BUZZ-Intuitive Machines descends on deep-discounted equity raise

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BUZZ-Intuitive Machines descends on deep-discounted equity raise

Reuters2024-12-04

** Shares of space exploration co Intuitive Machines

down 17.7% premarket to $11.64 after overnight follow-on priced

** Houston, Texas-based firm late Tues ~9.5 mln shares at $10.50, 25.8% discount to last sale, for offering size of $100 mln

** Co sold ~8.5 mln shares, while Timothy Crain, Intuitive co-founder and chief technology officer, offloaded ~1 mln shares

** Offering size boosted from $65 mln. Click for SEC prospectus filing

Additionally, co sells 952,381 shares, worth $10 mln, to

** Through Tues, LUNR shares have surged ~170% over the past three months and are up more than five-fold YTD

** Last month, co ~360% y/y jump in Q3 rev to $58.5 mln, NASA contracts to deploy relay satellites, and provide communication and navigation services

** Co has ~140.4 mln shares outstanding for $2 bln market cap and ~73.2 mln shares of public float, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))

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