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  • Boustead Securities

Sidus Space Announces Closing of $5.2 Million Public Offering



Cape Canaveral, FL & Irvine, CA, February 6, 2023 – Boustead Securities, LLC (Boustead) client Sidus Space, Inc. (Nasdaq: SIDU), ("Sidus Space" or the "Company"), a Space-as-a-Service satellite company, today announced the closing of its underwritten public offering of 17,250,000 shares of its Class A common stock (or pre-funded warrants (the "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 per share. The gross proceeds to the Company from this offering were approximately $5.2 million before deducting underwriting discounts, commissions and other offering expenses.


Sidus Space intends to use the net proceeds of the offering for sales and marketing, operational costs, product development, manufacturing expansion and the remaining proceeds 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.


The registration statement on Form S-1 (File No. 333-269239) relating to the shares being sold in this offering was filed with the U.S. Securities and Exchange Commission (the "SEC") on January 13, 2023 and became effective on January 30, 2023. A final prospectus related to the offering was filed on January 31, 2023 and is available on the SEC’s website at https://www.sec.gov/. The offering was being made only by means of a prospectus. Copies of the final prospectus may be obtained from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhuttongroup.com.

 

About Sidus Space, Inc.

Sidus Space makes it easy for any corporation, industry or vertical to start their journey off-planet with our rapidly scalable, low-cost satellite services, space-based solutions and testing alternatives. More than just a “Satellite-as-a-Service” provider, we become your trusted Mission Partner from concept to Low Earth Orbit and beyond. For more information, please visit www.sidusspace.com


About Boustead Securities, LLC

Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com

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