Intuitive Machines (LUNR) Announces $20M Equity Investment

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Go back to Intuitive Machines (LUNR) Announces $20M Equity Investment

Intuitive Machines Announces $20 Million Equity Investment

August 31, 2023 4:32 PM EDT

HOUSTON, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, Intuitive Machines, or the Company), a leading space exploration, infrastructure, and services company, today announced it has entered into a definitive securities purchase agreement with a certain institutional investor for the issuance and sale of stock and warrants in exchange for a $20 million equity investment. The agreement is expected to close on September 5, 2023, subject to customary closing conditions.

Intuitive Machines intends to use the net proceeds for general corporate purposes and working capital needs as the Company ramps activity across key growth programs. As a result of this... More