Intuitive Machines, LLC (“Intuitive Machines” or the “Company”),
a leading space exploration, infrastructure, and services company,
today announced it will work alongside Jacobs Solutions Inc.
(“Jacobs”) (NYSE: J) to safely and successfully accomplish the
goals and contractual requirements within NASA’s Johnson Space
Center Engineering, Technology, and Science (JETS) II contract.
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Intuitive Machines, LLC (“Intuitive
Machines”), a leading space exploration, infrastructure, and
services company, today announced it will work alongside Jacobs
Solutions Inc. (“Jacobs”) (NYSE: J) to safely and successfully
accomplish the goals and contractual requirements within NASA’s
Johnson Space Center Engineering, Technology, and Science (JETS) II
contract. Source: Intuitive Machines
Under this agreement, Intuitive Machines is assisting Jacobs to
provide engineering and scientific products, technical services,
and related services for the NASA Johnson Space Center in Houston,
other NASA centers, and government agencies.
The total JETS II cost-plus award fee,
indefinite-delivery/indefinite-quantity contract has a potential
base value of approximately $1.8 billion. The contract contains an
option to convert to a cost-plus-fixed-fee contract, and the
ability to issue firm-fixed-price task orders. The contract began
on Oct 1, 2022, with a five-year base period, followed by two
two-year option periods and one one-year option period, which
increase the potential value to approximately $3.9 billion. The
contract has a total potential performance period of 10 years.
“We believe that being selected to join Jacobs in supporting
NASA’s JETS II contract reflects Intuitive Machines’ history of
delivering reliable and innovative engineering services,” said
Steve Altemus, Co-Founder, President, and CEO of Intuitive
Machines. “Working with Jacobs, Intuitive Machines is continuing to
build its Space Products and Services business line, and we could
not be prouder to join this exceptional team.”
Intuitive Machines is currently executing six other NASA
engineering service contracts:
- NASA Human Space Flight Technical Integration Contract
- NASA Mission Systems Operations Contract
- NASA Mechanical Integration Services and Technologies II
Contract
- NASA Ground Systems and Mission Operations III Contract
- NASA Intelligent Systems Research Contract
- NASA Human Health and Performance Contract
As previously announced on Sept. 16, 2022, Intuitive Machines
signed a definitive business combination agreement with Inflection
Point Acquisition Corp. (Nasdaq: IPAX, IPAXU, IPAXW) (“Inflection
Point”), a publicly traded special purpose acquisition company,
that is expected to result in Intuitive Machines becoming publicly
listed. Completion of the transaction is subject to approval by
Inflection Point’s shareholders, the Registration Statement being
declared effective by the Securities and Exchange Commission (the
“SEC”), and other customary closing conditions.
About Intuitive Machines
Intuitive Machines is a diversified space company focused on
space exploration. Intuitive Machines supplies space products and
services to support sustained robotic and human exploration to the
Moon, Mars, and beyond. Intuitive Machines’ products and services
are offered through its four business units: Lunar Access Services,
Orbital Services, Lunar Data Services, and Space Products and
Infrastructure. For more information, please visit
intuitivemachines.com.
About Inflection Point
Inflection Point is a blank check company formed for the purpose
of identifying and partnering with North American and European
businesses in the consumer and technology sectors. Inflection
Point’s financial sponsor is an affiliate of Kingstown Capital
Management, LP, an investment firm. For more information, please
visit inflectionpointacquisition.com.
Additional Information and Where to Find It
This press release relates to a proposed transaction between
Intuitive Machines and Inflection Point (the “Business
Combination”). In connection with the Business Combination,
Inflection Point has filed a registration statement on Form S-4
(the “Registration Statement”) with the SEC (as amended by
Amendment No. 1 to the Registration Statement, filed on December 1,
2022), which includes a preliminary proxy statement/prospectus to
be distributed to holders of Inflection Point’s ordinary shares in
connection with Inflection Point’s solicitation of proxies for the
vote by Inflection Point’s shareholders with respect to the
Business Combination and other matters as described in the
Registration Statement, as well as a prospectus relating to the
offer of securities to be issued to Intuitive Machines equity
holders in connection with the Business Combination. After the
Registration Statement has been declared effective, Inflection
Point will mail a copy of the definitive proxy
statement/prospectus, when available, to its shareholders. The
Registration Statement includes information regarding the persons
who may, under the SEC rules, be deemed participants in the
solicitation of proxies to Inflection Point’s shareholders in
connection with the Business Combination. Inflection Point will
also file other documents regarding the Business Combination with
the SEC. Before making any voting decision, investors and security
holders of Inflection Point and Intuitive Machines are urged to
read the Registration Statement, the proxy statement/prospectus
contained therein, and all other relevant documents filed or that
will be filed with the SEC in connection with the Business
Combination as they become available because they will contain
important information about the Business Combination.
Investors and security holders will be able to obtain free
copies of the Registration Statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by Inflection Point through the website
maintained by the SEC at www.sec.gov. In addition, the documents
filed by Inflection Point may be obtained free of charge from
Inflection Point’s website at www.inflectionpointacquisition.com or
by written request to Inflection Point at Inflection Point
Acquisition Corp., 34 East 51st Street, 5th Floor, New York, NY
10022.
