Sidus Space Inc (NASDAQ:SIDU), the space-based data collection company, plans to raise $5.6 million in a public share offering.
Based in Cape Canaveral, Florida, the company is issuing the shares at a price of $4.50 apiece, with a scheduled close on Thursday.
The net proceeds will be used for working capital and general corporate purposes, the company said, as it prepares for its inaugural satellite launch.
Last week, its first LizzieSat satellite arrived at Vandenberg Space Force Base in California ahead of a SpaceX Transporter-10 launch scheduled for March or later.