Overview
- Sidus Space completed a best-efforts public sale of 10,800,000 Class A shares at $1.50 each for gross proceeds of about $16.2 million before fees.
- ThinkEquity served as the sole placement agent, and the deal was executed under an effective Form S-3 shelf with a final prospectus filed with the SEC.
- The company plans to deploy net proceeds toward sales and marketing, operational costs, product development, manufacturing expansion, working capital and general corporate purposes.
- Shares continued to trade higher following the closing, with Benzinga noting a 20.21% gain to $2.31 on Monday and an additional 8.95% rise to $2.79 on Tuesday at the time of reporting.
- Investor interest has been reinforced by Sidus being named an awardee on the Missile Defense Agency’s SHIELD IDIQ supporting the Golden Dome initiative.