Sidus Space has filed an S-3 registration statement to register the resale of up to 10,229,838 shares of Class A common stock. This includes 5,657,090 shares issued in the private placement, 1,162,802 shares issuable upon the exercise of pre-funded Warrants, and 3,409,946 shares issuable upon the exercise of common Warrants.
These shares were issued to investors in the private placement on December 17, 2024, at a price of $2.25 per share. The exercise price of the common Warrants is $2.25 with a term of 5.5 years. The nominal exercise price of the pre-funded Warrants is $0.0001. Sidus Space will not profit from the resale of the shares, but could generate up to $7.7 million in revenue if all Warrants are cash-exercised.
The application fulfilled the obligation of the registration rights agreement between Sidus Space and the investors. It allows shareholders to resell their shares, but does not necessarily mean they will do so immediately. The company will pay the registration fees, excluding any underwriting discounts or commissions.
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