Intuitive Machines descends after discounted $175 mln stock sale
25/02/2026 14:59
** Moon lander-maker Intuitive Machines LUNR.O shares down 15.1% to $16.04 on Weds after equity raise news
** Houston, Texas-based LUNR says it sold shares (~11.6 mln) to certain institutional investors at $15.12 for total purchase of $175 mln
** Purchase price represents 20% discount to stock's last close of $18.90
** Co says following its Lanteris Space Systems acquisition in Jan, it intends to use this capital to support revenue expansion and investment in technologies to advance communications and data processing networks, including extending flight-proven satellite platforms
** LUNR has ~203.2 mln shares outstanding for about $3.8 bln market cap as of Tues
** With move on the session, shares down ~1.6% YTD and ~31% off their 52-week intraday high of $23.32 hit about a month ago
** 8 analysts rate the stock "buy", 1 rates "hold" and 1 recommends "sell"; median PT $19, per LSEG
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))