(MENAFN- Investor Brand Network) sidus space (nasdaq: sidu) , a“Space-as-a-Service” satellite company, recently announced the closing of its underwritten public offering of 17,250,000 shares of its Class A common stock (or 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. Sidus Space secured approximately $5.2 million in gross proceeds from the offering and intends to use the net proceeds for sales and marketing, operational costs, product development, manufacturing expansion and 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.
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About Sidus Space
Sidus Space, located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration and testing facility focused on commercial satellite design, manufacture, launch and data collection. The company's rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space-related customers and programs. Sidus Space has a broad range of“Space-as-a-Service” offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management. Sidus Space has a mission of Bringing Space Down to Earth(TM) and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry or vertical can start their journey off-planet with Sidus Space's rapidly scalable, low-cost satellite services, space-based solutions and testing alternatives. More than just a“Satellite-as-a-Service” provider, Sidus Space is a trusted mission partner–from concept to low Earth orbit and beyond. Sidus is ISO 9001:2015, AS9100 Rev. D certified and ITAR registered. For more information about the company, visit .
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