SIDU - Sidus Space Stock Is Tumbling Tuesday: What's Going On? | Benzinga
Sidus Space Inc (NASDAQ:SIDU) shares are trading lower Tuesday after the company announced a proposed public offering.
What Happened: After the market close on Monday, Sidus Space announced that it intends to offer and sell 1,251,700 shares of its Class A common stock in an underwritten public offering.
Each share will be sold at a public offering price of $4.50 per share. The offering is expected to close on Feb. 1.
Sidus Space anticipates gross proceeds of $5.63 million. The company said it expects to use any net proceeds for working capital and general corporate purposes.
Sidus Space is a space and data-as-a-service satellite company focused on mission-critical hardware manufacturing, multi-disciplinary engineering services, ...