Sidus Space, which provides satellite and space services and defense manufacturing, filed on Tuesday with the SEC to raise up to $15 million in an initial public offering.
The Merritt Island, FL-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Sidus Space would command a market value of $81 million.
Sidus Space is a "space-as-a-service" company focused on commercial satellite design, manufacture, launch, and data collection. The company supports commercial space, aerospace, defense, underwater marine, and other commercial and government customers with services including multidisciplinary design engineering, electrical and electronic assemblies, satellite manufacturing, and satellite payload integration and operations support, among others. The company also intends to offer its LEO satellite constellation and mission-critical space-based data. Sidus has generated space related manufacturing revenue since its inception, but has not yet generated revenue from its commercial constellation space offering.
Sidus Space was founded in 2012 and booked $1 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol SIDU. The company filed confidentially on September 28, 2021. Boustead Securities is the sole bookrunner on the deal.
