Sidus Space Soars On Multiple Launch Agreement With SpaceX

(RTTNews) - Shares of Space-as-a-Service satellite company Sidus Space, Inc. (SIDU) are surging more than 28% Wednesday morning after the company said it signed a multiple launch agreement with SpaceX.

Sidus has signed agreement with SpaceX for five launches, beginning in early 2023.

Sidus Space has designed and is manufacturing LizzieSatTM for its multi-mission LEO satellite constellation operating in diverse orbits as approved by the International Telecommunication Union in February 2021.

"Our agreements with SpaceX and other launch partners will allow us to develop a consistent launch cadence for Sidus Space moving forward. Participation in these SpaceX launches will enable Sidus to meet the robust demand for our services," said Carol Craig, Sidus Space Founder and CEO.

SIDU, currently at $3.41, has traded in the range of $1.26-$29.70 in the past 52 weeks.