CAPE CANAVERAL, Fla. - Sidus Space, Inc. (NASDAQ:SIDU), a company currently showing weak financial health according to InvestingPro metrics, announced the pricing of a best-efforts public offering of 9.8 million shares of its Class A common stock at $1.00 per share, according to a company press release.
The space and defense technology company, which has seen its stock price decline by about 73% year-to-date, expects to raise approximately $9.8 million in gross proceeds before deducting placement agent fees and offering expenses. The offering is scheduled to close on September 16, 2025, subject to customary closing conditions.
ThinkEquity is serving as the sole placement agent for the transaction. Sidus Space plans to use the net proceeds for working capital and general corporate purposes.
The securities are being offered through a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission in July 2023 and declared effective the following month.
Sidus Space, headquartered on Florida's Space Coast, provides satellite manufacturing, technology integration, and data solutions to government, defense, intelligence, and commercial clients. The company operates a 35,000-square-foot manufacturing facility for space systems assembly, integration, and testing.
The announcement comes as part of the company's ongoing efforts to secure funding for its operations in the competitive space technology sector. With a current market capitalization of $33.6 million and rapidly depleting cash reserves, the company faces significant challenges. InvestingPro analysis reveals 14 additional key insights about SIDU's financial position and market performance, available in the comprehensive Pro Research Report.
In other recent news, Sidus Space Inc. reported a 36% year-over-year increase in revenue for Q2 2025, reaching $1.3 million. Despite this revenue growth, the company recorded a net loss of $5.6 million, which is higher than the $4.1 million loss from the same quarter last year. Sidus Space has indicated that it does not expect to turn a profit in 2025 but anticipates substantial revenue growth later in the year. Additionally, the company announced its intention to conduct a public offering of Class A common stock and pre-funded warrants. ThinkEquity is set to serve as the sole placement agent for this offering. Sidus Space aims to use the proceeds from this offering for working capital and general corporate purposes. The securities will be offered through a shelf registration statement that was filed and declared effective earlier this year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.