Its registration statement now effective, Inflection Point Acquisition today said it has called a Feb. 8 meeting for shareholders to vote on the proposed merger with Intuitive Machines, a space exploration, infrastructure, and services company founded in 2013.
Announced in September, the deal carries a pro forma implied enterprise value of approximately $815 million, representing a 2.8x EV / projected 2023 revenue multiple. Intuitive Machines is expected to have a pro forma equity value of more than $1 billion if the deal is approved, assuming there are no redemptions by Inflection Point stockholders.
Inflection Point currently holds approximately $330 million of cash in trust, including $29 million of committed capital from an affiliate of its sponsor. Intuitive Machines’ existing equity security holders are expected to hold approximately 62% of the outstanding shares post-close, again, assuming no redemptions. Read more.
Source: Inflection Point Acquisition Sets Vote Date on 5M Intuitive Machines Deal