Sidus Space Files Registration Statement for Sale of Shares, Pre-Funded Warrants; Shares Plunge

MT Newswires Live10-15

Sidus Space (SIDU) filed a registration statement with the US Securities and Exchange Commission Tuesday for the sale of about 3.7 million shares and pre-funded warrants to purchase roughly 3.7 million shares.

The company set an assumed offering price of $2.67 per share and the final offering price may vary, according to the filing.

Sidus said that each pre-funded warrant will be priced equal to each common share in the offering minus $0.001 and they will be immediately exercisable.

Additionally, for each pre-funded warrant the company sells, it will decrease one common share in the offering on a one-to-one basis.

The company said it granted underwriters a 45-day option to buy up to an additional 561,797 shares or pre-funded warrants.

Sidus expects to use the proceeds for sales and marketing, operational costs, product development, manufacturing expansion, working capital, and other general corporate purposes.

Shares of the company fell nearly 13% in recent trading.

Price: 2.29, Change: -0.34, Percent Change: -12.93

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