Sidus Space Launches $14 Million Private Placement; Shares Jump

MT Newswires Live12-17

Sidus Space (SIDU) said Tuesday it has signed securities purchase agreements with certain investors to issue and sell units consisting of shares and warrants to buy one-half of the number of shares at $2.07 per unit for gross proceeds of about $14 million.

The company said it will issue a combination of about 6.8 million class A shares, or pre-funded warrants, and common warrants to buy about 3.4 million class A shares.

The private placement is slated to close on Wednesday and proceeds will be used for working capital and general corporate purposes, Sidus Space said.

The company's shares jumped 24% in recent trading.

Price: 5.68, Change: +1.10, Percent Change: +24.04

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