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Sidus Space, Inc. Announces Closing of $5.2 Million Public Offering and Full Exercise of Underwriters’ Over-Allotment Option
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space, Inc. (Nasdaq: SIDU), (“Sidus Space” or the “Company”), a Space-as-a-Service satellite company, today
About this update from Sidus Space, Inc.
[{"type":"text","content":" CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--\nSidus Space, Inc. (Nasdaq: SIDU), (“Sidus Space” or the “Company”), a Space-as-a-Service satellite company, today announced the closing of its underwritten public offering of 17,250,000 shares of its Class A common stock (or pre-funded warrants (the “Pre-Funded Warrants”) in lieu thereof, which included the full exercise of the underwriters’ over-allotment option. 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.\n\nSidus 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.\n\nBoustead Securities, LLC and EF Hutton, division of Benchmark Investments, LLC acted as the representatives of the underwriters for the offering.\n\nThe 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 at https://www.sec.gov/. The offering was being made only by means of a prospectus. Copies of the final prospectus may be obtained from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at [email protected].\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n\nAbout Sidus Space\n\nSidus 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...