Paris / Houston, Texas / New York, New York, 19 September 2022. – Space exploration company Intuitive Machines, has signed a definitive business combination agreement with Inflection Point Acquisition, a special purpose acquisition company, in order for Intuitive Machines to become a publicly listed firm.
Intuitive Machines is expected to have a pro forma equity value of over US $1 billion with shareholders rolling their holdings into the combined company. The combined company will be named Intuitive Machines Incorporated, which will be listed on Nasdaq. The combined company has secured US $55 million of committed capital, in addition to a US $50 million equity facility provided by CF Principal Investments. The firm expects the latter to fund its business plan to profitability in the next three years.
Intuitive Machines is developing propulsion systems, lunar mobility vehicles, power plants, and human systems. The company is concentrating on four business units: lunar access- and data services, orbital services and space products.
Its forecasted annual revenue for this year is US $102 million, expected to reach US $291 million by 2023. The company has a material contract backlog – mainly with the federal government – of US $188 million.