Latest news with #LizzieSat
Business Wire
25-07-2025
- Business
- Business Wire
Sidus Space Announces Proposed 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 that it intends to offer to sell shares of its Class A common stock (and/or pre-funded warrants ('Pre-Funded Warrants') in lieu thereof) in a best-efforts public offering. All of the shares of Class A common stock (and/or Pre-funded Warrants) are to be sold by the Company. ThinkEquity is acting as sole placement agent for the offering. The Company intends to use the net proceeds from the offering for sales and marketing, operational costs, product development, manufacturing expansion, working capital and general corporate purposes. The securities will be 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 will be made only by means of a written prospectus. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been or will be filed with the SEC on its website at Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from the offices of ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such preliminary prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of 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 preliminary 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.
Business Wire
17-06-2025
- Business
- Business Wire
Sidus Space Announces Adjournment of Annual Meeting
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU), (the 'Company' or 'Sidus'), an innovative, agile space mission enabler, today announced that its 2025 Annual Meeting of Stockholders, scheduled for June 17, 2025, has been adjourned due to a lack of quorum. The adjourned meeting will be held at 8:30 a.m. Eastern Time on Tuesday, July 1, 2025 at Homewood Suites, located at 9000 Astronaut Blvd., Cape Canaveral, FL 32920. The record date for determining stockholders eligible to vote on the proposals at the Annual Meeting remains April 28, 2025. A stockholder may use one of the following simple methods to vote: Vote by Internet at until 11:59 PM EDT on June 30, 2025 using the control number appearing on the proxy card. Vote by mail by marking, dating and signing the proxy card, and returning it in the postage-paid envelope provided to Pacific Stock Transfer Company. Vote at the Annual Meeting. The Company strongly encourages any eligible stockholder that has not yet voted their shares, or provided voting instructions to their broker or other record holder, to do so promptly. No action is required by any stockholder who has previously delivered a proxy and who does not wish to revoke or change that proxy. 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.
Associated Press
30-04-2025
- Business
- Associated Press
Sidus Space and Saturn Satellite Networks Sign Memorandum of Understanding to Support Development of Next-Generation GEO Satellite Platform
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Apr 30, 2025-- Sidus Space (NASDAQ: SIDU) (the 'Company' or 'Sidus'), an innovative, agile space mission enabler, today announced the signing of a Memorandum of Understanding (MOU) with Saturn Satellite Networks, Inc., a pioneering developer of space-based reprogrammable payloads and geostationary (GEO) satellite solutions redefining access to space communications. This agreement outlines a strategic collaboration to support the development and deployment of Saturn's SBN-X platform — a new low-cost, high-performance GEO satellite solution. Under the MOU, Sidus Space will work closely with Saturn to provide critical support across various activities. Saturn intends to award Sidus a scope of work that includes Assembly, Integration, and Testing at Sidus' advanced manufacturing facilities in Cape Canaveral, Florida; acquisition of certain satellite subcomponents; as well as mechanical component engineering and manufacturing services. 'We are excited to collaborate with Saturn Satellite Networks on the groundbreaking SBN-X initiative,' said Carol Craig, CEO of Sidus Space. 'The selection of Sidus as Saturn's partner leverages our proven expertise in spacecraft design, integration, and testing, while aligning with our mission to provide flexible, cost-effective space solutions for commercial and government customers.' The SBN-X platform is designed to provide affordable GEO satellite communications offering a 5kW analogue payload and 100Gbps high-throughput, digital payload system. The collaboration between Sidus and Saturn is expected to broaden market access and expand both companies' capabilities in supporting new and emerging GEO communications needs. 'Our partnership with Sidus Space strengthens the foundation of the SBN-X platform, combining their agile manufacturing capabilities with our vision for transforming GEO communications,' said Tom Choi, CEO of Saturn Satellite Networks. 'Together, we're positioned to rapidly deliver next-generation satellite solutions, at a significantly lower price point, to meet the rapidly evolving demands of expanding global markets.' 