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
investment, the Company does not currently expect the need to
utilize the previously disclosed and unused $50 million Committed
Equity Facility.
Intuitive Machines CEO Steve Altemus said, “We continue to
execute and lead the development of lunar space with the expected
launch of IM-1 mid-November, and IM-2, IM-3 launches in 2024. In
addition, we have started the transition of NASA’s $719 million
OMES III contract and expect revenue to begin in Q4. This equity
investment will help ensure a smooth transition and provide the
working capital needed to execute for our customer on day 1.”
“We continue to be disciplined and opportunistic with capital.
Given the timing of milestone-based payments, we elected to
strengthen our balance sheet defensively, as we grow and execute on
new programs,” said CFO Erik Sallee.
The stock and warrants mentioned in this Press
Release have not been registered under the Securities Act of 1933,
as amended (the “Securities Act”), or state securities laws and may
not be offered or sold in the United States absent registration
with the Securities and Exchange Commission (“SEC”) or an
applicable exemption from such registration requirements. The
Company has agreed to file a registration statement with the SEC
covering the resale of the stock and warrants issuable in
connection with the investment. This Press Release shall not
constitute an offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. For further information,
please see the Company’s current report on Form 8-K to be filed
with the SEC on or around the closing date.
Advisors
Cantor Fitzgerald & Co. is acting as the
lead-placement agent. ROTH MKM is acting as the co-placement
agent.
Latham & Watkins LLP acted as legal counsel
for the Company. DLA Piper LLP (US) acted as legal counsel for the
placement agents.
About Intuitive Machines
Intuitive Machines is a diversified space company focused on
space exploration. Intuitive Machines supplies space products and
services to support sustained robotic and human exploration to the
Moon, Mars, and beyond. Intuitive Machines’ products and services
are offered through its four business units: Lunar Access Services,
Orbital Services, Lunar Data Services, and Space Products and
Infrastructure. For more information, please visit
www.intuitivemachines.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended. All statements contained in this press release
that do not relate to matters of historical fact should be
considered forward-looking. These forward-looking statements
generally are identified by the words such as “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “strive,” “would,” “strategy,” “outlook,” the
negative of these words or other similar expressions, but the
absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements include but are
not limited to statements regarding: the equity investment and our
missions to the moon and our expected launch timing. These
forward-looking statements reflect the Company’s predictions,
projections, or expectations based upon currently available
information and data. Our actual results, performance or
achievements may differ materially from those expressed or implied
by the forward-looking statements, and you are cautioned not to
place undue reliance on these forward-looking statements. The
following important factors and uncertainties, among others, could
cause actual outcomes or results to differ materially from those
indicated by the forward-looking statements in this press release:
our reliance upon the efforts of our Board and key personnel to be
successful; our limited operating history; our failure to manage
our growth effectively; competition from existing or new companies;
unsatisfactory safety performance of our spaceflight systems or
security incidents at our facilities; failure of the market for
commercial spaceflight to achieve the growth potential we expect;
any delayed launches, launch failures, failure of our satellites or
lunar landers to reach their planned orbital locations, significant
increases in the costs related to launches of satellites and lunar
landers, and insufficient capacity available from satellite and
lunar lander launch providers; our customer concentration; risks
associated with commercial spaceflight, including any accident on
launch or during the journey into space; risks associated with the
handling, production and disposition of potentially explosive and
ignitable energetic materials and other dangerous chemicals in our
operations; our reliance on a limited number of suppliers for
certain materials and supplied components; failure of our products
to operate in the expected manner or defects in our products;
counterparty risks on contracts entered into with our customers and
failure of our prime contractors to maintain their relationships
with their counterparties and fulfill their contractual
obligations; failure to successfully defend protest from other
bidders for government contracts; failure to comply with various
laws and regulations relating to various aspects of our business
and any changes in the funding levels of various governmental
entities with which we do business; our failure to protect the
confidentiality of our trade secrets and know how; our failure to
comply with the terms of third-party open source software our
systems utilize; our ability to maintain an effective system of
internal control over financial reporting, and to address and
remediate existing material weaknesses in our internal control over
financial reporting; the U.S. government’s budget deficit and the
national debt, as well as any inability of the U.S. government to
complete its budget process for any government fiscal year, and our
dependence on U.S. government contracts; our failure to comply with
U.S. export and import control laws and regulations and U.S.
economic sanctions and trade control laws and regulations;
uncertain global macro-economic and political conditions (including
as a result of a failure to raise the “debt ceiling”) and rising
inflation; our history of losses and failure to achieve
profitability and our need for substantial additional capital to
fund our operations; the fact that our financial results may
fluctuate significantly from quarter to quarter; our holding
company status; the risk that our business and operations could be
significantly affected if it becomes subject to any securities
litigation or stockholder activism; our public securities’
potential liquidity and trading; and other factors detailed under
the section titled Part I, Item 1A. Risk Factors of our Annual
Report on Form 10-K for the fiscal year ended December 31, 2022
filed with the Securities and Exchange Commission (the “SEC”) on
March 31, 2023, the section titled Part I, Item 2, Management's
Discussion and Analysis of Financial Condition and Results of
Operations and the section titled Part II. Item 1A. “Risk Factors”
in our Quarterly Report on Form 10-Q for the quarter ended
June 30, 2023 to be filed with the SEC, and in our subsequent
filings with the SEC, which are accessible on the SEC's website at
www.sec.gov and the Investors section of our website at
https://investors.intuitivemachines.com.
These forward-looking statements are based on information
available as of the date of this press release and current
expectations, forecasts, and assumptions, and involve a number of
judgments, risks, and uncertainties. Accordingly, forward-looking
statements should not be relied upon as representing our views as
of any subsequent date, and we do not undertake any obligation to
update forward-looking statements to reflect events or
circumstances after the date they were made, whether as a result of
new information, future events, or otherwise, except as may be
required under applicable securities laws.
Contacts
For investor inquiries:investors@intuitivemachines.com
For media inquiries:press@intuitivemachines.com
Intuitive Machines (NASDAQ:LUNRW)
過去 株価チャート
から 5 2024 まで 6 2024
Intuitive Machines (NASDAQ:LUNRW)
過去 株価チャート
から 6 2023 まで 6 2024