CAPE CANAVERAL, Fla. - Sidus Space, Inc. (NASDAQ: SIDU), a company specializing in Space and Data-as-a-Service, has revealed plans for an underwritten public offering of its Class A common stock and potentially pre-funded warrants. The entirety of the shares and warrants will be sold by Sidus itself, as stated in a recent announcement.
The sole book-running manager for the offering is ThinkEquity, a financial services firm. In addition to the planned sale, Sidus Space anticipates providing ThinkEquity with an option to purchase up to an additional 15% of the shares or warrants to address any over-allotments that might occur. This option is valid for 45 days post-offering.
Completion of the offering is contingent upon market conditions, and there is no certainty regarding the completion timeline or the final terms and size of the offering.
Sidus intends to allocate the net proceeds from this offering towards working capital and general corporate purposes.
The shares and warrants are being offered pursuant to a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on July 26, 2023, and declared effective on August 14, 2023. The offering is strictly by prospectus, with a preliminary prospectus supplement and accompanying prospectus available on the SEC's website and from ThinkEquity's offices in New York.
Sidus Space operates out of Cape Canaveral, Florida, and offers a range of services including hardware manufacturing, engineering, satellite design, production, launch planning, mission operations, and in-orbit support. The company's offerings span across four business units and aim to provide comprehensive satellite solutions from concept to Low Earth Orbit.
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