Latest news with #Fortis™VPX
Business Wire
29-07-2025
- Business
- Business Wire
Sidus Space Announces Closing of Public Offering
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space, Inc. (Nasdaq: SIDU) ("Sidus" or the "Company"), an innovative, agile space and defense technology company providing flexible, cost-effective solutions to government, defense, intelligence, and commercial companies around the globe, today announced the closing of its previously announced best-efforts public offering of 7,143,000 shares of its Class A common stock. Each share of Class A common stock was sold at a public offering price of $1.05 per share for gross proceeds of approximately $7.5 million, before deducting the placement agent's fees and offering expenses. All of the shares of common stock were offered by the Company. The Company intends to use the net proceeds from the offering for (i) sales and marketing, (ii) operational costs, (iii) product development, (iv) manufacturing expansion and (v) working capital and other general corporate purposes. '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.' said Carol Craig, the Company's Chief Executive Officer. 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.' ThinkEquity acted as sole placement agent for the offering. The securities were offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-273430), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the 'SEC') on July 26, 2023 and declared effective on August 14, 2023. The offering was made by means of a written prospectus. A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and made available on the SEC's website. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Sidus Space Sidus Space (NASDAQ: SIDU) is an innovative, agile space and defense technology company offering flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: Forward-Looking Statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled 'Risk Factors' in Sidus Space's prospectus supplement and Annual Report on Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Yahoo
22-05-2025
- Business
- Yahoo
Sidus Space Launches Fortis™ VPX: A Ruggedized, AI-Powered 3U OpenVPX Module Supporting Complex Missions from Sea to Space
Modular computing system unlocks new market opportunities across space, defense, and maritime sectors CAPE CANAVERAL, Fla., May 22, 2025--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU), (the "Company" or "Sidus"), an innovative space and defense technology provider, today announced the launch of Fortis™ VPX, a ruggedized, modular, SOSA™ aligned computing system engineered for high-reliability command and data handling (C&DH), advanced artificial intelligence/machine learning (AI/ML) processing, and precision navigation in extreme environments. The Fortis™ line of products establishes a new cornerstone in Sidus' expanding portfolio of space-qualified and defense-grade technologies, designed to support the increasing demand for edge computing across commercial and government sectors. Fortis™ VPX provides the scalable digital backbone needed to accelerate mission development timelines, reduce integration complexity, and support software-defined operations. Leveraging an open architecture and industry-standard 3U VPX form factor, Fortis™ is built for rapid integration into a range of applications across maritime, land, space, and airborne domains. "Fortis™ VPX is a force multiplier for AI-driven mission systems," said Carol Craig, CEO of Sidus Space. "Its modularity, computing power, and SOSA™ aligned compatibility enables customers to quickly adapt to evolving mission requirements while reducing total lifecycle costs." Strategic Alignment & Market Relevance With integrated AI/ML processing, secure navigation, and robust C&DH capabilities, Fortis™ VPX is positioned at the intersection of defense modernization, commercial space infrastructure, and autonomous systems development. The systems' modularity and dual-use applicability support a broad spectrum of use cases across satellite constellations, tactical ground systems, unmanned aerial vehicles (UAV), and intelligence, surveillance, and reconnaissance (ISR) platforms. Alignment with the SOSA™ Technical Standard and Sidus' proprietary IP supports recurring revenue opportunities through both system sales and service-based contracts across defense, aerospace, maritime, and commercial end uses. Why Fortis™ VPX Is Like No Other Proven AI in Space Since 2023: Sidus Space leads the edge-computing revolution in orbit, with operational AI deployment in 2023, positioning Sidus as one of the earliest entrants with heritage in space-qualified AI/Edge platforms Capturing VPX Market Momentum: Fortis™ VPX targets the rapidly growing market and expanding requirements for autonomous, edge-deployed intelligence in defense and aerospace sectors Strategic Focus on Edge AI Capabilities: Engineered to enable autonomous, low-latency AI processing at the edge, Fortis™ VPX meets the surging demand for near real-time intelligence across multiple domains Smart, Software-Defined Payload Architecture: Fortis™ combines VPX single board computers (SBC) with FeatherEdge™ AI to enable dynamic, software-defined payloads capable of adapting to changing mission parameters across domains Multi-Domain, Modular Platform: Designed for seamless deployment across all operational domains: Air: Tactical UAV systems Sea: Underwater autonomous vehicles Land: ISR ground systems and mobile C2 nodes Space: Radiation-hardened VPX AI payloads Spaceflight Heritage: Our FeatherEdge™ AI system, now integrated with Fortis™, has achieved Technology Readiness with LizzieSat™-3, demonstrating full mission qualification in orbit Scalable, Agile Manufacturing: Sidus combines vertical integration with rapid manufacturing processes to deliver Fortis™ VPX at scale "The recent launch of China's first AI-focused satellite, part of a planned 2,800-satellite constellation, signals a global acceleration in edge AI computing," said Val Ojdanic, Chief Technology Officer at Sidus Space. "Fortis™ VPX is built to meet this demand with the scalability, ruggedization, and AI readiness required to power next-generation infrastructure across domains." About Sidus Space Sidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: Forward-Looking Statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled 'Risk Factors' in Sidus Space's Annual Report on Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. View source version on Contacts Investor Relations investorrelations@ Media Inquiries press@ Sign in to access your portfolio
