04:13 AM EST, 12/04/2024 (MT Newswires) -- Intuitive Machines ( LUNR ) said late Tuesday it priced an upsized offering of about 9.5 million shares of its class A common stock at $10.50 per share.

The company and a selling stockholder granted the underwriters a 30-day option to buy up to an additional about 1.3 million and 152,857 shares, respectively. The offering is expected to close on Thursday.

Intuitive Machines ( LUNR ) will also issue 952,381 shares of class A common stock to Boryung at the public offering price in a concurrent private placement.

The company expects net proceeds from the offering and private placement of about $104.3 million.

Intuitive Machines' ( LUNR ) share price fell more than 14% in premarket activity Wednesday.