Sidus Space to sell 6.8M shares at $2.07 in private placement

Sidus Space (SIDU) announced that it has entered into definitive securities purchase agreements with accredited and institutional investors for the issuance and sale of units consisting of shares of Class A common stock together with warrants to purchase one-half of the number of shares of Class A common stock of the company at a price of $2.07 per unit, on a brokered private placement basis, for aggregate gross proceeds of approximately $14M, before deducting fees and offering expenses. The company will be issuing a combination of 6,799,892 shares of Class A common stock and common warrants to purchase 3,399,946 shares of Class A common stock. Each Pre-funded warrant will entitle the holder to acquire one share of Class A common stock at an exercise price of $0.0001 per share, and each common warrant will be immediately exercisable and entitle the holder to acquire one share of Class A common stock at an exercise price of $2.25 per share, for a period of five and one-half years following the closing of the offering. The private placement is expected to close on December 18, subject to customary closing conditions.