Sidus Space Announces Pricing of Public Offering
January 29 2024 - 10:32PM
Business Wire
Sidus Space, Inc. (Nasdaq: SIDU) ("Sidus" or the "Company"), a
multi-faceted Space and Data-as-a-Service company, today announced
the pricing of an underwritten public offering of 1,251,700 shares
of its Class A common stock (or pre-funded warrants (“Pre-funded
Warrants”) in lieu thereof). Each share of Class A common stock (or
Pre-funded Warrant) is being sold at a public offering price of
$4.50 per share (inclusive of the Pre-funded Warrant exercise
price) for gross proceeds of $5,632,650, before deducting
underwriting discounts and offering expenses. All of the shares of
common stock and Pre-funded Warrants are being offered by the
Company.
The Company intends to use the net proceeds from the offering
for working capital and general corporate purposes.
The offering is expected to close on February 1, 2024, subject
to customary closing conditions.
ThinkEquity is acting as sole book-running manager for the
offering.
The securities will be offered and sold pursuant to a shelf
registration statement on Form S-3 (File No. 333-273430), including
a base prospectus, filed with the U.S. Securities and Exchange
Commission (the “SEC”) on July 26, 2023 and declared effective on
August 14, 2023. The offering will be made only by means of a
written prospectus. A preliminary prospectus supplement and
accompanying prospectus describing the terms of the offering has
been filed with the SEC on its website at www.sec.gov. A final
prospectus supplement and accompanying prospectus related to the
offering will be filed with the SEC and made available on the SEC’s
website. Copies of the final prospectus supplement and the
accompanying prospectus relating to the offering may also be
obtained, when available, from the offices of ThinkEquity, 17 State
Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Sidus Space
Sidus Space (NASDAQ: SIDU) is a Space and Data-as-a-Service
satellite company focused on mission-critical hardware
manufacturing; multi-disciplinary engineering services; satellite
design, production, launch planning, mission operations; and
in-orbit support. The Company is in Cape Canaveral, Florida, where
it operates from a 35,000-square-foot manufacturing, assembly,
integration, and testing facility focused on vertically integrated
Space-as-a-Service solutions including end-to-end satellite
support.
Sidus Space has a mission of Bringing Space Down to Earth™ and a
vision of enabling space flight heritage status for new
technologies while delivering data and predictive analytics to
domestic and global customers. Any corporation, industry, or
vertical can start their journey off-planet with Sidus Space’s
rapidly scalable, low-cost satellite services, space-based
solutions, and testing alternatives. More than just a
"Satellite-as-a-Service" provider, Sidus Space is a trusted Mission
Partner–from concept to Low Earth Orbit and beyond. Sidus Space is
ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
‘forward-looking statements’ within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the expected trading
commencement and closing dates. The words ‘anticipate,’ ‘believe,’
‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’
‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’
‘would’ and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties related to market conditions and other factors
described more fully in the section entitled ‘Risk Factors’ in
Sidus Space’s preliminary prospectus supplement and Annual Report
on Form 10-K for the year ended December 31, 2022, and other
periodic reports filed with the Securities and Exchange Commission.
Any forward-looking statements contained in this press release
speak only as of the date hereof, and Sidus Space, Inc.
specifically disclaims any obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240129124412/en/
Investor Relations Valter Pinto KCSA Strategic
Communications sidus@kcsa.com (212) 896-1254
Media Pam Davis Sidus Space Mediateam@sidusspace.com
Sidus Space (NASDAQ:SIDU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sidus Space (NASDAQ:SIDU)
Historical Stock Chart
From Apr 2023 to Apr 2024