No Offer or Solicitation
This press release is for informational purposes only and shall
neither constitute an offer to sell nor the solicitation of an
offer to buy any securities, nor a solicitation of a proxy, vote,
consent or approval in any jurisdiction in connection with the
Business Combination, nor shall there be any sale of securities in
any jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdictions. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act, or an
exemption therefrom.
Forward Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the Business Combination. These forward-looking statements
generally are identified by the words “believe,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties that could cause the actual results to differ
materially from the expected results. Many factors could cause
actual future events to differ materially from the forward-looking
statements in this document, including but not limited to: (i) the
risk that the Business Combination may not be completed in a timely
manner or at all, which may adversely affect the price of
Inflection Point’s securities, (ii) the risk that the Business
Combination may not be completed by Inflection Point’s business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by
Inflection Point, (iii) the failure to satisfy the conditions to
the consummation of the Business Combination, including the receipt
of the requisite approvals of Inflection Point’s shareholders and
Intuitive Machines’ equity holders, respectively, and the receipt
of certain governmental and regulatory approvals, (iv) the
occurrence of any event, change or other circumstance that could
give rise to the termination of the business combination agreement,
(v) the effect of the announcement or pendency of the Business
Combination on Intuitive Machines’ business relationships,
performance, and business generally, (vi) risks that the Business
Combination disrupts current plans of Intuitive Machines and
potential difficulties in Intuitive Machines employee retention as
a result of the Business Combination, (vii) the outcome of any
legal proceedings that may be instituted against Intuitive Machines
or against Inflection Point related to the agreement and plan of
merger or the Business Combination, (viii) the ability to maintain
the listing of Inflection Point’s securities on Nasdaq, (ix) the
price of Inflection Point’s securities may be volatile due to a
variety of factors, including changes in the competitive and highly
regulated industries in which Intuitive Machines plans to operate,
variations in performance across competitors, changes in laws and
regulations affecting Intuitive Machines’ business and changes in
the combined capital structure, (x) the ability to implement
business plans, forecasts, and other expectations after the
completion of the Business Combination and identify and realize
additional opportunities, (xi) the impact of the global COVID-19
pandemic, (xii) the market for commercial human spaceflight has not
been established with precision, it is still emerging and may not
achieve the growth potential Intuitive Machines expects or may grow
more slowly than expected, (xiii) space is a harsh and
unpredictable environment where Intuitive Machines’ products and
service offerings are exposed to a wide and unique range of
environmental risks, which could adversely affect Intuitive
Machines’ launch vehicle and spacecraft performance, (xiv)
Intuitive Machines’ business with various governmental entities is
subject to the policies, priorities, regulations, mandates and
funding levels of such governmental entities and may be negatively
or positively impacted by any change thereto, (xv) Intuitive
Machines’ limited operating history makes it difficult to evaluate
its future prospects and the risks and challenges they may
encounter and (xvi) other risks and uncertainties described in
Inflection Point’s registration statement on Form S-1 (File No.
333-253963), which was originally filed with the SEC on September
21, 2021 (the “Form S-1”), in its Annual Report on Form 10-K for
the year ended 2021 and its subsequent Quarterly Reports on Form
10-Q, the Registration Statement and Amendment No. 1 to the
Registration Statement filed with the SEC on December 1, 2022, the
proxy statement/prospectus contained therein, and any other
documents filed by Inflection Point from time to time with the SEC.
The foregoing list of factors is not exhaustive. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
investors as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. You should carefully
consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the Form
S-1, the Annual Report on Form 10-K for the year ended 2021, the
Quarterly Reports on Form 10-Q, the Registration Statement, the
proxy statement/prospectus contained therein, and the other
documents filed by Inflection Point from time to time with the SEC.
These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
These risks and uncertainties may be amplified by the COVID-19
pandemic, which has caused significant economic uncertainty.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Intuitive Machines and Inflection Point assume no
obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by securities and
other applicable laws. Neither Intuitive Machines nor Inflection
Point gives any assurance that either Intuitive Machines or
Inflection Point, respectively, will achieve its expectations.
Participants in the Solicitation
Inflection Point and Intuitive Machines and their respective
directors and officers may be deemed to be participants in the
solicitation of proxies from Inflection Point’s shareholders in
connection with the Business Combination. Information about
Inflection Point’s directors and executive officers and their
ownership of Inflection Point’s securities is set forth in
Inflection Point’s filings with the SEC. To the extent that
holdings of Inflection Point’s securities have changed since the
amounts printed in Inflection Point’s Annual Report on Form 10-K
for the year ended 2021, such changes have been or will be
reflected on Statements of Change in Ownership on Form 4 filed with
the SEC. Additional information regarding the interests of those
persons and other persons who may be deemed participants in the
Business Combination may be obtained by reading the proxy
statement/prospectus regarding the Business Combination when it
becomes available. You may obtain free copies of these documents as
described in the preceding paragraph.
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For investor inquiries: investors@intuitivemachines.com For
media inquiries: press@intuitivemachines.com
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