Intuitive Machines, Inc. (NASDAQ: LUNR, LUNRW) has announced the redemption of all its outstanding warrants to purchase shares of the company's class A common stock. The redemption price for each warrant is $0.01.
Under the terms of the warrant agreement, the company has the right to redeem all outstanding warrants if the last sales price of the class A common stock is at least $18.00 per share for any 20 trading days within a 30-day trading period. The last sales price of the class A common stock met this condition on each of the 20 trading days within the 30-day trading period ending on January 30, 2025.
The warrants may be exercised by the holders until 5:00 p.m. New York City time on the redemption date to purchase fully paid and non-assessable shares of class A common stock at the exercise price of $11.50 per share. Any unexercised warrants at the redemption date will become void and no longer exercisable, with holders entitled to receive only the redemption price of $0.01 per warrant.
The shares of class A common stock underlying the warrants have been registered by the company under the Securities Act of 1933 and are covered by a registration statement filed on Form S-3 with the Securities and Exchange Commission (Registration No. 333-278288).
Intuitive Machines, Inc. is a leading space exploration, infrastructure, and services company that successfully landed its nova-C class lunar lander, Odysseus, on the moon in 2024, marking the United States' return to the lunar surface for the first time since 1972. The company's products and services are offered through its four in-space business units: lunar access services, orbital services, lunar data services, and space products and infrastructure. Today the company's shares have moved -0.7% to a price of $21.55. For more information, read the company's full 8-K submission here.
