Sidus Space Announces Appointment of Leonardo Riera to Board Chair and Promotion of Jared Novick to Chief Operating Officer

Rhea-AI Summary

Sidus Space (NASDAQ: SIDU) appoints Leonardo Riera as Chair of the Board of Directors and promotes Jared Novick to COO. Riera brings 35 years of experience in investment banking and fund management. Novick led Sidus' acquisition of Exo-Space and has experience in government work and cybersecurity. CEO Carol Craig will focus on commercial development strategy. Five near-term launches of LizzieSats planned for Q1 and Q2 2024.

CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a multi-faceted Space and Data-as-a-Service company, today announced the appointment of Leonardo Riera to the position of Chair of the Board of Directors and the promotion of Jared Novick to the role of Chief Operating Officer (“COO”).

Mr. Riera, currently a Director of Sidus, was appointed as Chair of the Board, effective Thursday, September 14, 2023. It is expected that Mr. Riera will deploy his significant Board experience to manage governance and related matters. Additionally, this change will allow Sidus’s CEO, Founder, and former Chair, Carol Craig, to continue leading the company in its successful expansion and meet its primary goals and objectives.

Mr. Riera brings more than 35 years of experience in investment banking and fund management to Sidus. During his accomplished career, Mr. Riera has served as a Consultant for McKinsey & Co, as Head of a Mergers & Acquisitions unit for Citicorp Investment Bank, was the Country Head for Bankers Trust in Venezuela for over 10 years, and subsequently worked in fund management with Intl Consilium and as an entrepreneur. Mr. Riera, who has served on the boards of many private and public companies, currently serves on the Board of Directors of Vaya Space, Inc. and FenixOro Gold, where he also chairs the Audit Committee. He has an MBA from the Wharton School of Business at the University of Pennsylvania and has completed additional education for Senior Executives at the Harvard Business School.

Jared Novick has been promoted to the role of COO, from his prior role as Senior Vice President, Strategy and Special Projects. Most recently, Mr. Novick led Sidus’ acquisition of Exo-Space, a space-based AI company, and has worked its post-close integration into newly planned service offerings for Sidus. Mr. Novick's past experience includes government work across the Intelligence Community and Department of Defense where he developed and demonstrated special capabilities and working at NASA in high-altitude programs operating geospatial technologies. Mr. Novick brings prior business experiences as founder and CEO building companies with subscription revenue business models in both Aerospace & Defense and Cybersecurity sectors. He presently sits on the Board of Advisors at BlueVoyant, a unicorn cybersecuirty company.

“I would like to thank Leo for accepting the Chair of the Board position for Sidus. His taking over as Chair will give me the ability to increase my focus on the execution of our commercial development strategy to drive value for our shareholders,” said Carol Craig, CEO and Founder of Sidus. “Additionally, I am excited to continue working with Jared as his promotion to COO will allow us to work hand-in-hand as we prepare for the five near-term launches of our LizzieSats in Q1 and Q2 of 2024,” continued Ms. Craig.

About Sidus Space
Sidus Space (NASDAQ: SIDU) is a multi-faceted Space and Data-as-a-Service company focused on mission-critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support. The Company is located in Cape Canaveral, Florida, where it operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on vertically integrated Space-as-a-Service solutions including end-to-end satellite support.

Sidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives. More than just a “Satellite-as-a-Service” provider, Sidus Space is a trusted Mission Partner–from concept to Low Earth Orbit and beyond. Sidus Space is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.

Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute ‘forward-looking statements’ within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words ‘anticipate,’ ‘believe,’ ‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’ ‘would’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Sidus Space’s Annual Report on Form 10-K for the year ended December 31, 2022, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

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Investor Relations

Valter Pinto or Jack Perkins

KCSA Strategic Communications

sidus@kcsa.com

(212) 896-1254

Media

Pam Davis

Sidus Space

mediateam@sidusspace.com

Source: Sidus Space