Sidus Space Inc Stock Price, News & Analysis

Sidus Space (NASDAQ: SIDU) has successfully closed its underwritten public offering of 34,090,904 shares of Class A common stock, along with 34,090,904 warrants, bringing in gross proceeds of approximately $11.2 million. Shares and warrants sold at a combined price of $0.33 each, with warrants allowing the purchase of additional shares at the same price. The proceeds are earmarked for various strategic initiatives, including sales and marketing, operational expenses, and manufacturing expansion. The offering included the partial exercise of the underwriters’ over-allotment option. The registration statement was filed with the SEC on March 27, 2023, and became effective on April 20, 2023.

Sidus Space, Inc. (NASDAQ:SIDU), a satellite manufacturing and space services company based in Cape Canaveral, has signed a Memorandum of Understanding (MOU) with SkyServe, Inc., an in-space edge computing solutions provider. This partnership aims to integrate SkyServe's edge computing software on Sidus's LizzieSat constellation, enhancing satellite data capabilities with artificial intelligence and machine learning analytics.

The collaboration is expected to improve Technology Readiness Levels and establish integration processes for future missions. SkyServe will provide real-time insights from satellite imagery, further supporting Sidus's mission of delivering scalable, low-cost satellite services. The agreement aligns with the companies’ shared vision to democratize access to space-based data for various industries.

Sidus Space, Inc. (NASDAQ: SIDU) has announced the pricing of a public offering of 30,303,030 shares of its Class A common stock and 30,303,030 accompanying warrants at a combined price of $0.33 per unit. The gross proceeds are expected to be approximately $10 million before expenses. The offering includes a 45-day underwriters' option for an additional 4,545,454 shares and/or warrants. The funds will be allocated for various purposes including sales and marketing, operational costs, and product development. The offering is set to close on April 25, 2023, pending customary conditions.

Sidus Space, Inc. (NASDAQ:SIDU) announced that its Founder and CEO, Carol Craig, will participate in a Tech Talk on Climate Change at the 2023 Space Symposium in Colorado Springs on April 18, 2023, at 3:30 PM MDT. Alongside representatives from Beyond Gravity and former NASA Administrator Jim Bridenstine, Craig will discuss the crucial role of satellites in climate monitoring ahead of Earth Day. Sidus is set to deploy its LizzieSat™ satellites, enhancing access to space-based data for climate tracking. The LizzieSat™ platform aims to revolutionize geospatial intelligence with real-time data, addressing climate-related issues, natural disaster preparedness, and resource monitoring. Sidus Space, located in Cape Canaveral, Florida, offers comprehensive Space-as-a-Service solutions and aims to solve real-world problems through innovative satellite technologies.

Sidus Space, Inc. (NASDAQ:SIDU) announced that Carol Craig, Founder and CEO, will be a featured speaker at the Junior Achievement National Convention on July 27, 2023, in Louisville, Kentucky. This event is part of Sidus’ Sidus Serves initiative, focusing on community support and education. The initiative emphasizes volunteerism and aims to empower future leaders through STEM programs, environmental initiatives, and veteran affairs.

Craig has been active in Junior Achievement for 15 years, contributing over $170,000 to support educational programs. Junior Achievement is dedicated to educating students about entrepreneurship and financial literacy, reaching over 3.3 million students annually in the U.S.

Sidus Space, Inc. (NASDAQ:SIDU) has announced a partnership with L3Harris Technologies (NYSE:LHX) through the Department of Defense Mentor-Protégé Program (MPP). This collaboration aims to enhance Sidus' operational capabilities within the defense sector, enabling the company to improve its processes and gain insights from a larger company perspective. The agreement, effective from April 1, 2023, to March 31, 2024, will expand Sidus' supplier relationships and solidify its position in providing Space-as-a-Service solutions to global customers, including the Department of Defense. The MPP has successfully aided over 190 businesses in the past five years to carve out unique roles in the military supply chain.

Sidus Space, Inc. (NASDAQ:SIDU), a satellite company based in Cape Canaveral, Florida, has appointed Leonardo Riera to its Board of Directors. Riera brings over 35 years of experience in investment banking and fund management, having held significant positions at McKinsey & Co, Citicorp Investment Bank, and Bankers Trust in Venezuela. His extensive background includes roles in mergers and acquisitions and corporate governance. Riera currently serves on the boards of several companies, contributing his expertise in financial services to enhance business growth for Sidus Space. Company leadership expressed enthusiasm about Riera's appointment, viewing it as a strategic move to drive the company's expansion and innovation.

Sidus Space, Inc. (NASDAQ:SIDU), a satellite company specializing in Space and Defense-as-a-Service, will participate in the Space Symposium 2023 from April 17 to 20 in Colorado Springs, Colorado. Founder and CEO Carol Craig emphasized the importance of the event, noting the attendance of over 10,000 industry professionals. The symposium presents an opportunity for Sidus to connect with potential customers and partners as it prepares for the launch of its first LizzeSat™ satellite. Sidus Space operates a 35,000-square-foot facility in Cape Canaveral, Florida, focusing on satellite design, manufacturing, and mission support.