”), comprised of civil money penalties paid by Momentus, Inc. (“Momentus”), Stable Road Acquisition Corp. (“SRAC”), SRC-NI Holdings, LLC (“SRC-NI”), and Brian Kabot (“Kabot”) (collectively, the “Respondents”) in the above-captioned matter."
34-98209 24-Aug-2023 Administrative Proceeding
Order Extending Time to Enter Order Approving or Disapproving Plan of Distribution
The Commission stated: "IT IS ORDERED that pursuant to Rule 1104 of the Commission's Rules, for good cause shown, the time for entering an order approving or disapproving the Plan is extended to February 29, 2024."
34-99688 07-Mar-2024 Administrative Proceeding
Order Approving Plan of Distribution
The Commission ordered that: "the Proposed Plan is approved, and the approved Plan of Distribution shall be posted simultaneously with this order on the Commission's website at www.sec.gov."
34-99688-dp 07-Mar-2024 Administrative Proceeding
Plan of Distribution
The SEC stated: "The Division of Enforcement submits this Plan of Distribution (the “Plan”) to the United States Securities and Exchange Commission (the “Commission”) . . . This Plan provides for the distribution of a Fair Fund (the “Fair Fund”), comprised of civil money penalties paid by Momentus, Inc. (“Momentus”), Stable Road Acquisition Corp. (“Stable Road”)1 , SRC-NI Holdings, LLC (“SRC-NI”), and Brian Kabot (“Kabot”) (collectively, the “Respondents”) . . . . the Plan seeks to compensate investors who were harmed by the Respondents’ conduct described in the Order, involving false and misleading statements and omissions made in connection with the offer and sale of Stable Road common stock, Stable Road warrants, and Stable Road units (consisting of one share of common stock and one-half of one warrant) registered with the Commission and traded on the Nasdaq exchange until August 12, 2021 (the “Securities”)."

Other Defendants in Action:

Momentus, Inc.
SRC-NI Holdings, LLC
Brian Kabot

Related Actions:

SEC v. Mikhail Kokorich
Mikhail Kokorich