Sidus Space completes $25 million public offering at $1.30 per share

Sidus Space Inc. (NASDAQ: SIDU) completed its public offering of 19,230,800 shares of Class A common stock at $1.30 per share, generating gross proceeds of approximately $25 million before fees and expenses, according to a company statement.

The space and defense technology company said it plans to use the net proceeds for sales and marketing, operational costs, product development, manufacturing expansion, and working capital. ThinkEquity served as the sole placement agent for the offering.

The securities were sold under a shelf registration statement filed with the Securities and Exchange Commission on July 26, 2023, which became effective on August 14, 2023. The offering was conducted on a best-efforts basis.

Cape Canaveral, Florida-based Sidus Space operates a 35,000-square-foot manufacturing facility and provides satellite manufacturing, space-based data solutions, and defense hardware manufacturing services to government and commercial clients.

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