Business Wire
22-05-2025
- Business
- Business Wire
Sidus Space Launches Fortis™ VPX: A Ruggedized, AI-Powered 3U OpenVPX Module Supporting Complex Missions from Sea to Space
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU), (the 'Company' or 'Sidus'), an innovative space and defense technology provider, today announced the launch of Fortis™ VPX, a ruggedized, modular, SOSA™ aligned computing system engineered for high-reliability command and data handling (C&DH), advanced artificial intelligence/machine learning (AI/ML) processing, and precision navigation in extreme environments. The Fortis™ line of products establishes a new cornerstone in Sidus' expanding portfolio of space-qualified and defense-grade technologies, designed to support the increasing demand for edge computing across commercial and government sectors. Fortis™ VPX provides the scalable digital backbone needed to accelerate mission development timelines, reduce integration complexity, and support software-defined operations. Share Fortis™ VPX provides the scalable digital backbone needed to accelerate mission development timelines, reduce integration complexity, and support software-defined operations. Leveraging an open architecture and industry-standard 3U VPX form factor, Fortis™ is built for rapid integration into a range of applications across maritime, land, space, and airborne domains. 'Fortis™ VPX is a force multiplier for AI-driven mission systems,' said Carol Craig, CEO of Sidus Space. 'Its modularity, computing power, and SOSA™ aligned compatibility enables customers to quickly adapt to evolving mission requirements while reducing total lifecycle costs.' Strategic Alignment & Market Relevance With integrated AI/ML processing, secure navigation, and robust C&DH capabilities, Fortis™ VPX is positioned at the intersection of defense modernization, commercial space infrastructure, and autonomous systems development. The systems' modularity and dual-use applicability support a broad spectrum of use cases across satellite constellations, tactical ground systems, unmanned aerial vehicles (UAV), and intelligence, surveillance, and reconnaissance (ISR) platforms. Alignment with the SOSA™ Technical Standard and Sidus' proprietary IP supports recurring revenue opportunities through both system sales and service-based contracts across defense, aerospace, maritime, and commercial end uses. Why Fortis™ VPX Is Like No Other Proven AI in Space Since 2023: Sidus Space leads the edge-computing revolution in orbit, with operational AI deployment in 2023, positioning Sidus as one of the earliest entrants with heritage in space-qualified AI/Edge platforms Capturing VPX Market Momentum: Fortis™ VPX targets the rapidly growing market and expanding requirements for autonomous, edge-deployed intelligence in defense and aerospace sectors Strategic Focus on Edge AI Capabilities: Engineered to enable autonomous, low-latency AI processing at the edge, Fortis™ VPX meets the surging demand for near real-time intelligence across multiple domains Smart, Software-Defined Payload Architecture: Fortis™ combines VPX single board computers (SBC) with FeatherEdge™ AI to enable dynamic, software-defined payloads capable of adapting to changing mission parameters across domains Multi-Domain, Modular Platform: Designed for seamless deployment across all operational domains: Air: Tactical UAV systems Sea: Underwater autonomous vehicles Land: ISR ground systems and mobile C2 nodes Space: Radiation-hardened VPX AI payloads Spaceflight Heritage: Our FeatherEdge™ AI system, now integrated with Fortis™, has achieved Technology Readiness with LizzieSat™-3, demonstrating full mission qualification in orbit Scalable, Agile Manufacturing: Sidus combines vertical integration with rapid manufacturing processes to deliver Fortis™ VPX at scale 'The recent launch of China's first AI-focused satellite, part of a planned 2,800-satellite constellation, signals a global acceleration in edge AI computing,' said Val Ojdanic, Chief Technology Officer at Sidus Space. 'Fortis™ VPX is built to meet this demand with the scalability, ruggedization, and AI readiness required to power next-generation infrastructure across domains.' About Sidus Space Sidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions, including satellite manufacturing and technology integration, AI-driven space-based data solutions, mission planning and management operations, AI/ML products and services, and space and defense hardware manufacturing. With its mission of Space Access Reimagined®, Sidus Space is committed to rapid innovation, adaptable and cost-effective solutions, and the optimization of space system and data collection performance. With demonstrated space heritage, including manufacturing and operating its own satellite and sensor system, LizzieSat®, Sidus Space serves government, defense, intelligence, and commercial companies around the globe. Strategically headquartered on Florida's Space Coast, Sidus Space operates a 35,000-square-foot space manufacturing, assembly, integration, and testing facility and provides easy access to nearby launch facilities. For more information, visit: Forward-Looking Statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled 'Risk Factors' in Sidus Space's Annual Report on Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
