Sidus Space completes $9.8 million stock offering

Sidus Space Inc. (NASDAQ: SIDU) completed a public offering of 9.8 million shares of Class A common stock at $1.00 per share, generating gross proceeds of approximately $9.8 million before deducting placement agent fees and offering expenses.

The space and defense technology company plans to use the net proceeds for working capital and general corporate purposes, according to a company statement.

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, and declared effective on August 14, 2023.

Sidus Space operates from Florida's Space Coast and provides satellite manufacturing, AI-driven space-based data solutions, and space hardware manufacturing services to government, defense, intelligence, and commercial clients.

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