Sidus Space, which provides satellite and space services and defense manufacturing, raised $15 million by offering 3 million shares at $5, the midpoint of the range of $4 to $6.
The company is a "space-as-a-service" company focused on commercial satellite design, manufacture, launch, and data collection. The company supports commercial space, aerospace, defense, underwater marine, and other commercial and government customers with services including multidisciplinary design engineering, electrical and electronic assemblies, satellite manufacturing, and satellite payload integration and operations support, among others. The company also intends to offer its LEO satellite constellation and mission-critical space-based data. Sidus has generated space related manufacturing revenue since its inception, but has not yet generated revenue from its commercial constellation space offering.
Sidus Space plans to list on the Nasdaq under the symbol SIDU. Boustead Securities acted as sole bookrunner on the deal.
