Sidus Space plunges on $58.5 million direct stock deal

Sidus Space

20/04/2026 15:28

** Sidus Space's SIDU.O shares plunge 19.4% to $4.32

** The space and defense technology company late on Sunday announced the pricing of its registered direct offering of ~13.5 million shares/pre-funded warrants at $4.35 apiece for gross proceeds of $58.5 million

** Direct stock deal priced at 18.7% discount to stock's last close

** SIDU plans to use proceeds for working capital and general purposes

** ThinkEquity acted as sole placement agent for offering

** SIDU had 66.5 million outstanding shares as of March 31, per 10-K

** Lone analyst covering SIDU rates the stock "buy", with $10 PT - data compiled by LSEG

** As of last close, SIDU stock up 70.4% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))