Business
Intuitive Machines, a Leading Space Exploration Company, to List on Nasdaq Through Merger with Inflection Point Acquisition Corp.
Intuitive Machines is a diversified space exploration, infrastructure, and services company with marquee contracts supporting space exploration and NASA’s
About this update from Intuitive Machines, Inc.
[{"type":"text","content":"\n\nIntuitive Machines is a diversified space exploration, infrastructure, and services company with marquee contracts supporting space exploration and NASA’s $93 billion Artemis program.\n\n\nIntuitive Machines is a leading participant in NASA’s Commercial Lunar Payload Services initiative, having been awarded contracts for three missions to date, more than any other contractor.\n\n\nFor its first mission scheduled for no earlier than Q1 2023, an Intuitive Machines lunar lander, launched on a SpaceX Falcon 9 Rocket, is expected to transport government and commercial payloads to the surface of the Moon, marking the United States’ first return to the Moon since NASA’s last Apollo mission in 1972.\n\n\nIntuitive Machines currently has $188 million in contracted backlog and expects to generate approximately $102 million in revenue in 2022.\n\n\nPro forma implied enterprise value of the combined company is approximately $815 million, representing a 2.8x EV / projected 2023 revenue multiple.\n\n\nIntuitive Machines is expected to have a pro forma equity value of more than $1 billion, assuming there are no redemptions by IPAX's public stockholders.\n\n\n$55 million in committed capital and a $50 million equity facility has been secured in conjunction with the business combination with Inflection Point which Intuitive Machines expects will fund its business plan to profitability over the next 2-3 years.\n\n\nIntuitive Machines’ shareholders will roll 100% of their existing equity holdings into the combined company.\n\n\n HOUSTON & NEW YORK--(BUSINESS WIRE)--\nIntuitive Machines, LLC (“Intuitive Machines” or the “Company”), a leading space exploration, infrastructure, and services company founded in 2013, and Inflection Point Acquisition Corp. (Nasdaq: IPAX, IPAXU, IPAXW) (“Inflection Point”), a special purpose acquisition company, today announced that they have signed a definitive business combination agreement that will result in Intuitive Machines becoming publicly listed.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220916005076/en/(Photo: Intuitive Machines)\nUpon the closing of the transaction, the combined company will be named Intuitive Machines Inc., and its securities will be listed on Nasdaq.\n\n“As the United States plans its return to the Moon after a 50-year ...