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Sidus Space, Inc. (NASDAQ: SIDU) is a pioneering Space and Defense as-a-Service company, providing a comprehensive range of space-based solutions. This service-disabled veteran-owned small business, also recognized as a woman-owned and Hispanic minority-owned small business, offers scalable and low-cost satellite services that cater to a variety of sectors. Sidus Space specializes in the design, manufacturing, and launching of satellites and spacecraft, providing critical data solutions for both government and commercial missions across the solar system.
The company boasts a robust infrastructure of multi-mission satellites equipped with hyperspectral, multi-spectral, and other advanced sensors. These capabilities allow Sidus Space to deliver monitoring services and innovative solutions to industries such as Commercial Space, Aerospace, Defense, and Underwater Marine, as well as various government entities.
Uniquely positioned as more than just a “satellite-as-a-service” provider, Sidus Space partners with its clients from concept development to execution in low Earth orbit and beyond. Their mission-oriented approach ensures tailored solutions, meeting the precise needs of their customers. The company's recent achievements include successful launches, strategic partnerships, and advancements in satellite technology, underscoring their leadership in the space industry.
With a commitment to excellence and innovation, Sidus Space continues to make significant strides in space hardware development and mission support, driving the future of space exploration and data utility for a variety of sectors.
Sidus Space (NASDAQ: SIDU) has appointed Adarsh Parekh as its new Chief Financial Officer, effective January 27, 2025. Parekh brings over two decades of financial expertise, including $3 billion in M&A, capital markets and direct investing experience.
Previously serving as CFO of Terran Orbital , Parekh has held leadership positions at various companies including Alio Inc., Woodspur Farms, RRG Capital Management, OneWest Bank FSB, and Libra Securities. He began his career at Lehman Brothers' Investment Banking Division.
Reporting directly to CEO Carol Craig, Parekh will lead all financial operations, focusing on optimizing efficiency and advancing the company's mission to achieve sustainable growth and profitability. The appointment aligns with Sidus Space's strategy to strengthen its leadership team as it expands its position in the space economy.
Sidus Space (NASDAQ: SIDU) reported significant achievements in 2024, including successful launches of LizzieSat™-1 in March and LizzieSat™-2 in December. The company secured notable contracts, including a $2 million deal with Craig Technologies and a subcontract on a $30M NASA Lunar Terrain Vehicle Services project. Key developments include being selected to build lunar fleet spacecraft for Lonestar Data Holdings and obtaining FCC approval for operating a micro-constellation in Low Earth Orbit.
The company strengthened its position through strategic partnerships, including establishing 'Sidus Arabia' and collaborating with Reflex Aerospace. Sidus secured $37 million in funding and expanded its intellectual property portfolio to 11 granted patents. Looking ahead to 2025, the company plans to launch LizzieSat™-3 in Q1 and continue developing new products, including a VPX On-Board Computer.
Sidus Space (NASDAQ: SIDU) has successfully launched and deployed LizzieSat™-2 into low Earth orbit through SpaceX's Bandwagon-2 rideshare mission from Vandenberg Space Force Base on December 21, 2024. This launch comes less than nine months after LizzieSat™-1, demonstrating the company's rapid expansion capabilities. The satellite features advanced sensors and on-orbit processing capabilities for applications including Space Situational Awareness, maritime monitoring, and disaster response.
The company's modular satellite design is scalable for larger satellites and more complex missions, including lunar operations. Sidus Space has announced plans for LizzieSat™-3, scheduled for launch in Q1 2025, further expanding their constellation and real-time data services capabilities.
Sidus Space (NASDAQ: SIDU) has announced the launch of its LizzieSat™-2 satellite, scheduled for December 21, 2024, from Vandenberg Space Force Base in California as part of SpaceX's Bandwagon-2 rideshare mission. The next-generation satellite, designed and manufactured at Sidus' Space Coast facility in Florida, features advanced capabilities including AIS, methane detection, visual spectrum sensors, and the HEO Holmes Imager. LizzieSat™-2 incorporates the company's proprietary FeatherEdge™ AI processor for on-orbit data processing, supporting applications in Space Situational Awareness, non-Earth Imaging, maritime monitoring, environmental assessments, and disaster response.
Sidus Space (NASDAQ: SIDU) has closed a private placement offering, raising approximately $14.1 million from accredited and institutional investors. The offering consisted of units priced at $2.07 each, comprising 6,819,892 shares of Class A common stock (or pre-funded warrants) and warrants to purchase 3,409,946 common shares.
The common warrants have an exercise price of $2.25 per share and are exercisable for five and a half years. Pre-funded warrants can be exercised at $0.0001 per share. ThinkEquity served as the exclusive placement agent. The company plans to use the proceeds for working capital and general corporate purposes.
Sidus Space (NASDAQ: SIDU) has announced a $14 million private placement through securities purchase agreements with accredited and institutional investors. The company will issue 6,799,892 shares of Class A common stock (or pre-funded warrants) at $2.07 per unit, along with warrants to purchase 3,399,946 additional shares at $2.25 per share. The warrants will be exercisable for five and a half years.
The private placement, expected to close on December 18, 2024, is being managed by ThinkEquity as the exclusive placement agent. Sidus plans to use the proceeds for working capital and general corporate purposes. The company will file a registration statement with the SEC for the resale of these securities.
Sidus Space (NASDAQ: SIDU) has completed launch processing of LizzieSat™-2 at Vandenberg Space Force Base, ready for SpaceX's Bandwagon-2 rideshare mission targeted for December 2024. The satellite features advanced capabilities including AIS, multi-spectral methane detection, high-resolution visual spectrum sensors, and the HEO Holmes Imager for non-Earth imaging. Equipped with Sidus' proprietary FeatherEdge™ AI processor, LizzieSat™-2 will enable on-orbit data processing for applications in Space Situational Awareness, maritime monitoring, environmental assessments, and disaster response.
Sidus Space (NASDAQ: SIDU) has announced a strategic partnership with Reflex Aerospace, a European satellite manufacturing startup. The collaboration, signed at Space Tech Expo Europe, combines Sidus' satellite manufacturing and mission operations expertise with Reflex's rapid, custom satellite design capabilities. The partnership aims to deliver flexible, cost-effective satellite solutions for global markets, with both companies contributing to satellite production starting in 2025.
Sidus Space (NASDAQ: SIDU) reported Q3 2024 financial results showing significant growth with revenues of $1.9 million, a 90% increase year-over-year. The company achieved a gross profit of $38,000, marking a 140% increase, while reducing EBITDA loss by 33% to $2.5 million. SG&A expenses decreased by 15% to $3.2 million. Notable achievements include selection as exclusive manufacturer for Lonestar's lunar data storage constellation, FCC approval for LEO micro constellation, and successful completion of ASTRA mission with NASA. The company raised $7 million through a public offering and is preparing for LizzieSat™-2 launch in December 2024.
Sidus Space (NASDAQ: SIDU) has completed its previously announced public offering, raising $7.0 million in gross proceeds. The offering consisted of 5,600,000 shares of Class A common stock (or pre-funded warrants) sold at $1.25 per share. ThinkEquity served as the sole book-running manager for the offering. The company plans to use the net proceeds for working capital and general corporate purposes. The offering was made through a registration statement on Form S-1 that became effective on November 12, 2024.
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