Sidus Space Inc., a Space-as-a-Service satellite company, announced today the completion of its underwritten public offering of 34,090,904 shares of Class A common stock, or pre-funded warrants in lieu thereof, and 34,090,904 warrants, which included a partial exercise of the underwriters’ over-allotment option.
Each share of Class A common stock and accompanying warrant was sold to the general public for $0.33. Each warrant entitles the holder to acquire one share of Class A common stock at a price of $0.33 per share.
Before deducting underwriting discounts, commissions, and other offering expenses, the gross proceeds to the Company from this offering were approximately $11.2 million.
Sidus Space expects to use the net proceeds of the offering for sales and marketing, operational costs, product development, manufacturing expansion, and working capital, as well as other general corporate objectives.
The underwriters’ representatives for the offering were Boustead Securities, LLC and EF Hutton, a part of Benchmark Investments, LLC.
Sidus Space is headquartered in Cape Canaveral, Florida, and operates a 35,000-square-foot manufacturing, assembly, integration, and testing facility specializing in commercial satellite design, manufacture, launch, and data collecting.
The extensive history of the company includes the design and manufacture of numerous flight and ground component parts and systems for a variety of space-related customers and programs. Sidus Space provides a wide range of space-rated hardware manufacture, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services, and satellite constellation management.
Sidus Space’s objective is to “Bring Space Down to EarthTM,” and its ambition is to provide space flight heritage status for emerging technologies while providing data and predictive analytics to local and global customers.
Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives enable any organization, industry, or vertical to begin their journey off-planet.
Sidus Space is more than a “Satellite-as-a-Service” provider; it is a trusted Mission Partner from idea through Low Earth Orbit and beyond. Sidus is ISO 9001:2015 certified, AS9100 Rev. D registered, and ITAR registered.