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Polar Terminates Forward Purchase Agreement with Intuitive Machines and IPAX

Business Wire - Thu Feb 23, 2023

On February 22, 2023, Polar Multi-Strategy Master Fund (“Polar”) provided notice of its optional early termination, effective immediately, of that certain Forward Purchase Agreement, dated as of February 9, 2023 (the “Forward Purchase Agreement”), among Polar, Intuitive Machines, LLC and Inflection Point Acquisition Corp. for over-the-counter Equity Prepaid Forward Transactions. Polar terminated the Forward Purchase Agreement with respect to the full 1.25 million shares of Class A common stock of Intuitive Machines, Inc. (NASDAQ: LUNR) (“Intuitive”) that were subject to the Forward Purchase Agreement (such shares, the “Terminated Shares”). Pursuant to the terms of the Forward Purchase Agreement, in connection with such termination in full by Polar, Polar will pay Intuitive the Redemption Price (as defined in the Forward Purchase Agreement) for the Terminated Shares.

Provided Content: Content provided by Business Wire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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