Sidus Space (SIDU) Prices 30.3M Share Offering at $0.33/sh

Sidus Space, Inc. (Nasdaq: SIDU) a Space-as-a-Service satellite company, today announced the pricing of an underwritten public offering of 30,303,030 shares of its Class A common stock, or pre-funded warrants (the “Pre-Funded Warrants”) in lieu thereof, and 30,303,030 warrants. Each share of Class A common stock and accompanying warrant is being sold to the public at a combined price of $0.33. Each warrant allows the purchase of one share of Class A common stock. The gross proceeds to the Company from this offering are expected to be approximately $10 million before deducting underwriting discounts, commissions and other offering expenses, and excluding the exercise of the over-allotment option, if any. In addition, Sidus Space has granted the underwriters a 45-day option to purchase up to an additional 4,545,454 shares (or Pre-Funded Warrants) and/or 4,545,454 additional warrants to cover over-allotments, if any. The offering is expected to close on April 25, 2023, subject to customary closing conditions.

Sidus Space intends to use the net proceeds of the offering for sales and marketing, operational costs, product development, manufacturing expansion and the remaining proceeds for working capital and other general corporate purposes.

Boustead Securities, LLC and EF Hutton, division of Benchmark Investments, LLC are acting as the representatives of the underwriters for the offering.

The registration statement on Form S-1 (File No. 333-270850) relating to the securities being sold in this offering was originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2023 and became effective on April 20, 2023. A final prospectus related to the proposed offering will be filed and made available on the SEC’s website at https://www.sec.gov/. The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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