Overview
- The transaction totals $800 million, split between $450 million in cash and $350 million in Intuitive Machines stock.
- Closing is expected in the first quarter of 2026 subject to regulatory review, and Advent International will keep an undisclosed stake in the combined company.
- The companies cite about $850 million in trailing 12-month revenue, roughly $920 million in backlog as of Sept. 30, and positive adjusted EBITDA for the combined business.
- Executives say the deal shifts Intuitive Machines from lunar landers to a vertically integrated space prime spanning Earth‑orbit spacecraft and lunar missions, leveraging Lanteris’s defense, communications and science satellite work.
- Shares fell about 5% in premarket trading after Intuitive Machines also reported third-quarter revenue of $52.4 million, a $10 million net loss, and a $235.9 million backlog.