Intuitive Machines descends after stock offering launch

Boryung

03/12/2024 21:53

**  Shares of space exploration co Intuitive Machines
 LUNR.O  descend 14% to $12.17 post-market on equity raise plans
  
    ** Houston, Texas-based firm  $65 mln stock offering,
including sale by existing holder
  
    ** Additionally, co says on Dec 2 it entered into agreement
with South Korea's 
  
    
      
    
  
    
      
    
  
    ** LUNR finished session on Tues down 2.8% at $14.15. But
shares have gained 172% over the past three months
  
    ** Last month, co  ~360% y/y jump in Q3 rev to $58.5 mln, 
NASA contracts to deploy relay satellites, and provide
communication and navigation services
  
    ** Co has ~140.4 mln shares outstanding for $2 bln market
cap and ~73.2 mln shares of public float, per LSEG
    
  

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))