Sidus Space Sets Public Offering Price
by Clarence Oxford
Los Angeles CA (SPX) Mar 04, 2024

Sidus Space, Inc. (Nasdaq: SIDU), a Space and Data-as-a-Service company, has announced the pricing of its underwritten public offering of 1,321,000 Class A common stock shares. Each share is priced at $6.00, aiming for gross proceeds of approximately $7.9 million, before underwriting discounts and offering expenses. The company is the sole offeror of these shares.

The proceeds are earmarked for working capital and general corporate purposes, supporting the company's operations and strategic initiatives. The offering's closure is anticipated on March 5, 2024, dependent on standard closing conditions.

ThinkEquity is the sole book-running manager, a critical role in the offering's execution and investor engagement. Sidus Space has granted ThinkEquity a 45-day option to buy up to an additional 15% of the Class A common stock and/or Pre-funded Warrants to manage over-allotments, reflecting a prepared approach to the offering's dynamics. Market conditions will influence the offering's completion, with uncertainties around the timing and final details.

The offering includes Class A common stock and potentially pre-funded warrants, with all securities sold by Sidus. It aims to strengthen the company's working capital and fund corporate activities, enhancing operational capabilities and project support.

Securities will be offered following a shelf registration statement on Form S-3, including a base prospectus, filed with the U.S. Securities and Exchange Commission (SEC) on July 26, 2023, and effective on August 14, 2023. This ensures compliance with federal securities laws.

Interested investors are directed to the preliminary prospectus supplement and accompanying prospectus for offering details, available on the SEC website or directly from ThinkEquity's New York offices, facilitating access to offering information.

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