Sidus Space Announces 1-for-100 Reverse Stock Split
18 Dezembro 2023 - 1:30PM
Business Wire
Sidus Space, Inc. (“Sidus” or the “Company”) (NASDAQ:SIDU), a
multi-faceted Space and Data-as-a-Service company, today announced
that it will effect a 1-for-100 reverse stock split of its issued
and outstanding shares of common stock. The reverse stock split was
previously approved by Sidus stockholders with the final ratio
determined by the Company’s Board of Directors. The reverse stock
split will become effective at 4:01 p.m. Eastern time on December
19, 2023. Commencing with the opening of trading on The Nasdaq
Capital Market (“Nasdaq”) on December 20, 2023, the Company’s
common stock will trade on a post-split basis under its existing
trading symbol “SIDU.”
Following the reverse stock split, the CUSIP number for the
Company’s common stock will be 826165201. As a result of the
reverse stock split, every 100 shares of issued and outstanding
common stock will be exchanged for 1 share of common stock, with
any fractional shares being rounded up to the next higher whole
share. Immediately after the reverse stock split becomes effective,
the Company will have approximately 778,679 shares of Class A
common stock issued and outstanding. In addition, a proportionate
adjustment will be made to outstanding equity-based awards and
other equity rights.
The reverse stock split is primarily intended to bring the
Company into compliance with Nasdaq’s $1.00 per share minimum bid
price requirement for continued listing; however, no assurance can
be given that such reverse stock split will enable the Company to
regain compliance with the Nasdaq minimum bid price
requirement.
About Sidus Space
Sidus Space (NASDAQ: SIDU) is a multi-faceted Space and
Data-as-a-Service company focused on mission-critical hardware
manufacturing; multi-disciplinary engineering services; satellite
design, production, launch planning, mission operations; and
in-orbit support. The Company is located in Cape Canaveral,
Florida, where it operates from a 35,000-square-foot manufacturing,
assembly, integration, and testing facility focused on vertically
integrated Space-as-a-Service solutions including end-to-end
satellite support.
Sidus Space has a mission of Bringing Space Down to Earth™ and a
vision of enabling space flight heritage status for new
technologies while delivering data and predictive analytics to
domestic and global customers. Any corporation, industry, or
vertical can start their journey off-planet with Sidus Space’s
rapidly scalable, low-cost satellite services, space-based
solutions, and testing alternatives. More than just a
"Satellite-as-a-Service" provider, Sidus Space is a trusted Mission
Partner–from concept to Low Earth Orbit and beyond. Sidus Space is
ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
‘forward-looking statements’ within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the expected trading
commencement and closing dates. The words ‘anticipate,’ ‘believe,’
‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’
‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’
‘would’ and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties related to market conditions and other factors
described more fully in the section entitled ‘Risk Factors’ in
Sidus Space’s Annual Report on Form 10-K for the year ended
December 31, 2022, and other periodic reports filed with the
Securities and Exchange Commission. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and Sidus Space, Inc. specifically disclaims any obligation to
update any forward-looking statement, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20231218891635/en/
Investor Relations Valter Pinto or Jack Perkins KCSA
Strategic Communications sidus@kcsa.com (212) 896-1254
Media Pam Davis Sidus Space mediateam@sidusspace.com
Sidus Space (NASDAQ:SIDU)
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