Sidus Space (NASDAQ: SIDU), a Space-as-a-Service satellite company, announced the pricing of an underwritten public offering. The offering is comprised of 30,303,030 shares of its Class A common stock, or prefunded warrants in lieu thereof, and 30,303,030 warrants. According to the announcement, each share will be sold at a combined price of $0.33, with each warrant allowing the purchase of one share of Class A common stock. Anticipated gross proceeds from the offering will be an estimated $10 million before standard deductions. The company also noted that it has granted the underwriters a 45-day option to purchase additional shares — up to 4,545,454 shares and/or 4,545,454 additional warrants to cover any potential overallotments. According to the announcement, Sidus Space anticipates using the funds from the offering for sales and marketing, operational costs, product development and manufacturing expansion with any remaining proceeds dedicated to working capital and other general corporate purposes. Representatives of the underwriters for the offering are Boustead Securities LLC and EF Hutton, division of Benchmark Investments, LLC.

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About Sidus Space

Sidus Space, located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration and testing facility focused on commercial satellite design, manufacture, launch and data collection. The company’s rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space-related customers and programs. Sidus Space has a broad range of Space-as-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management. Sidus Space has a mission of Bringing Space Down to Earth(TM) and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions and testing alternatives. More than just a Satellite-as-a-Service provider, Sidus Space is a trusted mission partner, from concept to Low Earth Orbit and beyond. For more information, please visit www.SidusSpace.com.

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