Public Offering Pricing Announced by Sidus Space
Places 5,600,000 Shares of its Class A Common Stock Up for Sale
The pricing of an underwritten public offering of 5,600,000 shares of its Class A common stock (or pre-funded warrants (“Pre-funded Warrants” in lieu thereof)) has been announced by Sidus Space.
Each share of Class A common stock (or Pre-funded Warrant) is being sold at a public offering price of $1.25 per share (inclusive of the Pre-funded Warrant exercise price) for gross proceeds of $7.0 million, before deducting underwriting discounts and offering expenses. All of the shares of common stock and Pre-funded Warrants are being offered by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 840,000 shares of Class A common stock and/or Pre-funded Warrants to cover over-allotments at the public offering price, less the underwriting discount.
The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.
The offering is expected to close on November 14, 2024, subject to customary closing conditions.
ThinkEquity is acting as sole book-running manager for the offering.