Intuitive Machines shares fall 14.73% intraday after announcing a $250 million convertible notes offering.

Intuitive Machines, Inc. declined 14.73% intraday, with the company announcing a proposed private offering of convertible senior notes. The stock fell after the company announced a proposed private offering of $250 million in convertible senior notes due in 2030 in a private offering to institutional buyers. The company intends to grant the initial buyers a 13-day option to purchase up to an additional $37.5 million in notes.