Intuitive Machines to go public as a space exploration company after merger with SPAC Inflection Point Acquisition

Dow Jones

Sep 16, 2022

MW Intuitive Machines to go public as a space exploration company after merger with SPAC Inflection Point Acquisition

Space exploration company Intuitive Machines announced Friday that it will go public through a merger with special purpose acquisition company (SPAC) Inflection Point Acquisition Corp. in a deal that values the combined company at about $815 million. When the deal closes, which is expected to occur in the first quarter of 2023, the combined company will be named Intuitive Machines Inc. and the stock will be listed on the Nasdaq, but the new ticker symbol has not yet been determined. Intuitive Machines said it currently has $188 million in contracted backlog and expects to generate revenue of approximately $102 million in 2022. The company said for its first space mission scheduled for no earlier than the first quarter of 2023, its lunar lander is expected to transport government and commercial payloads to the moon. Inflection Point's stock, which is still inactive in premarket trading, has gained 1.0% over the past three months while the S&P 500 has tacked on 2.9%.

-Tomi Kilgore

(END) Dow Jones Newswires

September 16, 2022 07:14 ET (11:14 GMT)

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Inflection Point's stock, which is still inactive in premarket trading, has gained 1.0% over the past three months while the S&amp;P 500  has tacked on 2.9%. \n</p>\n<p>\n  -Tomi Kilgore \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 16, 2022 07:14 ET (11:14 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Intuitive Machines to go public as a space exploration company after merger with SPAC Inflection Point Acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIntuitive Machines to go public as a space exploration company after merger with SPAC Inflection Point Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-09-16 19:14</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Intuitive Machines to go public as a space exploration company after merger with SPAC Inflection Point Acquisition\n</p>\n<p>\n  Space exploration company Intuitive Machines announced Friday that it will go public through a merger with special purpose acquisition company (SPAC) <a href=\"https://laohu8.com/S/IPAX\">Inflection Point Acquisition Corp</a>.  in a deal that values the combined company at about $815 million. 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When the deal closes, which is expected to occur in the first quarter of 2023, the combined company will be named Intuitive Machines Inc. and the stock will be listed on the Nasdaq, but the new ticker symbol has not yet been determined. Intuitive Machines said it currently has $188 million in contracted backlog and expects to generate revenue of approximately $102 million in 2022. The company said for its first space mission scheduled for no earlier than the first quarter of 2023, its lunar lander is expected to transport government and commercial payloads to the moon. 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