Intuitive Machines raises $11.8M via warrant exercise, issues new warrants for up to 9.4M shares

Intuitive Machines, Inc.

Exercised existing Series B warrant for 4,705,883 shares at $2.50, gross proceeds $11.8M.
Investor received New Series A & B warrants each for 4,705,883 shares at $2.75, subject to stockholder approval.
New warrants include 9.99% beneficial ownership cap; Co. to file resale registration with SEC.
Cantor Fitzgerald acted as exclusive warrant inducement agent for the transaction.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Intuitive Machines, Inc. entered into warrant exercise agreement with an existing accredited investor valued at approximately $11.8 million (effective 2024-01-10).

Action: entry
Agreement: equity purchase
Counterparty: an existing accredited investor
Value: approximately $11.8 million
Effective: 2024-01-10

Exact text from the filing

On January 10, 2024, Intuitive Machines, Inc. (the “ Company ”) entered into a warrant exercise agreement (the “ warrant exercise agreement ”) with an existing accredited investor (the “ Investor ”) to exercise in full an outstanding Series B Common Stock Purchase Warrant

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Intuitive Machines, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-002818

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