Intuitive Machines Inc. (NASDAQ:LUNR) revealed a $175 million strategic equity infusion led by global institutional investors, an announcement that was followed by a 13.3% drop in the company’s shares during premarket trading on Wednesday.
The company said it will deploy the proceeds to accelerate revenue expansion and to invest in communications and data processing network technologies. The financing follows Intuitive Machines’ January acquisition of Lanteris Space Systems, and the company said the funding will be used in part to integrate and scale the combined capabilities.
Intuitive Machines outlined plans to broaden its Near Space Network Services and to pursue what it described as the establishment of a solar system internet independent of Earth. The company specifically cited targeted investments in Lanteris platforms, calling out the 1300 series, as a means to expand market share in Geostationary Orbit, increase capability in lunar operations, extend reach to Mars, and support on-orbit data processing and edge computing.
Management said the capital will strengthen Intuitive Machines’ position to pursue higher-margin programs that generate recurring revenue. Programs listed as potential beneficiaries of the investment include Golden Dome initiatives, the Tracking and Data Relay Satellite System, the Mars Telecommunications Orbiter, and opportunities in the space-based orbital data center market.
"We are building a scalable infrastructure platform from low-Earth orbit to the Moon and into deep space," CEO Steve Altemus said. "With this investment, we can accelerate the integration of the combined company’s collective capabilities to deliver next-generation data, communications, and space-based infrastructure services."
The company noted it remains in a holding pattern for several near-term awards that could affect its program outlook. Pending decisions named by Intuitive Machines include NASA’s Lunar Terrain Vehicle Services, the forthcoming Commercial Lunar Payload Services award, and follow-on contracts tied to the Proliferated Warfighter Space Architecture satellite programs.
Under the terms of a definitive securities purchase agreement, Intuitive Machines will issue and sell Class A common stock in exchange for the $175 million investment. The company expects the transaction to close on February 27, 2026, subject to customary closing conditions.
Context and market reaction
Investors reacted sharply in premarket trading to the financing announcement, sending shares down 13.3% as the company detailed its planned use of proceeds and integration strategy following the Lanteris acquisition.