Tiger Brokers

BUZZ-Intuitive Machines falls after announcing $250 mln convertible bond deal

Reuters
Aug 14
BUZZ-<a href="https://laohu8.com/S/LUNR">Intuitive Machines</a> falls after announcing $250 mln convertible bond deal

** Shares of moon lander-maker Intuitive Machines LUNR.O down 12.3% post-market to $9.20 on capital raise plans

** Houston-Texas-based firm announces private offering of $250 mln 5-yr convertible bonds

** It plans to use net proceeds for general purposes, including operations, R&D and potential acquisitions

** Co also intends to use portion of proceeds to pay for capped calls, derivative transactions to offset dilution

** LUNR has ~$1.9 bln market cap, per LSEG data

** Shares on Wed edged up 0.3% to $10.49, trimming YTD loss to 42%

** Of 9 analysts covering LUNR, recommendation breakdown is 6 "buy", 2 "hold" and 1 "sell" and median PT is $16 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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