Intuitive Machines raises $20M via stock/warrant placement; affiliate invests $3.2M

Intuitive Machines, Inc.

Sold 4.7M shares and warrants to an institutional investor for $20M gross proceeds at $4.75 exercise price.
Ghaffarian Enterprises (affiliate of chairman) invested $3.2M for OpCo units and Class A/C shares at $9.51/unit.
CEO says IM-1 lunar mission expected mid-November 2023; IM-2/IM-3 launches in 2024.
Transition of NASA's $719M OMES III contract started; revenue expected in Q4 2023.
Company says it no longer expects to need the previously announced $50M Committed Equity Facility.

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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 Registration Rights Agreement with the Purchaser (effective 2023-08-30).

Action: entry
Counterparty: the Purchaser
Effective: 2023-08-30

Exact text from the filing

On August 30, 2023, in connection with the entry into the Purchase Agreement, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”) with the Purchaser.

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

Intuitive Machines, Inc. entered into Securities Purchase Agreement with the purchaser named therein valued at aggregate gross proceeds of approximately $20.0 million (effective 2023-08-30).

Action: entry
Agreement: equity purchase
Counterparty: the purchaser named therein
Value: aggregate gross proceeds of approximately $20.0 million
Effective: 2023-08-30

Exact text from the filing

On August 30, 2023, Intuitive Machines, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with the purchaser named therein (the “Purchaser”), pursuant to which the Company agreed to sell securities to the Purchaser in a private placement (the “Private Placement”).

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Intuitive Machines, Inc. filing history →

Source: SEC EDGAR

accession 0001844452-23-000051

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