Sidus Space Announces Proposed Public Offering
Company Appoints Lawrence Hollister as Chief Business Officer
Space and defense technology company Sidus Space Inc. has announced plans to sell shares of Class A common stock in a public offering, and has appointed Lawrence Hollister as its new chief business officer to accelerate growth across commercial and government markets.
"Lawrence Hollister is an outstanding addition to Sidus Space as we focus on our next phase of growth."
Carol Craig, Sidus Space
The Cape Canaveral, Florida-based company said it will conduct a best-efforts public offering through ThinkEquity as sole placement agent. Sidus Space plans to use proceeds from the stock sale for working capital and general corporate purposes. The company may also offer pre-funded warrants in lieu of common stock shares.
The offering will be conducted under a shelf registration statement filed with the Securities and Exchange Commission in July 2023 and declared effective in August 2023. A preliminary prospectus supplement has been or will be filed with the SEC.
Hollister, who joins Sidus Space effective Sept. 15, brings experience in driving revenue growth and scaling operations across defense, aerospace, intelligence, cyber and federal civil sectors. He previously served as head of growth for edge technology at Anduril Industries after working as chief growth officer at KLAS Government, where he led a growth strategy that resulted in the company's acquisition by Anduril within two years.
Reporting directly to CEO Carol Craig, Hollister will lead business growth efforts with a mandate to expand sales channels, accelerate revenue and scale the company's presence across government and commercial markets.
"Lawrence Hollister is an outstanding addition to Sidus Space as we focus on our next phase of growth. His extensive business leadership expertise and proven ability to deliver explosive growth will be instrumental as we continue to execute our strategic goals," said Carol Craig, Sidus Space CEO. "His ability to deliver measurable sales performance, revenue expansion, and sustained business growth will directly support our mission of creating long-term value for our shareholders and customers."
These announcements come as Sidus Space positions itself for growth in what it calls the rapidly evolving space economy. The company specializes in satellite manufacturing, technology integration, AI-driven data solutions, mission planning and management, and development of space and defense hardware.
Sidus Space operates from a 35,000-square-foot manufacturing, assembly, integration and testing facility on Florida's Space Coast. The company has demonstrated space heritage through manufacturing and operating its own satellite and sensor system, LizzieSat.