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: About Saturn Satellite Networks, Inc. Established in 2017 and launched in 2018 Saturn Satellite Networks (SSN) Inc., is a space technology and service developer lead by an experienced team of satellite design, manufacturing, sales, and operations professionals with over 300 years of experience to redefine the approach for creating reliable and affordable satellites at GEO, MEO and LEO. The company initially developed the Nationsat a 2kW GTO platform in 2018 - 2019. Nationsat achieved and passed the PDR based on a contract with an international customer. Saturn then developed the SBN-1, a 10kW 100Gbps HTS satellite using an all-digital, reprogrammable payload provided by CesiumAstro. Given the changing market dynamics of the GEO markets and taking the lessons learned from the earlier programs, SSN has evolved its approach to GEO and NGSO by introducing their newest platforms called SBN-X and Caelsat in 2024 and 2025. The newest systems provide the best-in-class power, cost and a very innovative approach to the launch options ensuring compatibility with established launch systems along with newly emerging mini launchers. We work with world leading third party components into our system to ensure not only lower costs but maximum reliability and advanced technologies. We work with end users, government as well as satellite operators to provide technology and financing solutions to meet their requirements for affordable space. 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 CONTACT: Investor Relations [email protected] Media Inquiries [email protected] KEYWORD: UNITED STATES NORTH AMERICA FLORIDA INDUSTRY KEYWORD: DATA MANAGEMENT AEROSPACE TECHNOLOGY MANUFACTURING SATELLITE TELECOMMUNICATIONS ARTIFICIAL INTELLIGENCE NETWORKS INTERNET ENGINEERING MOBILE/WIRELESS SOURCE: Sidus Space Copyright Business Wire 2025. PUB: 04/30/2025 08:30 AM/DISC: 04/30/2025 08:29 AM
Yahoo
31-03-2025
- Business
- Yahoo
Sidus Space Reports Full-Year 2024 Financial Results and Provides Business Updates
CAPE CANAVERAL, Fla., March 31, 2025--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU) (the "Company" or "Sidus"), an innovative, agile space mission enabler, announced its financial results for the fourth quarter and full-year ended December 31, 2024, and provided a business update. The Company is scheduled to host a conference call and webcast today, Monday, March 31, at 5:00 p.m. ET. "2024 was a defining year for Sidus - a year in which we validated our technology, expanded our constellation, grew our customer base, and secured key strategic contracts and partnerships that position us for growth and long-term success," said Carol Craig, Sidus Chairwoman and CEO. "In the past twelve months, Sidus has evolved from a space manufacturing and services company into a full-fledged space technology and AI company, focused on delivering mission-critical, AI-powered space data solutions with three LizzieSat satellites, designed and manufactured by Sidus, now in orbit." Sidus' LizzieSat®-3 ("LS-3"), launched in March of 2025, was designed, developed, manufactured and launched at a 45% lower cost than the cost of the initial satellite launched just over twelve months prior, demonstrating Sidus' ability to continue to achieve capital efficiency. In less than two hours from deployment of LS-3, communication and control of the spacecraft was established demonstrating the benefits of Sidus' rich space heritage and expertise. Highlights: Raised $37 million of funding Ended 2024 with a cash balance of $15.7 million positioning Sidus for growth and optimal servicing of space-related backlog and pipeline Selected to exclusively design and build the first-generation lunar fleet of Data Storage Spacecraft for Lonestar Data Holdings, including digital technology Launched LizzieSat® 1 and 2, followed by LizzieSat-3 in March 2025, completing three launches in just over one year Granted approval by FCC for operation of a micro constellation of remote sensing, multi-mission satellites in Low Earth Orbit (LEO) (LizzieSat®-2-5) Completed the critical design review for LizzieSat® NL, a laser communication satellite contracted by The Netherlands Organization Announced strategic partnership with Reflex Aerospace, a cutting-edge European satellite manufacturing startup, to deliver flexible, cost-effective, and high-performance solutions to meet diverse customer needs while strengthening the presence in global markets Implemented SAP for manufacturing in 2024 with full integration across the organization expected in 2025 Expanded our physical presence with the opening of a West Coast office in El Segundo, California, so Sidus is now located in close proximity to both Eastern and Western launch sites Subsequent Operational Highlights: Received FCC approval for space-to-space data relay capability for LizzieSat® platform, which enables the ability to provide rapid direct-to-user data transfer capability and significantly reduce data latency rapid-delivery data service. Capability will be incorporated into LizzieSat®-3 and future satellites Launched LizzieSat™-3 on March 15, 2025 and established communication and control of the spacecraft in less than 2 hours\ Announced next-generation on-orbit AI with the launch of the Sidus Orlaith™ AI ecosystem, an advanced space-rated AI processing system optimized for delivering high-performance, near real-time data analytics directly from space and is capable of 100 Trillion Operations per Second (TOPS) Improved capital efficiency paving the way for margin expansion and sustained profitability LizzieSat™-2 total cost 27% less than LizzieSat™-1 LizzieSat™-3 total cost 25% less than LizzieSat™-2 and 45% less than LizzieSat™-1 Each satellite included greater