The transaction includes 6,799,892 shares of Class A common stock (or equivalent pre-funded warrants) and 3,399,946 Common Warrants. Each Pre-funded Warrant allows the holder to acquire one share of Class A common stock at an exercise price of $0.0001, while each Common Warrant, exercisable immediately, provides the right to purchase one share at $2.25 within a 5.5-year term. The offering is set to close on December 18, 2024, subject to standard conditions.
Sidus Space plans to allocate the proceeds toward working capital and general corporate needs.
ThinkEquity is serving as the exclusive placement agent for the private placement.
As the securities issued in this offering are unregistered under the Securities Act of 1933 and applicable state securities laws, they cannot be sold in the United States unless registered or exempt from registration requirements. Sidus Space has committed to filing a registration statement with the SEC to enable the resale of the issued shares and those underlying the warrants. Resales will require an SEC-compliant prospectus.
"This press release is not an offer to sell or a solicitation to buy securities. Such offers or sales will not occur in jurisdictions where they are prohibited under applicable law," the company clarified.
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