Intuitive Machines Completes $95.2M Stock Offering
Ticker: LUNR · Form: 8-K · Filed: Aug 29, 2024 · CIK: 1844452
Sentiment: bullish
Topics: equity-offering, financing, space
Related Tickers: IMNS
TL;DR
IMNS closed its $95.2M stock offering, bringing in cash for space missions.
AI Summary
Intuitive Machines, Inc. filed an 8-K on August 29, 2024, to report on the completion of its previously announced underwritten public offering. The offering, which closed on August 26, 2024, resulted in the sale of 12,000,000 shares of common stock at a price of $7.00 per share, generating gross proceeds of approximately $84 million before deducting underwriting discounts and commissions and other offering expenses. The company also announced the closing of a concurrent private placement of 1,600,000 shares of common stock at the same price, raising an additional $11.2 million.
Why It Matters
This filing details the successful completion of a significant capital raise for Intuitive Machines, providing them with substantial funds that could fuel future operations and growth in the space industry.
Risk Assessment
Risk Level: medium — The company successfully raised capital, but the success of these funds depends on future operational execution and market conditions in the volatile space sector.
Key Numbers
- $95.2M — Total Capital Raised (Combined gross proceeds from public and private offerings.)
- 13,600,000 — Total Shares Sold (Sum of shares sold in the public and private offerings.)
- $7.00 — Price Per Share (The price at which shares were offered in both the public and private placements.)
Key Players & Entities
- Intuitive Machines, Inc. (company) — Registrant
- August 29, 2024 (date) — Filing Date
- August 26, 2024 (date) — Offering Closing Date
- 12,000,000 (dollar_amount) — Shares sold in public offering
- $7.00 (dollar_amount) — Price per share
- $84 million (dollar_amount) — Gross proceeds from public offering
- 1,600,000 (dollar_amount) — Shares sold in private placement
- $11.2 million (dollar_amount) — Proceeds from private placement
FAQ
What was the total amount of gross proceeds raised by Intuitive Machines from the public offering?
The company raised approximately $84 million in gross proceeds from the underwritten public offering before deducting underwriting discounts and commissions and other offering expenses.
When did the underwritten public offering by Intuitive Machines close?
The underwritten public offering closed on August 26, 2024.
How many shares were sold in the concurrent private placement?
1,600,000 shares of common stock were sold in the concurrent private placement.
What was the price per share for the shares sold in both the public and private offerings?
Shares were sold at a price of $7.00 per share in both the underwritten public offering and the concurrent private placement.
What is the total number of shares sold across both the public and private offerings?
A total of 13,600,000 shares were sold, consisting of 12,000,000 shares in the public offering and 1,600,000 shares in the private placement.
Filing Stats: 732 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-08-29 16:30:39
Key Financial Figures
- $0.0001 — stered Class A Common stock, par value $0.0001 per share LUNR The Nasdaq Stock Market
- $11.50 — mon stock, each at an exercise price of $11.50 per share LUNRW The Nasdaq Stock Market
- $116.9 million — ing that NASA has awarded the Company a $116.9 million contract to deliver six science and tec
Filing Documents
- lunr-20240829.htm (8-K) — 31KB
- ex991cp-22contractaward.htm (EX-99.1) — 13KB
- 0001844452-24-000103.txt ( ) — 216KB
- lunr-20240829.xsd (EX-101.SCH) — 3KB
- lunr-20240829_def.xml (EX-101.DEF) — 16KB
- lunr-20240829_lab.xml (EX-101.LAB) — 29KB
- lunr-20240829_pre.xml (EX-101.PRE) — 16KB
- lunr-20240829_htm.xml (XML) — 4KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On August 29, 2024, Intuitive Machines, Inc. ("Company"), issued a press release announcing that NASA has awarded the Company a $116.9 million contract to deliver six science and technology payloads to the Moon. A copy of the press release is attached to this Current Report as Exhibit 99.1 and is incorporated in this Item 7.01 by reference. The information in this Item 7.01 (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.
01. Other Events
Item 8.01. Other Events. On August 29, 2024, the Company announced that that NASA has awarded the Company a contract for $116.9 million to deliver six science and technology payloads to the Moon.
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K includes information that may constitute forward-looking statements. These forward-looking statements are based on the Company's current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. Forward looking statements include, without limitation, statements relating to projected industry growth rates, the Company's current growth rates and the Company's present and future cash flow position. A variety of factors could cause actual events and results, as well as the Company's expectations, to differ materially from those expressed in or contemplated by the forward-looking statements. Risk factors affecting the Company are discussed in detail in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable securities laws.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Press Release, dated August 29, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document). 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 29, 2024 INTUITIVE MACHINES, INC. By: /s/ Stephen J. Altemus Name: Stephen J. Altemus Title: President and Chief Executive Officer 2