Space Exploration Co. Intuitive Machines To Go Public Via SPAC Merger

Lunar-focused space company Intuitive Machines announced Friday it will go public via a merger deal with special purpose acquisition company Inflection Point.

The merger deal with Inflection Point is expected to close in the first quarter of 2023. Intuitive Machines will be listed on the Nasdaq under ticker symbol "LUNR."

Ituitive Machines is a space exploration, infrastructure, and services company with contracts supporting space exploration and NASA's $93 billion Artemis program.

Intuitive Machines currently has $188 million in contracted backlog and expects to generate approximately $102 million in revenue in 2022.

"As the United States plans its return to the Moon after a 50-year absence, Intuitive Machines is excited to play a critical role in providing technologies and services to establish long-term lunar infrastructure and commerce," said Kam Ghaffarian, Ph. D., Co-Founder and Executive Chairman of Intuitive Machines.

Pursuant to the transaction, Inflection Point, which currently holds approximately $330 million of cash in trust, including $29 million of committed capital from an affiliate of its sponsor, will combine with Intuitive Machines.

The pro forma implied enterprise value of the combined company is approximately $815 million.

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