Sidus Space plunges after equity raise

Sidus Space

28/07/2025 14:26

** Space and defense technology company Sidus Space's SIDU.O shares slide 43.6% to $1.14 premarket

** SIDU late Sunday announced pricing of public offering of 7.1 million shares at $1.05 per share for gross proceeds of about $7.5 million

** Offering priced at 48% discount to the last close

** Proceeds will be used for working capital and general purposes

** ThinkEquity was the sole placement agent for the offering

** SIDU had 18.2 million outstanding shares prior to the offering, per prospectus

** As of last close, SIDU stock down 58.8% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))