Intuitive Machines Plans $250 Million Convertible Notes Due 2030

Intuitive Machines Inc. said it intends to raise $250 million through a private offering of convertible senior notes that will mature on Oct. 1, 2030. The space-technology company has granted initial purchasers an option to buy up to an additional $37.5 million of notes. Proceeds will fund capped-call transactions intended to offset potential shareholder dilution, as well as research and development, strategic acquisitions and other general corporate purposes. Pricing terms, including the interest rate and initial conversion price, will be determined at the time of issuance.