Sidus Space Inc (NASDAQ:SIDU) announced that it will raise approximately $7.9 million through an underwritten public offering.
The company said it will offer 1,321,000 shares of its Class A common stock at $6 per share.
Proceeds from the offering will be used by Sidus for working capital and general corporate purposes.
ThinkEquity is acting as the sole book-running manager for the offering, which is expected to close on March 5, 2024, subject to customary closing conditions.
Sidus Space is a multi-faceted Space and Data-as-a-Service satellite company focused on mission-critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support.