capabilities and improved performance over prior satellite Appointed Adarsh Parekh as New Chief Financial Officer (CFO) to spearhead strategic financial initiatives Financial Highlights for the Full Year Ending December 31, 2024: Total revenue for the twelve months ending December 31, 2024, was approximately $4.7 million, a decrease of $1.3 million or 22% compared to total revenue for the twelve months ended December 31, 2023. This decrease highlights Sidus' deliberate strategic shift from miscellaneous component manufacturing to higher-margin business lines of data, technology and satellite manufacturing for Sidus as well external customers. Cost of revenue increased 42% for the twelve months ended December 31, 2024, to approximately $6.1 million as compared to approximately $4.3 million for the twelve months ended December 31, 2023. The increase was primarily driven by higher depreciation costs associated with the first satellite asset deployed in March 2024, the mix of varying contracts with higher material and labor expenses, shifts in milestone payments for our higher margin satellite related business and continued increased supply chain-related costs. Although depreciation will continue to impact cost of revenue, it should be significantly offset as we grow our high-margin satellite and data-related revenue. Gross profit for the twelve months ended December 31, 2024, decreased 31% to a loss of approximately $1.5 million compared to a profit of approximately $1.6 million for the twelve months ended December 31, 2023. Gross profit margin was negative 31% for the full year 2024 as compared to 28% for the full year of 2023. The change was mainly driven by higher depreciation costs associated with our first satellite asset deployed in March 2024, our mix of varying contracts with higher material and labor expenses and shifts in milestone payments for our higher margin satellite related business. Selling, general, and administrative expenses for the twelve months ended December 31, 2024, totaled approximately $14.2 million, approximately in line with the same period in the prior year. Increases to consulting services for business development, mission control expenses, fundraising expenses and board related compensation were offset by reductions in D&O insurance expense, professional fees, R&D costs and investor/public relations expenses as a result of bringing more of these functions in house. Adjusted EBITDA loss, a non-GAAP measure, for the twelve months ended December 31, 2024, totaled $12.9 million as compared to an Adjusted EBITDA loss of $10.9 million for the same period the prior year, which represents a 19 percent reduction in our EBITDA. Total non-GAAP adjustments for interest expense, depreciation and amortization, acquisition deal costs, severance costs, capital markets and advisory fees, equity-based compensation and warrant costs are provided in the reconciliation table below. Net loss for the twelve months ended December 31, 2024, was $17.5 million, compared to a net loss of $14.3 million in the period of 2023. Balance Sheet: As of December 31, 2024, the Company had $15.7 million of cash as compared to $1.2 million on December 31, 2023, which represents an increase of $14.5 million. The increased cash balance puts Sidus in an excellent position to transition towards its core, higher-margin businesses of space manufacturing and space technology. Current assets increased by approximately $13.0 million, or 142%, to $22.3 million as of December 31, 2024, from approximately $9.2 million as of December 31, 2023. The increase is primarily attributable to our increased cash balance. Current liabilities increased by approximately $2.0 million, or 16%, to approximately $14.2 million as of December 31, 2024, from approximately $12.2 million as of December 31, 2023. The increase was attributable to an increase in the asset-based loan liability partially offset by a decrease in accounts payable and other current liabilities. Conference Call and Webcast Event: Sidus Space Fourth Quarter and Full-Year 2024 Financial Results Conference Call Date: Monday, March 31, 2025 Time: 5:00 p.m. Eastern Time Live Call: + 1-877-269-7751 (U.S. Toll-Free) or +1-201-389-0908 (International) Webcast: For interested individuals unable to join the conference call, a dial-in replay of the call will be available until Monday, April 15, 2025, at 11:59 P.M. ET and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay access ID: 13752638. An online archive of the webcast will be available for three months following the event at About Sidus Space Sidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions, including custom satellite design, payload hosting, mission management, AI-enhanced space-based sensor data-as-a-service and space 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: 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, 2023, 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. NON-GAAP MEASURES To provide investors with additional information in connection with our results as determined in accordance with GAAP, we use non-GAAP measures of adjusted EBITDA. We use adjusted EBITDA in order to evaluate our operating performance and make strategic decisions regarding future direction of the company since it provides a meaningful comparison to our peers using similar measures. We define adjusted EBITDA