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Space Exploration Startup Intuitive Machines Nears $1 Billion SPAC Merger

Intuitive Machines LLC is nearing a merger with a special-purpose acquisition company that would take the space-exploration infrastructure provider public at a valuation that could top $1 billion, people familiar with the matter said.

Houston-based Intuitive Machines provides data and technology, including small spacecraft and robots, to support lunar missions by the National Aeronautics and Space Administration and others. NASA has said it hired Intuitive to deploy its Nova-C lunar-lander to the moon and also will use a company “hopper” robot on a separate lunar mission. Both operations are part of NASA’s Artemis program and are slated to happen in the next few years.