Intuitive Machines announces redemption of outstanding warrants

Intuitive Machines (LUNR) has delivered a notice of redemption to redeem all of its outstanding warrants to purchase shares of the Company’s Class A common stock, $0.0001 par value per share that were issued under the Warrant Agreement, dated as of September 21, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent and that remain unexercised at 5:00 p.m., New York City time, on March 6, 2025 for a redemption price of $0.01 per Warrant. Under the terms of the Warrant Agreement, the Company has the right to redeem all of the 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 any 30-day trading period ending on the third business day prior to the date on which a notice of redemption is given. The last sales price of the Class A Common Stock has been at least $18.00 per share on each of 20 trading days within the 30-day trading period ending on January 30, 2025. At the direction of the Company, the Warrant Agent has delivered a notice of redemption to each registered holder of the outstanding Warrants. The Warrants may be exercised by the holders thereof 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 underlying such warrants, at the exercise price of $11.50 per share. Any Warrants that remain unexercised at 5:00 p.m. New York City time on the Redemption Date will be void and no longer exercisable, and the holders of those Warrants will be entitled to receive only the redemption price of $0.01 per warrant.