A reckoning for Spacs: Will regulators deflate the boom? 13 minutes to read By: Miles Kruppa and Ortenca Aliaj At the beginning of this year, the space transportation start-up Momentus thought it would be well on its way towards its stated mission of "revolutionising space infrastructure and the space economy". Instead, regulators intervened. Three months after Momentus announced a US$1.2 billion ($1.6b) merger with a special purpose acquisition company, Stable Road Acquisition Corp, the Securities and Exchange Commission told the companies they were under investigation for statements made about the transaction, according to filings made public last month. The merger, which would make Momentus one of the few publicly traded space companies, had been billed in October as a "unique and compelling opportunity" for investors. Momentus projected it would reach more than US$4b in revenues in 2027, including almost US$670 million in sales from a fleet of robotic vehicles designed to serve large spacecraft.