Why Intuitive Machines Stock Crashed Today

Intuitive Machines announced plans to raise up to $500 million through a new stock offering, causing shares to plummet 12.8%. This is the second major capital raise in less than six months, following a $175 million raise in February. While the stock decline is smaller than the previous offering despite raising significantly more capital, the new issuance will result in 9.1% shareholder dilution.