LUNRW Intuitive Machines Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 3 )*

 

Intuitive Machines, Inc.

(Name of Issuer)

 

Class A Common Stock

(Title of Class of Securities)

 

46125A100

(CUSIP Number)

 

Kamal Seyed Ghaffarian
5937 Sunnyslope Drive

Naples, FL 34119
(301) 486-3150

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

September 12, 2024

(Date of Event Which Requires Filing of This Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. ☐

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No.  46125A100

13D

Page 2 of 8 pages

 

1	Names of Reporting Persons   Kamal Seyed Ghaffarian
2	Check the Appropriate Box if a Member of a Group	(a)  ☐  (b)  ☐
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ☐
6	Citizenship or Place of Organization   United States

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH		7	Sole Voting Power   67,434
		8	Shared Voting Power   46,389,203
		9	Sole Dispositive Power   67,434
		10	Shared Dispositive Power   46,389,203

11	Aggregate Amount Beneficially Owned by Each Reporting Person   46,456,637
12	Check if the Aggregate Amount in Row (11) Excludes Certain Shares ☐
13	Percent of Class Represented by Amount in Row (11)   43.9%
14	Type of Reporting Person   IN

 

 

CUSIP No.  46125A100

13D

Page 3 of 8 pages

 

1	Names of Reporting Persons   Ghaffarian Enterprises, LLC
2	Check the Appropriate Box if a Member of a Group	(a)  ☐  (b)  ☐
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ☐
6	Citizenship or Place of Organization   Maryland

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH		7	Sole Voting Power   0
		8	Shared Voting Power   42,606,274
		9	Sole Dispositive Power   0
		10	Shared Dispositive Power   42,606,274

11	Aggregate Amount Beneficially Owned by Each Reporting Person   42,606,274
12	Check if the Aggregate Amount in Row (11) Excludes Certain Shares ☐
13	Percent of Class Represented by Amount in Row (11)   41.8%
14	Type of Reporting Person   OO

 

 

CUSIP No.  46125A100

13D

Page 4 of 8 pages

 

1	Names of Reporting Persons   Intuitive Machines KG Parent, LLC
2	Check the Appropriate Box if a Member of a Group	(a)  ☐  (b)  ☐
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ☐
6	Citizenship or Place of Organization   Delaware

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH		7	Sole Voting Power   0
		8	Shared Voting Power   1,541,809
		9	Sole Dispositive Power   0
		10	Shared Dispositive Power   1,541,809

11	Aggregate Amount Beneficially Owned by Each Reporting Person   1,541,809
12	Check if the Aggregate Amount in Row (11) Excludes Certain Shares ☐
13	Percent of Class Represented by Amount in Row (11)   2.4%
14	Type of Reporting Person   OO

 

 

CUSIP No.  46125A100

13D

Page 5 of 8 pages

 

1	Names of Reporting Persons   GM Enterprises, LLC
2	Check the Appropriate Box if a Member of a Group	(a)  ☐  (b)  ☐
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e) ☐
6	Citizenship or Place of Organization   Delaware

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH		7	Sole Voting Power   0
		8	Shared Voting Power   2,241,120
		9	Sole Dispositive Power   0
		10	Shared Dispositive Power   2,241,120

11	Aggregate Amount Beneficially Owned by Each Reporting Person   2,241,120
12	Check if the Aggregate Amount in Row (11) Excludes Certain Shares ☐
13	Percent of Class Represented by Amount in Row (11)   3.4%
14	Type of Reporting Person   OO

 

 

CUSIP No.  46125A100

13D

Page 6 of 8 pages

 

Explanatory Note

 

This Amendment No. 3 to Schedule 13D (this “Amendment No. 3”) amends and supplements the statement on Schedule 13D filed with the United States Securities and Exchange Commission on February 8, 2024 (as amended to date, the “Schedule 13D”), relating to the Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), of Intuitive Machines, Inc., a Delaware corporation (the “Issuer”). Capitalized terms used herein without definition shall have the meaning set forth in the Schedule 13D.

 

Item 5. Interest in Securities of the Issuer.

