Sidus Space announces plans for public offering of common stock

CAPE CANAVERAL, Fla. - Sidus Space, Inc. (NASDAQ:SIDU), a space technology company with a market capitalization of $37.34 million, announced Thursday its intention to offer shares of Class A common stock and pre-funded warrants in a best-efforts public offering, according to a company press release.

The space and defense technology company plans to use proceeds from the offering for sales and marketing initiatives, operational costs, product development, manufacturing expansion, working capital, and general corporate purposes. According to InvestingPro data, this funding comes at a crucial time as the company has been quickly burning through cash, with an EBITDA of -$15.38 million in the last twelve months.

ThinkEquity will serve as the sole placement agent for the offering, which will be conducted under a shelf registration statement previously filed with the Securities and Exchange Commission (SEC) in July 2023 and declared effective in August 2023.

The securities will be offered through a written prospectus, with a preliminary prospectus supplement and accompanying prospectus filed with the SEC.

Sidus Space describes itself as a provider of satellite manufacturing, technology integration, and space-based data solutions. The company operates a 35,000-square-foot manufacturing facility on Florida’s Space Coast for space system assembly, integration, and testing. While the company generated revenue of $3.86 million in the last twelve months, InvestingPro analysis reveals 13 additional key insights about the company’s performance and prospects, available in the comprehensive Pro Research Report.

The announcement did not specify the number of shares to be offered or the pricing details for the proposed offering. The company noted that all shares in the offering will be sold by Sidus Space rather than existing shareholders.

The offering remains subject to market conditions and the completion of the necessary documentation and regulatory requirements. Investors tracking this development should note that the company’s next earnings report is scheduled for August 14, 2025, which could provide additional clarity on its financial position and use of the new capital.

In other recent news, Sidus Space has made several noteworthy announcements. The company unveiled its new LunarLizzie satellite platform, which is designed for lunar and cislunar missions and supports payloads up to 800kg. This spacecraft incorporates advanced technologies such as LiDAR, hyperspectral imaging, and AI-powered autonomous navigation. In addition to this development, Sidus Space announced a strategic collaboration with VORAGO Technologies to test radiation-hardened microcontrollers, which are crucial for extreme space environments. The company has also selected Atomic-6 to supply solar arrays for its LizzieSat satellites, supporting Lonestar Data Holdings’ lunar data center project. Furthermore, Sidus Space appointed Tiffany Norwood, a tech entrepreneur with extensive experience, to its Board of Directors. These recent developments highlight Sidus Space’s ongoing efforts to advance its capabilities in the space and defense sectors.

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