Summary by Moomoo AI
On January 29, 2024, Sidus Space, Inc., a Space and Data-as-a-Service company, announced the entry into an underwriting agreement with ThinkEquity LLC for a public offering of 1,181,800 shares of its Class A common stock and prefunded warrants to purchase up to 69,900 shares. The offering was priced at $4.50 per share and $4.499 per prefunded warrant, with the warrants exercisable immediately. The closing of the offering occurred on February 1, 2024, with net proceeds expected to be approximately $4.8 million, intended for working capital and general corporate purposes. Additionally, the company issued Representative warrants as compensation, exercisable at $5.625 per share. The offering was made under a previously filed and effective registration statement and included customary representations, warranties, covenants, and indemnification obligations. Directors and executive officers of the company entered into lock-up agreements, and the company agreed to a 90-day issuance standstill period. The legal opinion of Sheppard Mullin Richter & Hampton LLP was filed with the SEC, and the company issued press releases announcing the launch, pricing, and closing of the offering.