Latest news with #FortisVPX
Broadcast Pro
31-07-2025
- Business
- Broadcast Pro
Sidus Space closes $7.5m public offering
The capital infusion is expected to enhance Sidus Spaces ability to scale its operations and support future growth. Sidus Space has officially closed its previously announced best-efforts public offering, raising approximately $7.5m through the sale of 7,143,000 shares of its Class A common stock. The shares were priced at $1.05 each, with all shares sold directly by the company. Gross proceeds were reported before the deduction of placement agent fees and other offering-related expenses. The company stated that the net proceeds will be allocated to several key areas, including sales and marketing, operational costs, product development, manufacturing expansion and general corporate purposes. The capital infusion is expected to enhance Sidus Spaces ability to scale its operations and support future growth. Carol Craig, Chief Executive Officer, Sidus Space, said: 'This offering, coupled with our recently announced launch of our dual-use Fortis VPX product line with integrated AI/ML processing, positions Sidus to focus on significant growth opportunities.' Adarsh Parekh, Chief Financial Officer, added: 'The additional capital bolsters our liquidity, allowing our team to fully focus on the execution of our strategy and high growth initiatives that we expect will drive real outcomes for our customers.' Investment banking firm ThinkEquity served as the sole placement agent for the offering.
Yahoo
22-05-2025
- Business
- Yahoo
Sidus Space (SIDU) Launches Fortis VPX an AI Enabled Module Enabling Complex Missions
On May 22, Sidus Space, Inc. (NASDAQ:SIDU) announced the launch of its Fortis VPX, a modular computing system. This ruggedized system is designed for high-reliability command and data handling, and advanced AI/ML processing, and will enable precision navigation in extreme conditions. The new Fortis VPX follows the Sensor Open Systems Architecture (SOSA) and also uses industry-standard 3U VPX form factor, which enables rapid integration across maritime, land, space, and airborne applications. A close-up shot of a technician assembling a precision component of a low earth orbit microsatellite. The company anticipates Fortis' line of products will contribute to Sidus Space, Inc.'s (NASDAQ:SIDU) growing portfolio of space-qualified and defense-grade technologies. Earlier, during the fiscal first quarter 2025 update, the company introduced VPX technology, which is a Position, Navigation, and Timing Card (PNT) module addressing operational challenges in GPS-denied or contested environments. CEO of Sidus Space, Inc. (NASDAQ:SIDU), Carol Craig commented: 'Fortis VPX is a force multiplier for AI-driven mission systems. Its modularity, computing power, and SOSA-aligned compatibility enables customers to quickly adapt to evolving mission requirements while reducing total lifecycle costs.' Sidus Space, Inc. (NASDAQ:SIDU) is a United States-based space systems enabler that provides innovative solutions across satellite design, space data services, and space manufacturing. While we acknowledge the potential of SIDU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SIDU and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None Sign in to access your portfolio
