Sidus Space Prices Public Offering Of About 1.32 Mln Shares At $6.00/shr; Stock Drops In After-hours

(RTTNews) - Sidus Space Inc. (SIDU) announced pricing of an underwritten public offering of about 1.32 million shares of its Class A common stock at a public offering price of $6.00 per share for gross proceeds of about $7.9 million, before deducting underwriting discounts and offering expenses.

SIDU closed Thursday's regular trading at $8.98 up $3.41 or 61.22%. But in the after-hours trading, the stock dropped $2.39 or 26.61%.

The company plans to use the net proceeds from the offering for working capital and general corporate purposes.

The offering is expected to close on March 5, 2024.