as net income (as determined by U.S. GAAP) adjusted for interest expense, depreciation and amortization expense, acquisition deal costs, severance costs, capital market and advisory fees, equity-based compensation and warrant costs. These non-GAAP measures may be different from non-GAAP measures made by other companies since not all companies will use the same measures. Therefore, these non-GAAP measures should not be considered in isolation or as a substitute for relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis. SUMMARY FINANCIAL RESULTS The following table provides certain selected financial information for the full year ended December 31, 2024 and 2023: Twelve Months Ended December 31, 2024 2023 Change % Revenue $ 4,672,646 $ 5,962,785 $ (1,290,139 ) (22 )% Cost of revenue 6,141,657 4,321,482 1,820,175 42 % Gross Profit (Loss) (1,469,011 ) 1,641,303 (3,110,314 ) (190 )% Gross Profit Percentage (31 )% 28 % Selling, general & administrative expense 14,249,870 14,166,617 83,253 1 % Other expense (1,805,175 ) (1,803,034 ) (2,141 ) 0 % Net loss $ (17,524,056 ) $ (14,328,348 ) $ (3,195,708 ) 22 % The following table reconciles adjusted EBITDA to net loss (the most comparable GAAP measure) for the full year ended December 31, 2024 and 2023: Twelve Months Ended December 31, 2024 2023 Change % Net Income / (Loss) $ (17,524,056 ) $ (14,328,348 ) $ (3,195,708 ) 22 % Interest Expense (i) 1,306,252 903,136 403,116 45 % Depreciation and Amortization (ii) 2,171,873 217,107 1,954,766 900 % Acquisition Deal Costs (iii) - 220,632 (220,632 ) -100 % Capital raise expense (iv) 805,322 927,875 (122,553 ) -13 % Warrant costs underwriter (v) - 917,848 (917,848 ) -100 % Severance Costs 22,201 147,222 (125,021 ) -85 % Equity based compensation (vi) 309,736 104,038 205,698 198 % Total Non-GAAP Adjustments 4,615,384 3,437,858 1,177,526 34 % Adjusted EBITDA (12,908,672 ) (10,890,490 ) (2,018,182 ) 19 % The following table provides selected financial data about Sidus' Liquidity and Capital Resources as of December 31, 2024, and December 31, 2023: December 31, December 31, 2024 2023 Change % Current assets $ 22,252,552 $ 9,202,310 $ 13,050,242 142 % Current liabilities $ 14,209,502 $ 12,219,356 $ 1,990,146 16 % Working capital (deficiency) $ 8,043,050 $ (3,017,046 ) $ 11,060,096 (367 )% View source version on Contacts Investor Relations investorrelations@ Media Inquiries press@ Sign in to access your portfolio
Yahoo
12-03-2025
- Business
- Yahoo
Sidus Space and Warpspace Sign MOU to Launch Joint Venture to Develop Advanced Optical Space Communication
Sidus Space Enters into Strategic Collaboration to Strengthen Presence in Global Markets CAPE CANAVERAL, Fla. & AZUMA CITY, Japan, March 12, 2025--(BUSINESS WIRE)--Sidus Space (NASDAQ: SIDU) (the "Company" or "Sidus"), an innovative, agile space mission enabler, today announced the signing of a Memorandum of Understanding (MOU) with Warpspace, a pioneering Japanese space-tech company specializing in near real-time high-speed communication network services. The agreement establishes the framework to pursue a Joint Venture focused on delivering integrated solutions for next-generation satellite communications and mission operations. "This alliance marks a significant milestone for Sidus Space as we work alongside Warpspace to advance space innovation in technology, AI and optical communication systems," said Carol Craig, Founder and CEO of Sidus Space. "By combining Sidus' mission expertise with Warpspace's WarpHub InterSat, a secure, cutting-edge communication system, we are poised to expand our high-performance solutions to meet diverse customer mission needs, strengthening our presence in global markets." "We are excited to collaborate with Sidus Space, whose innovative capabilities and mission expertise align with our vision for the future of space communications," said Hiro Mori, CEO of Warpspace USA and Group Chief Strategy Officer at Warpspace. "Together, we plan to accelerate the deployment of next-generation optical communication technologies and provide unparalleled connectivity solutions that will enable faster, more secure and reliable communications in space." Activities related to the Joint Venture are expected to begin immediately, with both companies working toward defining the next steps for implementation. About Sidus Space Sidus Space (NASDAQ: SIDU) is a space mission enabler providing flexible, cost-effective solutions, including custom satellite design, payload hosting, mission management, AI-enhanced space-based sensor data-as-a-service and space 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: About Warpspace Inc. In recent years, the importance of space-derived data, including satellite imaging data, has been increasing from the perspective of disaster prevention and security. In response, there is a growing need for high-capacity, quasi-real-time, and high-security transmission of such data. To respond to this need, Warpspace aims to promote space communication using optical communication methods, as opposed to conventional radio wave communication methods. We are developing software and hardware to support the introduction of optical communication technology, as well as to provide relay network services using this technology. 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, 2023, 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
