The Firm represented Intuitive Machines Inc. in connection with the offering of $345 million aggregate principal amount of 2.500% Convertible Senior Notes due 2030, which includes the full exercise of the initial purchasers’ option to purchase additional notes. In addition, the Firm represented Intuitive Machines in connection with capped call transactions entered into with certain financial institutions concurrently with the offering of the Notes.
Intuitive Machines intends to use a portion of the net proceeds from the notes offering to pay the cost of the capped call transactions and the remaining net proceeds for general corporate purposes, including operations, research and development and potential acquisitions.
Intuitive Machines is a diversified space technology, infrastructure, and services company focused on fundamentally disrupting lunar access economics. In 2024, Intuitive Machines successfully soft-landed the Company’s Nova-C class lunar lander on the Moon, returning the United States to the lunar surface for the first time since 1972. In 2025, Intuitive Machines returned to the lunar south pole with a second lander. The Company’s products and services are focused through three pillars of space commercialization: Delivery Services, Data Transmission Services, and Infrastructure as a Service.
The Simpson Thacher team included William Golden, Roxane Reardon, Matt Hart, Samantha Sergent, Charlotte Bowe, and Noor Irshaidat (Capital Markets); Jonathan Lindabury, Marc Langer, and Jhaton White (Derivatives); Jonathan Cantor, Andrew Purcell, Edward Grais, and Jemma Li (Tax); Jeanne Annarumma (ECEB); and Adam Moss and Sally Choi (Banking and Credit).