Sidus Space, Inc. (Nasdaq: SIDU), (“Sidus Space” or the “Company”) has closed its underwritten public offering of 17,250,000 shares of the company’s Class A common stock (or pre-funded warrants (the “Pre-Funded Warrants”) in lieu thereof, which included the full exercise of the underwriters’ over-allotment option.
Each share of Class A common stock was sold to the public at a price of $0.30 per share. The gross proceeds to the Company from this offering were approximately $5.2 million, before deducting underwriting discounts, commissions and other offering expenses.
Sidus Space intends to use the net proceeds of the offering for sales and marketing, operational costs, product development, manufacturing expansion and the remaining proceeds for working capital and other general corporate purposes.
Boustead Securities, LLC, and EF Hutton, division of Benchmark Investments, LLC, acted as the representatives of the underwriters for the offering.
The registration statement on Form S-1 (File No. 333-269239) relating to the shares being sold in this offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 13, 2023 and became effective on January 30, 2023. A final prospectus related to the offering was filed on January 31, 2023 and is available on the SEC’s website at https://www.sec.gov/.
The offering was being made only by means of a prospectus. Copies of the final prospectus may be obtained from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at [email protected].