What's Going On With Sidus Space Stock Today?

Sidus Space, Inc. SIDU shares are trading lower on Tuesday.

In an SEC filing, the company announced an offering of 3.75 million shares at an assumed price of $2.67 per share. The offering also contains up to 3.745 million pre-funded warrants to purchase up to 3.745 million shares of Class A common stock.

Per Sidus Space, the net proceeds from this offering will be approximately $8.9 million. The firm will use the net proceeds from this offering for sales and marketing, operational costs, product development, manufacturing expansion, and working capital, along with other general corporate purposes.

Also Read: Oil Prices Take Largest Plunge In Over A Year As Israel Vows To Spare Iranian Facilities: Energy Stocks Sink, Airlines, Cruise Lines Rally

In a press release, Sidus Space announced that the U.S. Federal Communications Commission (FCC) has approved its operation of a micro constellation of remote sensing, multi-mission satellites in Low Earth Orbit (LEO).

This regulatory milestone is a significant step in Sidus Space’s plans for on-orbit expansion and underscores its strategic commitment to enabling new missions while delivering flexible, cost-effective data acquisition solutions through its innovative data-as-a-service model.

The company retains ownership of the data collected by its LizzieSat sensors for all missions, giving customers a distinct advantage in accessing valuable data streams.

The FCC approval marks a significant milestone for Sidus Space as it expands its on-orbit presence and enhances its capacity to provide a variety of industries with improved real-time, space-based data services.

According to Benzinga Pro, SIDU stock has lost over 79% in the past year.

Price Action: SIDU shares are trading lower by 11.2% to $2.335 at last check Tuesday.

Read Next:

• State Street Q3 Earnings: AUM Soars To $4.7T, Announces CFO Eric Aboaf’s Departure In 2025