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Sidus Space, Inc. Announces $5.6 Million Public Offering Pricing
Sidus Space's mission, "Bringing Space Down to Earth," encapsulates the company's goal of making space technologies more accessible and applicable across various industries. Their vision is to achieve space flight heritage status for new technologies while offering valuable data and predictive analytics to both domestic and global customers.
Sidus Space, Inc. Announces $5.6 Million Public Offering Pricing
by Clarence Oxford
Los Angeles CA (SPX) Jan 30, 2024

Sidus Space, Inc. (Nasdaq: SIDU), a Space and Data-as-a-Service developer, has announced pricing for its underwritten public offering. The company is offering 1,251,700 shares of its Class A common stock. This offering also includes the option of pre-funded warrants in lieu of the common stock. Each unit, whether it is a share of common stock or a pre-funded warrant, has been priced at $4.50. This pricing strategy positions the company to raise gross proceeds of approximately $5,632,650, before accounting for underwriting discounts and offering expenses.

All the shares and pre-funded warrants in this offering are presented by Sidus Space itself, underlining the company's direct involvement and investment in this financial venture. The public offering is a strategic step for Sidus Space, aiming to bolster its financial foundation for ongoing and future projects. The company has expressed its intention to allocate the net proceeds from this offering towards working capital and general corporate purposes. This move is indicative of Sidus Space's ongoing commitment to solidifying its operational capabilities and expanding its footprint in the space technology sector.

The completion of the offering is anticipated by February 1, 2024, contingent upon customary closing conditions. This timeline highlights the company's swift approach towards capitalizing on market opportunities and strengthening its financial position in a competitive industry.

ThinkEquity is playing a pivotal role in this financial maneuver as the sole book-running manager for the offering. Their involvement is crucial in managing the intricacies of such a significant financial undertaking, ensuring the offering aligns with market expectations and regulatory requirements.

For potential investors and market observers, the offering is being conducted in accordance with a shelf registration statement on Form S-3 (File No. 333-273430), which includes a base prospectus filed with the U.S. Securities and Exchange Commission (SEC) on July 26, 2023, and declared effective on August 14, 2023. The detailed terms of the offering have been outlined in a preliminary prospectus supplement and accompanying prospectus, available on the SEC's website. The final prospectus supplement, along with the accompanying prospectus, will be made available on the same platform. These documents provide comprehensive information about the offering and are essential for informed investment decisions.

Sidus Space's business operations are based in Cape Canaveral, Florida, where it runs a 35,000-square-foot facility focused on manufacturing, assembly, integration, and testing. This facility is a cornerstone of their vertically integrated Space-as-a-Service solutions, which encompass end-to-end satellite support.

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Sydney, Australia (SPX) Jan 30, 2024
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