Intuitive Machines Completes SPAC Merger, Aims to Gain Foothold in Space Exploration Market

Intuitive Machines will start trading common stock on Nasdaq as a result of the space technology developer’s merger with New York-based special purpose acquisition company Inflection Point Acquisition Corp.

The combined entity will trade under the ticker symbol LUNR and will receive $55 million from an affiliate of company founders and sponsors, Intuitive Machines said Monday.

Shareholders at Inflection Point approved the transaction, which was first announced in September 2022, during their general meeting held Wednesday.

“This merger accelerates and strengthens Intuitive Machines’ strategic plan to help expedite a thriving commercial ecosystem for space for the benefit of human civilization,” said Kam Ghaffarian, co-founder and executive chairman of Intuitive Machines.

The Houston-based company noted warrants will also trade on the same stock exchange under the ticker symbol LUNRW.