Sidus Space, Inc. (SIDU) Announces Closing of Public Offering
A satellite in the night sky, glimmering with the promise of aerospace exploration.
Each share was sold at a public offering price of $1.05 for gross proceeds of around $7.5 million, before deducting offering expenses and the placement agent's fees. Sidus Space, Inc. (NASDAQ:SIDU) intends to use the net proceeds for operational costs, sales and marketing, product development, manufacturing expansion, working capital, and other corporate purposes.
CEO Carol Craig said the offering, coupled with the recent launch of dual-use Fortis VPX product line with integrated AI/ML processing, positions the company well to focus on growth opportunities ahead. Adarsh Parekh, the firm's CFO, believes the additional capital will strengthen the company's liquidity and aid in strategy execution and high-growth initiatives.
Sidus Space, Inc. (NASDAQ:SIDU) is engaged in the design, manufacture, launch, and data collection of satellites. It serves the aerospace, commercial space, and defense industries.
While we acknowledge the potential of SIDU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Aerospace Stocks to Buy Now and 13 Best Global Stocks to Buy Right Now.
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