Intuitive Machines' Big Cash Grab Isn't as Scary as It Looks

Intuitive Machines announced a $500 million share sale in early June when its stock was near $46, potentially diluting shareholders by only 7.8%. Though the stock has since crashed 46% due to SpaceX IPO competition and broader market sell-offs, the company may have successfully raised cash before the collapse. The $500 million windfall could fund operations until the company reaches positive free cash flow in 2027-2028, potentially eliminating future capital raises.