2023-08-22 09:04:55 ET
- Sidus Space ( NASDAQ: SIDU ) Tuesday said it had acquired Exo-Space, a California-based firm specializing in Edge Artificial Intelligence software and hardware for space applications.
- This deal helps Sidus tap into the growing AI sector and expand its offerings in the Earth and Space Observations services market.
- Sidus acquired Exo-Space's assets in a combination of cash, stock options, and performance bonus incentives in alignment with Sidus’ growth into an AI-enabled space services company.
- The deal is projected to have a positive impact on Sidus's earnings before interest, taxes, depreciation, and amortization.
- Sidus said it has issued non-qualified stock option awards to purchase an aggregate of 3,955,212 shares of Class A common stock to certain former employees of Exo-Space.
- The options have an exercise price of $0.16 per share, which is equal to the closing price of Sidus’ Class A common stock on August 21.
- SIDU +13.78% premarket to $0.1833
- Source: Press Release
For further details see:
Sidus Space acquires Edge Artificial Intelligence company Exo-Space