Inflection Point Acquisition Corp. (NASDAQ:IPAX) announced this morning that it has landed its combination with Intuitive Machines to close following a shareholder vote at its special meeting on February 8.
The combined company’s shares and warrants are expected to trade on Nasdaq under the ticker symbols “LUNR” and “LUNRW,” respectively, on February 14.
The closing announcement noted that the Intuitive Machines will receive about $55 million in proceeds from the deal, which includes a $26 million Series A PIPE. On Friday, Inflection Point struck new forward purchase agreements with investors HGC and Polar, which would have prevented up to 1,250,000 shares from each from being redeemed through close.
The parties announced their $815 million business combination in September 2022. Houston, Texas-based Intuitive Machines has designed a moon lander for future NASA missions as well as other aerospace products.
Earlier this month, NASA updated its mission for the Intuitive Machines lander to include a touchdown in the Moon’s South Pole region in late June 2023.
ADVISORS
- J.P. Morgan Securities LLC is serving as the exclusive financial advisor to Intuitive Machines.
- Cantor Fitzgerald & Co. is serving as exclusive financial advisor and capital markets advisor to Inflection Point.
- Cantor Fitzgerald & Co. is also serving as exclusive placement agent for the PIPE financing.
- Latham & Watkins LLP is serving as legal advisor to Intuitive Machines
- White & Case LLP is serving as legal advisor to Inflection Point.
- DLA Piper LLP (US) is serving as legal counsel to Cantor Fitzgerald & Co.
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...