Intuitive Machines, LLC (“Intuitive Machines” or the “Company”),
a leading space exploration, infrastructure, and services company,
is collaborating with NASA to prioritize the return of lunar
scientific data in support of the Artemis Program. As part of this
joint effort, Intuitive Machines will shift the landing site of its
first mission to the lunar South Pole Region in support of NASA’s
priority objectives.
“Redirecting Intuitive Machines’ IM-1 mission landing site is a
testament to our collective commitment to supporting NASA’s Artemis
Program and advancing lunar exploration for the benefit of
humanity,” said Steve Altemus, Co-Founder, President and CEO of
Intuitive Machines. “The Company is honored to accept the historic
and scientific responsibility of bringing the United States to the
lunar South Pole Region for the first time ever.”
Intuitive Machines is working closely with its stakeholders to
ensure a seamless landing site change. The landing date is
currently scheduled for late June of 2023. This change is expected
to positively impact Intuitive Machines’ backlog. More importantly,
Intuitive Machines views this as a significant win for the Artemis
Program.
NASA has its sights set on locations around the South Pole
Region for the Artemis era of human lunar exploration. The agency
has identified the South Pole Region as one with characteristics
that hold promise for unprecedented deep-space scientific
discoveries, like discovering water ice on the Moon. Intuitive
Machines’ Nova-C lunar lander would become the first spacecraft to
land on the Moon’s South Pole Region.
As previously announced, Intuitive Machines signed a definitive
business combination agreement with Inflection Point Acquisition
Corp. (Nasdaq: IPAX, IPAXU, IPAXW) (“Inflection Point”), a publicly
traded special purpose acquisition company, that is expected to
result in Intuitive Machines becoming publicly listed. Completion
of the transaction is subject to approval by Inflection Point’s
shareholders and other customary closing conditions.
About Intuitive Machines
Intuitive Machines is a diversified space company focused on
space exploration. Intuitive Machines supplies space products and
services to support sustained robotic and human exploration to the
Moon, Mars, and beyond. Intuitive Machines’ products and services
are offered through its four business units: Lunar Access Services,
Orbital Services, Lunar Data Services, and Space Products and
Infrastructure. For more information, please visit
intuitivemachines.com.
About Inflection Point
Inflection Point is a blank check company formed for the purpose
of identifying and partnering with North American and European
businesses in the consumer and technology sectors. Inflection
Point’s financial sponsor is an affiliate of Kingstown Capital
Management, LP, an investment firm. For more information, please
visit inflectionpointacquisition.com.
Additional Information and Where to Find It
This press release relates to a proposed transaction between
Intuitive Machines and Inflection Point (the “Business
Combination”). The Business Combination will be submitted to
shareholders of Inflection Point for their consideration. In
connection with the Business Combination, Inflection Point has
filed a definitive proxy statement/prospectus, dated January 24,
2023, as may be further supplemented or amended from time to time
(the “Definitive Proxy Statement/Prospectus”). Inflection Point’s
shareholders and other interested persons are advised to read the
Definitive Proxy Statement/Prospectus and documents incorporated by
reference therein filed in connection with Inflection Point’s
solicitation of proxies for its extraordinary general meeting of
shareholders to be held to approve the Business Combination and
other matters, as these materials contain or will contain important
information about Inflection Point, Intuitive Machines and the
Business Combination. The Definitive Proxy Statement/Prospectus and
other relevant materials for the Business Combination have been
mailed to shareholders of Inflection Point as of January 10, 2023,
the record date for voting on the Business Combination.
Shareholders of Inflection Point may obtain copies of the
Definitive Proxy Statement/Prospectus and other documents that are
filed or will be filed with the SEC or that are incorporated by
reference therein, without charge, once available, at the SEC’s
website located at www.sec.gov or by directing a request to:
Inflection Point at Inflection Point Acquisition Corp., 34 East
51st Street, 5th Floor, New York, NY 10022.
No Offer or Solicitation
This press release is for informational purposes only and shall
neither constitute an offer to sell nor the solicitation of an
offer to buy any securities, nor a solicitation of a proxy, vote,
consent or approval in any jurisdiction in connection with the
Business Combination, nor shall there be any sale of securities in
any jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdictions. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act, or an
exemption therefrom.
