Intuitive Machines, a leading space exploration, infrastructure, and services company, announced the pricing of $300 million convertible senior notes due 2030 in a private offering.
The offering was upsized from $250 million to $300 million, with an option for an additional $45 million.
The Notes Offering is expected to close on August 18, 2025, subject to customary closing conditions.
Notes Offering Upsize
Offering increased from $250 million to $300 million.
Net Proceeds
Estimated net proceeds around $291.8 million, after deducting discounts and commissions.
Use of Proceeds
$32.0 million to pay capped call transactions, remaining for general corporate purposes.
Conversion Details
Initial conversion rate of 76.2631 shares per $1,000 principal amount of Notes.
Redemption Terms
Notes not redeemable before October 6, 2028, with redemption conditions post this date.
- The upsizing of the offering indicates strong investor interest in Intuitive Machines.
- Net proceeds will enhance the company's financial position and support its operations, research, and potential acquisitions.
The pricing of the $300 million convertible senior notes is a strategic move by Intuitive Machines to strengthen its financial position and pursue growth opportunities. The increased offering size and favorable conversion terms reflect positive market sentiment towards the company's future prospects.