 

Item 5 of the Schedule 13D is hereby amended and restated in its entirety with the following:

 

(a)– (b)

 

The following sets forth, as of the date of this Schedule 13D, the aggregate number of shares of Class A Common Stock and percentage of Class A Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Class A Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 62,923,974 shares of Class A Common Stock outstanding as of August 7, 2024, as disclosed in the Issuer’s quarterly report on Form 10-Q, as filed with the Securities and Exchange Commission on August 13, 2024.

 

Reporting Person		Amount beneficially owned				Percent of class:				Sole power to vote or to direct the vote:				Shared power to vote or to direct the vote:				Sole power to dispose or to direct the disposition of:				Shared power to dispose or to direct the disposition of:
Kamal Seyed Ghaffarian			46,456,637				43.9	%			67,434				46,389,203				67,434				46,389,203
Ghaffarian Enterprises, LLC			42,606,274				41.8	%			0				42,606,274				0				42,606,274
Intuitive Machines KG Parent, LLC			1,541,809				2.4	%			0				1,541,809				0				1,541,809
GM Enterprises, LLC			2,241,120				3.4	%			0				2,241,120				0				2,241,120

 

The securities reported herein include (i) 42,894,435 Common Units, which may be redeemed for shares of Class A Common Stock on a one-to-one basis, of which 39,111,506 Common Units are held by Ghaffarian Enterprises, LLC, 1,541,809 Common Units are held by Intuitive Machines KG Parent, LLC and 2,241,120 Common Units are held by GM Enterprises, LLC; (ii) 3,494,768 shares of Class A Common Stock held directly by Ghaffarian Enterprises, LLC; and (iii) 67,434 shares of Class A Common Stock held directly by Dr. Ghaffarian.

 

 

CUSIP No.  46125A100

13D

Page 7 of 8 pages

 

The amount of Common Units reported above includes 4,624,529 Earn Out Units which vest dependent upon the satisfaction of the certain milestones as previously described in the Schedule 13D.

 

Dr. Ghaffarian is the sole trustee of a revocable trust, which is the sole member of Ghaffarian Enterprises, LLC and the sole managing member of Intuitive Machines KG Parent, LLC, and GM Enterprises, LLC. As a result, Dr. Ghaffarian may be deemed to share beneficial ownership of the securities reported herein, but disclaims beneficial ownership.

 

(c) During the past 60 days, Ghaffarian Enterprises, LLC sold 755,946 shares of Class A Common Stock in open market transactions on the Nasdaq Stock Market pursuant to the Rule 10b5-1 trading plan adopted on March 22, 2024. Details by date, listing the number of shares sold and the weighted average price per share for transactions that were effected during the past sixty days are provided below. The Reporting Persons undertake to provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price for this transaction.

 

Date		Equity Shares Disposed Of				Weighted Average Price per Share
August 20, 2024			148,290			$	6.0345
August 30, 2024			1,200			$	6.00
September 12, 2024			570,705			$	6.0793
September 13, 2024			35,751			$	6.28

 

In connection with each of the foregoing sales, Ghaffarian Enterprises, LLC redeemed a number of Common Units equal to the number of shares of Class A Common Stock sold. In addition, on September 12, 2024, Ghaffarian Enterprises, LLC transferred 56,838 shares of Class A Common Stock at a price of $5.63 per share in a privately negotiated transaction.

 

(d) None.

 

(e) Not applicable.

 

 

CUSIP No.  46125A100

13D

Page 8 of 8 pages

 

SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: September 16, 2024

 

	Kamal Seyed Ghaffarian
	/s/ Kamal Seyed Ghaffarian
	Ghaffarian Enterprises, LLC
	By:	/s/ Kamal Seyed Ghaffarian
	Name:	Kamal Seyed Ghaffarian
	Title:	Trustee of the Sole Member

 

	Intuitive Machines KG Parent, LLC
	By:	/s/ Kamal Seyed Ghaffarian
	Name:	Kamal Seyed Ghaffarian
	Title:	Trustee of the Sole Managing Member

 

	GM Enterprises, LLC
	By:	/s/ Kamal Seyed Ghaffarian
	Name:	Kamal Seyed Ghaffarian
	Title:	Trustee of the Sole Managing Member

 

 

 

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