Intuitive Machines (NASDAQ: LUNR, LUNRW), a leading space exploration, infrastructure and services company, closed on its upsized offering of 10,952,381 shares of its Class A common stock, each at a price to the public of $10.50, for gross proceeds of $115 million, including the full exercise of the overallotment option. In addition, the company will issue 952,381 shares of Class A Common Stock to Boryung Corporation (together with its affiliates, “Boryung”), an accredited investor, at the public offering price pursuant to an agreement entered into with Boryung on Dec. 2, 2024, in a concurrent private placement. The company intends to use the net proceeds it receives from the offering and private placement, together with its existing cash, cash equivalents and short-term investment balance, to acquire an equivalent number of newly issued common units of Intuitive Machines LLC (“Intuitive Machines OpCo”) from Intuitive Machines OpCo, which Intuitive Machines OpCo will in turn use for general corporate purposes, including operations, research and development and potential mergers and acquisitions. Roth Capital Partners acted as book-running manager for the offering.
To view the full press release, visit https://ibn.fm/pr091
About Intuitive Machines Inc.
Intuitive Machines is a diversified space exploration, infrastructure and services company focused on fundamentally disrupting lunar access economics. In 2024, Intuitive Machines successfully landed the company’s Nova-C class lunar lander, Odysseus, on the Moon, returning the United States to the lunar surface for the first time since 1972. The company’s products and services are offered through its four in-space business units: Lunar Access Services, Orbital Services, Lunar Data Services, and Space Products and Infrastructure. For more information, please visit IntuitiveMachines.com.
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
[email protected]
InvestorWire is powered by IBN