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Sidus Space Announces 180-Day Extension to Regain Compliance with NASDAQ Minimum Bid Price Requirement
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a multi-faceted Space and Data-as-a-Service company, today
About this update from Sidus Space, Inc.
[{"type":"text","content":" CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--\nSidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a multi-faceted Space and Data-as-a-Service company, today announces that it has been granted an additional 180 calendar days, or until March 11, 2024, (the \"Second Compliance Period\") to regain compliance with The Nasdaq Stock Market LLC (\"NASDAQ\").\n\n\nOn September 12, 2023, Sidus received a notification letter (the \"Notification Letter\") from the Listings Qualifications Department of NASDAQ. The Notification Letter states that, while Sidus has not regained compliance with the Minimum Bid Price Requirement, NASDAQ has determined that the Company is eligible for a Second Compliance Period.\n\n\nIf at any time during the Second Compliance Period, the closing bid price of Sidus’s Class A common stock is at least $1 per share for a minimum of 10 consecutive business days, NASDAQ will provide Sidus with written confirmation of compliance. If compliance with the Minimum Bid Price Requirement cannot be demonstrated by March 11, 2024, NASDAQ will provide written notification that the Company's Class A common stock will be delisted. At that time, the Company may appeal NASDAQ's determination to a Hearings Panel.\n\n\nThe Company intends to actively monitor the closing bid price of its Class A common stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price under the Nasdaq Listing Rules.\n\n\nAbout Sidus Space\n\n\nSidus Space (NASDAQ: SIDU) is a Space and Data-as-a-Service satellite company focused on mission-critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support. The Company is located in Cape Canaveral, Florida, where it operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on vertically integrated Space-as-a-Service solutions including end-to-end satellite support.\n\n\nSidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services,...