Sidus Space has closed its previously announced public offering of 1,251,700 shares of its Class A common stock (or pre-funded warrants (“Pre-funded Warrants”) in lieu thereof) at a public offering price of $4.50 per share (inclusive of the Pre-funded Warrant exercise price) per share, for gross proceeds of $5,632,650, before deducting underwriting discounts and offering expenses.
"The opportunity to contribute to NGA's Research and Development Contract aligns seamlessly with Sidus Space's commitment to pushing the boundaries of space technology and data services."
Carol Craig, Sidus Space
The Company intends to use the proceeds from the offering for working capital and general corporate purposes.
The offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). The final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004 Attention: Prospectus Department.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.
ThinkEquity acted as sole book-running manager for the offering.
In a related development, the company has been named as a member of the Solis Applied Science, LLC Team which was selected by the National Geospatial-Intelligence Agency's (NGA) to provide research and development services to NGA’s Research and Development directorate.
The NGA awarded the Research and Development Contract (RDC) indefinite-delivery, indefinite-quantity (IDIQ) contract on January 25, 2024, to Solis Applied Science, LLC, one of four IDIQ awardees. Task orders will be completed among the IDIQ awardees, with the first task order scheduled for February 2024.
"The opportunity to contribute to NGA's Research and Development Contract aligns seamlessly with Sidus Space's commitment to pushing the boundaries of space technology and data services," said Carol Craig, CEO of Sidus Space. "As part of the Solis team, we are excited to leverage our expertise in driving innovation, testing prototypes, and advancing capabilities that will shape the future of geospatial intelligence."
Sidus Space expects to actively contribute to RDC activities, focusing on the development, maturation, testing, and integration of R&D concepts into functional prototypes as a member of the Solis team. The scope of RDC projects encompasses groundbreaking research in foundational geospatial-intelligence, advanced phenomenologies, and cutting-edge analytic technologies.