Inflection Point Acquisition in an 8-K said sharehodewrs voted in favor of combining with Intuitive Machines, a space exploration, infrastructure, and services company founded in 2013.
The SPAC said 23,583,061 shares were voted in support of the merger with 10,170,081 against. The 8-K did not mention redemptions, if any, nor did it cite an anticipated closing date on the deal.
As announced in September, the deal carried a pro forma implied enterprise value of approximately $815 million, representing a 2.8x EV / projected 2023 revenue multiple. Intuitive Machines was expected to have a pro forma equity value of more than $1 billion if the deal is approved — although that assumed there were no redemptions by Inflection Point stockholders. Read more.