Sidus Space, an innovative and agile leader in the space mission industry, has announced the successful closing of its brokered private placement offering. This offering, involving accredited and institutional investors, consists of units comprising shares of Class A common stock (each a “Common Share”) or pre-funded warrants (each a “Pre-funded Warrant”) in lieu of the Common Shares, coupled with warrants (each a “Common Warrant”) to purchase one-half the number of Common Shares or Pre-funded Warrants of the company. The offering was priced at $2.07 per unit, generating aggregate gross proceeds of approximately $14.1 million before deducting offering fees and expenses.
The company issued a total of 6,819,892 shares of Class A common stock, or the equivalent in Pre-funded Warrants. In addition, Common Warrants were issued, allowing the purchase of 3,409,946 shares of Class A common stock. The Pre-funded Warrants entitle holders to acquire one share of Class A common stock at an exercise price of $0.0001 per share. The Common Warrants, which are immediately exercisable, allow the purchase of one share of Class A common stock at an exercise price of $2.25 per share for a period of five and a half years following the closing of the offering.
The funds raised through this private placement will be directed toward the company’s working capital needs and general corporate purposes. Sidus Space intends to leverage the capital infusion to continue advancing its capabilities in space exploration and to support its ongoing operations.
ThinkEquity acted as the exclusive placement agent for this offering, ensuring the successful facilitation of the transaction.
As part of the offering terms, the securities issued by Sidus Space in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws. As a result, these securities cannot be offered or sold in the United States unless they are registered with the Securities and Exchange Commission (SEC) or qualify for an exemption from such registration requirements. To comply with these requirements, the company has agreed to file a registration statement with the SEC that will cover the resale of the shares of Class A common stock, as well as the shares underlying the Pre-funded Warrants and Common Warrants issued in the offering.
The resale of Sidus Space’s securities under the registration statement will be conducted only through a prospectus, and these securities cannot be sold or offered in any state or jurisdiction where such an offer or sale would be unlawful. This offering is strictly limited to accredited investors, and no offer to buy or sell the securities is being made in any state or jurisdiction where such offers would be unlawful prior to registration or qualification under applicable securities laws.
This private placement reflects Sidus Space’s commitment to enhancing its financial position and expanding its capacity to support missions in the rapidly growing space sector. The company is strategically positioned to take advantage of emerging opportunities in the industry and drive its mission of enabling cutting-edge space technology.
