Sidus Space announces public offering of Class A common stock

Sidus Space Inc. (NASDAQ: SIDU) announced it intends to offer shares of its Class A common stock and pre-funded warrants in a best-efforts public offering, according to a company statement.

ThinkEquity will serve as the sole placement agent for the offering. All securities will be sold by the company.

The space and defense technology company plans to use net proceeds for sales and marketing, operational costs, product development, manufacturing expansion, working capital and general corporate purposes.

The securities will be offered under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on July 26, 2023, and declared effective on August 14, 2023. A preliminary prospectus supplement describing the offering terms has been or will be filed with the SEC.

Based in Cape Canaveral, Florida, Sidus Space provides satellite manufacturing, AI-driven space-based data solutions, and mission planning services to government, defense, intelligence and commercial clients. The company operates a 35,000-square-foot manufacturing facility on Florida's Space Coast.

The company has manufactured and operates its own satellite and sensor system called LizzieSat.

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