Forward Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the Business Combination. These forward-looking statements
generally are identified by the words “believe,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties that could cause the actual results to differ
materially from the expected results. Many factors could cause
actual future events to differ materially from the forward-looking
statements in this document, including but not limited to: (i) the
risk that the Business Combination may not be completed in a timely
manner or at all, which may adversely affect the price of
Inflection Point’s securities, (ii) the risk that the Business
Combination may not be completed by Inflection Point’s business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by
Inflection Point, (iii) the failure to satisfy the conditions to
the consummation of the Business Combination, including the receipt
of the requisite approvals of Inflection Point’s shareholders and
the receipt of certain governmental and regulatory approvals, (iv)
the occurrence of any event, change or other circumstance that
could give rise to the termination of the business combination
agreement, (v) the effect of the announcement or pendency of the
Business Combination on Intuitive Machines’ business relationships,
performance, and business generally, (vi) risks that the Business
Combination disrupts current plans of Intuitive Machines and
potential difficulties in Intuitive Machines employee retention as
a result of the Business Combination, (vii) the outcome of any
legal proceedings that may be instituted against Intuitive Machines
or against Inflection Point related to the business combination
agreement or the Business Combination, (viii) the ability to
maintain the listing of Inflection Point’s securities on Nasdaq,
(ix) the price of Inflection Point’s securities may be volatile due
to a variety of factors, including changes in the competitive and
highly regulated industries in which Intuitive Machines plans to
operate, variations in performance across competitors, changes in
laws and regulations affecting Intuitive Machines’ business and
changes in the combined capital structure, (x) the ability to
implement business plans, forecasts, and other expectations after
the completion of the Business Combination and identify and realize
additional opportunities, (xi) the impact of the global COVID-19
pandemic, (xii) the market for commercial human spaceflight has not
been established with precision, it is still emerging and may not
achieve the growth potential Intuitive Machines expects or may grow
more slowly than expected, (xiii) space is a harsh and
unpredictable environment where Intuitive Machines’ products and
service offerings are exposed to a wide and unique range of
environmental risks, which could adversely affect Intuitive
Machines’ launch vehicle and spacecraft performance, (xiv)
Intuitive Machines’ business with various governmental entities is
subject to the policies, priorities, regulations, mandates and
funding levels of such governmental entities and may be negatively
or positively impacted by any change thereto, (xv) Intuitive
Machines’ limited operating history makes it difficult to evaluate
its future prospects and the risks and challenges they may
encounter and (xvi) other risks and uncertainties described in
Inflection Point’s registration statement on Form S-1 (File No.
333-253963), which was originally filed with the SEC on September
21, 2021 (the “Form S-1”), in its Annual Report on Form 10-K for
the year ended 2021 and its subsequent Quarterly Reports on Form
10-Q, the Definitive Proxy Statement/Prospectus, and any other
documents filed by Inflection Point from time to time with the SEC.
The foregoing list of factors is not exhaustive. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
investors as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. You should carefully
consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the Form
S-1, the Annual Report on Form 10-K for the year ended 2021, the
Quarterly Reports on Form 10-Q, the Definitive Proxy
Statement/Prospectus, and the other documents filed by Inflection
Point from time to time with the SEC. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. These risks and uncertainties
may be amplified by the COVID-19 pandemic, which has caused
significant economic uncertainty. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Intuitive
Machines and Inflection Point assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise, except as required by securities and other applicable
laws. Neither Intuitive Machines nor Inflection Point gives any
assurance that either Intuitive Machines or Inflection Point,
respectively, will achieve its expectations.
Participants in the Solicitation
Inflection Point and Intuitive Machines and their respective
directors and officers may be deemed to be participants in the
solicitation of proxies from Inflection Point’s shareholders in
connection with the Business Combination. Information about
Inflection Point’s directors and executive officers and their
ownership of Inflection Point’s securities is set forth in
Inflection Point’s filings with the SEC. To the extent that
holdings of Inflection Point’s securities have changed since the
amounts printed in Inflection Point’s Annual Report on Form 10-K
for the year ended 2021, such changes have been or will be
reflected on Statements of Change in Ownership on Form 4 filed with
the SEC. Additional information regarding the interests of those
persons and other persons who may be deemed participants in the
Business Combination may be obtained by reading the Definitive
Proxy Statement/Prospectus regarding the Business Combination when
it becomes available. You may obtain free copies of these documents
as described in the preceding paragraph.
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version on businesswire.com: https://www.businesswire.com/news/home/20230206005199/en/
For investor inquiries: investors@intuitivemachines.com
For media inquiries: press@intuitivemachines.com
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