Sidus Space closes $9.8 million public offering of common stock

CAPE CANAVERAL, Fla. - Sidus Space, Inc. (NASDAQ:SIDU) has closed its previously announced public offering of 9.8 million shares of Class A common stock, the space and defense technology company announced Tuesday. The micro-cap company, currently valued at $24.8 million, has seen its stock decline over 80% year-to-date according to InvestingPro data.

The shares were sold at $1.00 each in a best-efforts offering, generating approximately $9.8 million in gross proceeds before deducting placement agent fees and offering expenses. ThinkEquity served as the sole placement agent for the transaction.

Sidus Space intends to use the net proceeds for working capital and general corporate purposes, according to the company’s statement.

The securities were offered pursuant to a shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission in July 2023 and declared effective the following month.

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. Financial metrics from InvestingPro reveal challenging operational metrics, including negative gross margins of -80.29%. Get access to 15+ additional ProTips and comprehensive analysis in the Pro Research Report.

The information in this article is based on a press release statement from Sidus Space.

In other recent news, Sidus Space Inc. reported a 36% increase in revenue for the second quarter of 2025, totaling $1.3 million. Despite the revenue growth, the company faced a net loss of $5.6 million, compared to a $4.1 million loss in the same quarter the previous year. Sidus Space also announced a public offering of 9.8 million shares of Class A common stock at $1.00 per share, aiming to raise approximately $9.8 million in gross proceeds. The proceeds from this offering are intended for working capital and general corporate purposes. Additionally, the company appointed Lawrence Hollister as Chief Business Officer to enhance sales channels and expand its market presence. This move follows Hollister’s previous role as Head of Growth - Edge Technology at Anduril Industries. The public offering is expected to close on September 16, 2025, pending customary conditions. These developments are part of Sidus Space’s strategic efforts to accelerate growth and scale its operations.

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