Sidus Space plunges after $100 million direct stock deal
28/05/2026 16:52
BUZZ-Sidus Space plunges after $100 million direct stock deal ** Sidus Space's SIDU.O shares plunge as much as 21.6%, last down 16.2% at $5.10
** Space and defense technology late Wednesday announced pricing of $100 million registered direct offering
** SIDU sold ~19.7 million shares at $5.08 apiece, a 16.6% discount to stock's last close
** ThinkEquity acted as sole placement agent for offering
** SIDU plans to use proceeds for working capital and general purposes
** Cape Canaveral, Florida-based SIDU had 80.9 million outstanding shares as of May 14
** As of last close, SIDU stock up 93.8% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
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