Intuitive Machines, Inc. announced the pricing of $300.0 million aggregate principal amount of 2.500% convertible senior notes due 2030 in a private offering to qualified institutional buyers. The net proceeds from the Notes Offering will be approximately $291.8 million, with $32.0 million allocated for capped call transactions costs. The Notes will accrue interest at an annual rate of 2.500% and mature on October 1, 2030. Noteholders can convert their Notes under certain conditions, with an initial conversion rate of 76.2631 shares of Intuitive Machines’ Class A common stock per $1,000 principal amount of Notes. The Notes are not redeemable prior to October 6, 2028.

In connection with the Notes Offering, Intuitive Machines entered into capped call transactions to reduce potential dilution of Class A common stock upon conversion of the Notes. The capped call transactions have a cap price of $20.9800 per share. Intuitive Machines advises that the option counterparties may engage in derivative transactions related to the Company’s Class A common stock. The Notes are only offered to qualified institutional buyers in a private offering and have not been registered under the Securities Act. For investor inquiries, contact [email protected] and for media inquiries, contact [email protected].

Read more at GlobeNewswire: Intuitive Machines Announces Upsize and Pricing of Private