Each share of Class A common stock was sold to the public at a price of $0.30 per share. The gross proceeds to the Company from this offering were approximately $5.2 million before deducting underwriting discounts, commissions and other offering expenses.
Sidus Space intends to use the net proceeds of the offering for sales and marketing, operational costs, product development, manufacturing expansion and the remaining proceeds for working capital and other general corporate purposes.
Boustead Securities, LLC and EF Hutton, division of Benchmark Investments, LLC acted as the representatives of the underwriters for the offering.
The registration statement on Form S-1 (File No. 333-269239) relating to the shares being sold in this offering was filed with the U.S. Securities and Exchange Commission (the "SEC") on January 13, 2023 and became effective on January 30, 2023. A final prospectus related to the offering was filed on January 31, 2023 and is available on the SEC's website.
Sidus Space (NASDAQ: SIDU), located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on commercial satellite design, manufacture, launch, and data collection.
Sidus Space has a broad range of Space-As-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management.
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