Sidus Space, Inc. announced the closing of its brokered private placement offering with accredited and institutional investors, raising aggregate gross proceeds of approximately $14.1 million. This capital infusion is intended for working capital and general corporate purposes.
As part of the offering, the company issued 6,819,892 shares of Class A common stock, or pre-funded warrants in lieu thereof, along with common warrants to purchase 3,409,946 common shares. Each common warrant is immediately exercisable at $2.25 per share for five and a half years.
This significant financing event strengthens Sidus Space's capital position, enabling it to fund its strategic initiatives and ongoing operations. The private placement introduces new shares and warrants, leading to dilution for existing shareholders.
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